A balanced perspective on home loan fraud and the future of mortgage broking

There has been a noticeable shift in media coverage recently, with increased attention on home loan fraud and the role brokers may play within it. While these conversations are important, they need to be grounded in balance, context, and a clear understanding of how the industry actually operates.

Looking beyond the headlines

The current headlines are understandably confronting. Fraud is serious, and any instance of misconduct should be addressed swiftly.
 
But these stories do not reflect the reality of what the vast majority of brokers are doing day in, day out.
 
Across the industry, and particularly within Purple Circle, brokers are operating with a high level of care, professionalism, and accountability. They are navigating complex lending scenarios, supporting clients through major financial decisions, and doing so with diligence.
 
As CEO Michael Stephens explains, “There’s a lot of noise in the market right now, but it’s important we don’t lose perspective. The brokers we see every day are committed professionals who take their responsibility to clients seriously. That standard shouldn’t be overshadowed by isolated incidents.”
 
The reality is simple. There are bad apples in every industry. Mortgage broking is not immune to that. But isolated incidents are not representative of the broader broking community, and it is important the narrative reflects that.

Strong networks create strong oversight

Within the Purple Circle network, there has been no identification of systemic or concerning behaviour. That is not by chance. It is a direct result of how the business is structured.
 
As a boutique, broker-owned model, proximity is intentional.
 
Brokers are not operating in silos. There is clear visibility across files, consistent communication, and ongoing support. This creates an environment where anything that does not look right is identified early and addressed quickly.
 
Oversight is not just about policies and systems. It is about connection, accountability, and being close enough to the work to step in when it matters.

It’s not about gatekeeping, it’s about building capability

There has been increasing discussion around whether more should be done to “gatekeep” entry into the mortgage broking industry.
 
While the conversation is valid, the solution is not as simple as raising barriers to entry. There are already significant compliance and accreditation requirements in place.
 
What truly drives outcomes is what happens after a broker enters the industry.
 
Purple Circle COO Frank Paratore explains it clearly: “The first two years in broking are everything. If you get that stage right, you build confident, capable brokers who understand both their responsibility and their role. If you get it wrong, it creates gaps that are much harder to close later.”
 
This is why structured mentoring and early-stage support matter. When new to industry brokers are properly guided through real scenarios, supported through live deals, and held accountable in the right way, they build strong habits early.
 
Those habits become the foundation of long-term performance.

A shared responsibility across the industry

Fraud is not something any one aggregator, lender, or regulator can solve in isolation.
 
Even where internal processes are strong, meaningful progress requires alignment across the entire ecosystem. That includes consistency in standards, clearer communication, and a genuine investment in education and support.
 
At Purple Circle, the belief is that long-term improvement comes from building capability, not just tightening controls.

Raising the standard through better brokers

Ultimately, the conversation comes back to people.
 
Purple Circle was built on the idea that when brokers have ownership, they think differently. They take greater accountability, contribute more meaningfully, and invest in the long-term success of the business and the industry.
 
That philosophy extends into how brokers are developed.
The focus should not only be on preventing the worst outcomes. It should be on consistently producing better ones.

When Your Aggregator Stops Working for You: Why More Brokers Are Making the Switch

You didn’t get into mortgage broking to feel stuck.

You got into it for independence, for the ability to build something of your own, and for the freedom to grow a business on your terms. But somewhere along the way, the aggregator that was supposed to support that vision started feeling more like an obstacle than an ally.

If that sounds familiar, you’re not alone.

The frustrations brokers won't say out loud

Most brokers don’t wake up one morning and decide to leave their aggregator. It’s a slow build. A pattern of small frustrations that eventually become impossible to ignore.

It might start with the feeling that you’re just a number. You’ve been writing strong volume for years, but when you need help, you’re placed in a queue alongside hundreds of others. The personal support you were promised during onboarding is no where to be found.

Then there’s the growth ceiling. You want to expand your team and bring on a new broker, but the training infrastructure isn’t there. Or worse, it exists on paper but falls short in practice. You’re left wondering whether you’ll be liable for someone else’s mistakes because they weren’t properly educated.

For many brokers, it’s the lack of voice that stings the most. Decisions that directly affect your business are all made in a boardroom you’ll never see. Your feedback, if it’s even collected, disappears into a void.

And then there’s the fundamental issue that almost nobody talks about: you’re building value for someone else’s business. Every loan you write, every client relationship you nurture, every late night spent getting a deal across the line. The aggregators valuation increases. Their shareholders benefit. And you? You get your commission and a pat on the back.

But, it doesn’t have to be that way.

There's an aggregator built by brokers, for brokers

Purple Circle Financial Services was built from one simple question: why should brokers build value for an aggregator and never share in it?

The answer was clear, they shouldn’t.

Purple Circle operates on a broker-owned model. That means brokers earn shares through writing loans. As your business grows, so does your equity in the aggregator itself. You’re not just operating inside the platform. You’re shaping it, owning a piece of it, and benefiting from its success the same way any shareholder would.

What about growing your team?

You want to bring new people into the industry, but training a new broker properly takes time, structure and expertise. Get it wrong, and you’re carrying risk. Get it right, and you’ve built a genuine asset for your business.

This is exactly why Purple Circle created Purple Pathways Mentoring Academy.

Purple Pathways is a fully structured mentoring program where new-to-industry brokers are mentored by experienced, FBAA and MFAA-accredited mentors.

For brokers looking to hire and grow their teams, this changes everything. You can bring someone into the industry knowing they’re being trained to a high standard, with daily accountability and structured support that goes well beyond what most aggregators offer.

Switching aggregators isn't as hard as you think

Here’s the thing most brokers don’t realise: the switch itself is far simpler than the fear of switching.

The mortgage broking industry has done a remarkable job of making changing aggregators feel like an enormous, risky undertaking. And look, it’s not surprising, your current aggregator has every incentive to make you believe that leaving is complicated, disruptive and dangerous. But the reality is quite different.

Your clients are your clients. Your relationships, your referral networks, your reputation, none of that changes because you move aggregators. Trail books transfer. Lender accreditations carry over. Your clients won’t even notice.

At Purple Circle, brokers are supported through every step of the transition, from technology setup and CRM migration through to lender panel alignment and compliance handover. You’re not left to navigate the process alone.

The question worth asking

If your aggregator isn’t helping you grow, isn’t giving you a voice, and isn’t sharing the value you create, what exactly are you staying for?

You’ve done the hard work of building a successful broking business. You deserve an aggregator that recognises that and rewards it. One where your opinion shapes real decisions. Where your growth builds your own wealth, not just someone else’s.

Purple Circle exists because we decided mortgage brokers deserve better.

Rising Stars of Mortgage Broking: How Mentorship and Passion Fuel Success 

In a broking landscape defined by fierce competition and evolving market dynamics, two fresh yet formidable voices are cutting through the noise — and they’re proof that grit, guidance and a client-first ethos can accelerate success. 

From Perth to Sydney, brokers Claire Viskovich and Scott Lung are creating waves, not just for their businesses but for the broader mortgage broking industry — showing what’s possible when talent meets the right support system.  

Claire Viskovich

 The Beez Neez breakthrough. 

When Claire launched Beez Neez Finance in July 2023, she brought nearly two decades of tax and client-facing experience to the mortgage broking sector. Within just over two years, she’s achieved what many brokers take a lifetime to accomplish: national recognition as a Rising Star at the 2025 Purple Circle National Conference.  

Claire credits the transformation to a combination of focused mentoring, structured learning and relentless service excellence. These are hallmarks of the Purple Pathways Academy. Instead of relying on trial and error, she fast-tracked her skills through daily academy sessions that offered real-world scenarios, structured development, and a peer network.  

Her success formula is deceptively simple: 

  • Technical expertise and problem-solving, 
  • Consistent education, 
  • Mentoring that builds confidence, 
  • A whole-of-client approach that turns borrowers into advocates.  

That client focus has paid dividends. Claire specialises in residential lending — especially for first-home buyers, complex income scenarios and government-assisted pathways — and services clients across Western Australia and nationally. With rapid price growth and limited stock in Perth’s property market, her proactive guidance has become invaluable to buyers navigating affordability and competition.  

Scott Lung

Starting Koala Finance from the ground up. 

On the east coast, Scott Lung is building Koala Finance from scratch with a relationship-driven approach. After 13 years in commercial property, Scott embraced mortgage broking mid-2025 and chose to partner with Purple Circle for the right tools, community and strategic advice. 

For Scott, success isn’t just about finding loans. It’s about experience. He recognised early that time spent on admin or lender policy reading doesn’t move the needle nearly as much as quality marketing, nurturing industry relationships and delivering a five-star client journey.  

This ethos resonates especially in Sydney’s competitive property environment, where even government schemes like the 5% Home Guarantee can push entry-level prices higher and frustrate first-home buyers. As such, Scott focuses on both first-time investors and homebuyers, with plans to expand into areas like SMSF lending as his business grows.  

 

Mentorship matters. 

The Purple Circle Difference. 

What unites these two brokers isn’t just ambition. It’s the influence of structured support and community that empowers early-stage brokers to leap ahead. Claire’s rapid rise underscores how the Purple Pathways Academy transforms confidence and capability, while Scott’s decision to go “all-in” reflects the confidence brokers feel when partnered with supportive aggregators. 

Their journeys are testament to a broader truth in mortgage broking today: education, mentorship and client-centric service are differentiators that not only drive business success but elevate the industry as a whole. 

What this means for the future. 

As Australia’s mortgage market continues to evolve (keeping aligned with affordability pressures, lending policies and buyer expectations) brokers like Claire and Scott are leading with strategy. Their stories illustrate that: 

  • Mentored brokers grow faster and serve better. 
  • Client empowerment drives referrals and long-term retention. 
  • Regional and metro markets both offer ripe opportunities with the right guidance.  

Be a part of the Circle. 

Whether you’ve been in the industry for the first time or are just testing the waters, there’s a place for you in the Circle. Contact us and let’s talk about it. 

Purple Circle celebrates 100 broker shareholders

Purple Circle Financial Services reaches 100 broker shareholders and $6.5 billion in loan settlements

Boutique mortgage aggregator Purple Circle Financial Services has officially welcomed its 100th broker shareholder, marking a major milestone in the company’s broker-owned journey.

Founded in 2016 by a group of experienced brokers, Purple Circle Financial Services was established as a broker-owned mortgage aggregator with a clear mission — to redefine what it means to be an aggregator. The company has focused on building a collaborative, close-knit network of high-performing brokers who are personally invested in the success of the business.

Earlier this month, the aggregator surpassed the 100-shareholder milestone and also exceeded $6.5 billion in total loan settlements, a reflection of its growing footprint in the mortgage broking industry.

“Reaching $6.5 billion in settlements is a testament to the quality of our broker network, the strength of our support systems, and the collaborative culture we’ve built,” said executive director Greg Pennells. “But it’s the 100-broker-shareholders milestone that makes us most proud. It shows that brokers believe in our vision enough to become owners in the business they help shape every day.”

Last month, the group became the latest to access Salestrekker’s new integrated lending, origination and customer relationship management (CRM) platform Salestrekker 2.0.

Powered by Salestrekker 2.0 (which has been in development for over two and a half years), the new platform includes customised client portals, policy search tools, and in-built property reports and calculators and utilises open banking, digital compliance, and integrations into lender and fintech systems.

You can find out more about the origins of Purple Circle in the Mortgage & Finance Leader podcast with Greg Pennells, here.

 

Award-Winning Broker Reflects on Choosing Purple Circle

With over 35 years in financial services — and the past decade as a broker — John Tindall, Principal of Accumulus Home Loans, has seen the best and worst of the industry. He’s built a strong, independent business and a reputation for quality. So why would someone at his level choose to join Purple Circle?

We sat down with John to find out. His perspective offers clear insight for experienced brokers who are already succeeding — but looking for something more.

1. Earn Equity While You Grow

“As a broker, you’re used to enjoying the commercial success of your business. But from time to time, aggregators are merged or sold — and brokers get sold with them. You don’t benefit from that. With Purple Circle, you earn shares. You’re not just growing your business; you’re building ownership.” 

John saw this as a major difference. Instead of being on the outside looking in during business sales, Purple Circle brokers participate in the value they help create. 

2. A Platform Where Your Voice Is Heard 

“In the franchise model, only the biggest or loudest voices get heard. If you’re a smaller broker, it’s easy to get overlooked. Purple Circle is different — they listen. They value experience and quality.” 

Purple Circle’s selective approach means the voices of experienced brokers aren’t lost in the noise. 

3. A Culture of Contribution

“They’re not looking for warm bodies. They’re looking for a high calibre of brokers with a growth mindset. People who are happy to help others and lift the standard.” 

This focus on mindset, professionalism and peer support was something John hadn’t found in other models. 

4. A Real Professional Community

“Mortgage broking can be quite isolating. Some of us have small teams, but we’re still largely on our own. Purple Circle brings back that sense of community — a team of professionals who understand your challenges and want to support you.”  

John found that sense of shared experience especially valuable after coming from a more structured banking background. 

5. The Freedom to Do It Your Way 

“In a franchise, you’re constrained by the shopfront. You’re boxed in when you try something different. It can become patronising. Purple Circle is relaxed. You run your business, your way.” 

That blend of freedom and respect was what ultimately made Purple Circle the right choice for John. 

A Smart Decision 

John Tindall joined Purple Circle not to fix a struggling business — but to take an already successful one even further. 

From having a voice, to being part of a professional, collaborative network where he can give back, it’s been the right decision for John. “My family is now in its second generation of Purple Circle brokers – my son has joined the Circle as he saw what they did for me!” shares John. 

To start enjoying the benefits of being in Purple Circle, get in touch with our team. 

What Is an Aggregator in Finance? 

What is a mortgage aggregator?  

In the financial industry, an aggregator serves as a middle-man, connecting different parties to streamline processes and enhance service offerings. A financial broker aggregator links brokers with multiple lenders (among a lot of other things) so brokers can broaden their scope of products to their clients and offer a more personalised experience. 

Understanding the role and benefits of broker aggregators is essential for finance professionals keen to optimise their services and grow their businesses (and who wouldn’t want that?). 

Let’s jump in. 

How do financial aggregators work?  

One of the main ways financial broker aggregators operate is by establishing networks that connect brokers to a diverse panel of lenders. This connection enables brokers to access a wide array of loan products, from residential mortgages to commercial financing options. But, this isn’t the only thing an aggregator can (or should) bring to the table. 

At Purple Circle, our impressive lender panel is just the tip of the iceberg!  

By partnering with us, brokers can: 

    • Expand their offerings with access to multiple lenders. This means you can present clients with a variety of loan products tailored to their specific needs. 

    • Streamline processes with cool integrated software solutions (we’ve won awards for our CRM… no big deal) that simplify loan application submissions, track client interactions, and more. 

    • Stay compliant with timely reminders and steps on exactly what needs to happen. 

    • Equity opportunities — yep, you read that right. We offer brokers the chance to earn shares in the company. 

    • Get support via mentoring, resources, training opportunities, and even scholarships so you can be at the top of your game.   

Types of broker aggregators. 

Not all aggregators are created equal, and they vary based on their structure and offerings. 

Traditional aggregators provide rudimentary services such as lender access and standard software tools, often operating on a commission split or fee-based model. It’s a fairly basic offering, and many brokers — especially those new to the industry — don’t know there’s something better around the corner… 

We’re talking about boutique aggregators. We’re talking about us! Specialised aggregators that offer personalised services, niche lender panels, and unique benefits like equity ownership. Purple Circle exemplifies this model by going above and beyond in every area, offering much more than traditional aggregators and doing it well.  

So well, you might forget about us (in the best way), like Rebecca. 

“When you find a really good aggregator, you forget about them day-to-day because everything runs smoothly in the background. Our office switched to PCFS from another aggregator, and everything has worked well from the aggregator switch, to the intuitive software, to being paid like clockwork without having to follow up. Very happy with our chosen aggregator; thanks PCFS!” 

Rebecca P, Broker 

The role of technology in aggregation. 

We really want each of our members to thrive, and we get that you probably didn’t get into brokering for the admin side. We streamline compliance and marketing so you can do more of what you actually enjoy. Technology plays a huge role in efficiency and effectiveness here. Our advanced platforms and software solutions assist in three critical areas. 

    1. Customer Relationship Management (CRM): Managing client interactions and maintaining relationships (did we mention ours is award-winning?).  

    1. Compliance tools: Ensuring that brokers adhere to industry regulations and standards. 

    1. Lead management system: Tracking potential clients and converting leads into successful loan applications. 

Future-proof your business with a broker aggregator. 

Our industry is continually evolving. Without an aggregator behind you, it can feel impossible to keep up with new tech, regulatory changes, endless admin hours, and emerging consumer trends.  

Don’t sink — swim with Purple Circle.  

Wouldn’t it be easier if work was… easier? 

Partnering with us isn’t just a smart move, it’s a strategic one. With unique benefits such as equity opportunities and a comprehensive support system, Purple Circle is redefining success in the finance industry. If you’re ready to elevate your broking business explore membership opportunities with Purple

It’s time to belong to something good!

"You belong here" conveys a sense of community and opportunity at Purple Circle Financial Services for aspiring brokers.

Looking for an aggregator that’s different? At Purple Circle Financial Services, we keep things simple and offer more than your typical aggregator, we give you the chance to own a piece of the company while growing your broking career.

What makes us stand out?

  • Earn Shares: Grow your business and earn shares in PCFS. As we grow, so do your shares. It’s an asset you build just by doing what you do best!

  • Training & Development: Stay ahead with year-round education on industry trends, lender updates, business strategies, and more.

  • Real Support from Brokers: We’re brokers too! Get hands-on, practical support from a team that understands your day-to-day challenges.

  • Flexibility: Choose a fee structure that suits you – flat fee, percentage split, or a hybrid option. Your business, your way.

  • Top-Notch Lender Range: Access a wide lender panel to meet all your clients’ needs, from Residential to Commercial and beyond.

  • Advanced but Simple Tech: Streamline your processes with our easy-to-use software that handles everything from CRM to compliance.

  • Extras That Add Value: Diversify with our Partner Program, offering services like Risk Insurance . More revenue, less effort.

  • Your Voice Matters: As a shareholder, you get a say in the direction of PCFS. We’re here to build what you need!

It’s time to belong to something good.

Want to know more about how we’re reshaping the industry? Check out what our members have to say about joining Purple Circle here. You’ll hear firsthand how brokers are thriving in our collaborative, ownership-driven culture.

Level Up with Purple Circle Financial Services

If you’re over the typical aggregators, we’ve got good news, Purple Circle is here to change the game. We’re not just any mortgage broking aggregator; we’re broker-owned and broker-centric, meaning everything we do is designed with YOU in mind.

 

Why Purple Circle?

We’ve built Purple Circle from the ground up with brokers in mind. Our members are not just clients, they’re shareholders. That means you get a say in the company’s direction, alongside access to industry-leading tools and support. We believe brokers deserve more than just a transactional relationship, and that’s exactly what we deliver.

The Purple Pathways Academy

Our Purple Pathways Academy for new to industry brokers is a total game-changer. It’s been crowned the 2024 MFAA Mentoring Program of the Year because it gives new brokers the perfect launchpad to build their business. And for established brokers? It helps you grow your team without all the hassle, giving you top-notch training for your recruits.

Say Goodbye to Clunky Tech

 

We get it, nobody likes outdated, complicated software. That’s why we’ve ditched the old-school stuff and instead bring you the best technology tailored to your needs. You tell us what works, and we make it happen!

Support When You Need It

At Purple Circle, you’ve got direct access to decision-makers. Need help or advice? We’ve got your back. We listen to what brokers want and make sure our support is personalised to help you succeed.

 

We’re Award-Winning

Oh, and did we mention we’re the 2024 Boutique Aggregator of the Year? Yeah, we’re pretty proud of that. But our real passion is helping our brokers grow and thrive, your success is our success.

Whether you’re just starting out or an experienced broker looking for a boost, Purple Circle is where you need to be.

Join us and be part of a forward-thinking, broker-owned company that’s all about YOU.

 

Australian Broking Awards 2024 Announcement

Australian Broking Awards

We’re delighted to announce that Purple Circle Financial Services has been selected as a finalist in FOUR categories at the Australian Broking Awards 2024!

These awards, an annual highlight in the Australian mortgage industry, celebrate exceptional achievements across key sectors. Purple Circle is honoured to be considered for the following awards:

  • Boutique Aggregator of the Year
  • Innovator of the Year (Company)
  • CRM Platform of the Year
  • Training and Education Program of the Year

This recognition highlights our leading position in the mortgage industry and our unwavering commitment to growth and excellence. We take great pride in the dedication demonstrated by our talented staff and mortgage broker members, whose commitment to excellence is evident in our continued success.

While we anticipate strong competition, we are filled with optimism and excitement about our chances in the nominated categories.

Mark your calendars for the Australian Broking Awards 2024 ceremony, set to take place on Friday, August 30th, at the Star, Sydney. Join us as we eagerly await the outcome of this prestigious event!

Celebrate with Purple Circle. Finalists in four categories at the Australian Broking Awards 2024.

Is there a boutique aggregator breaking the mould by granting shares to its members?

Did you know there is a boutique aggregator group dismantling traditional ownership barriers and empowering all of it’s finance broker members?

In this innovative aggregator group, everyone can enjoy the benefits of being an owner, not just the select big-wigs?

Traditional hierarchical structures have fallen away and been replaced by a strong sense of ownership and belonging throughout the organisation.

By the distribution of shares, old-school power dynamics have been rebalanced, fundamentally transforming the ethos of the finance broking industry.

When members hold a stake in the company, collaboration becomes ingrained into its culture. Ideas and best practices are freely shared without prejudice, meaning the entire membership group grows in skills and professionalism together.

Since its inception in 2016, multi award-winning boutique aggregator Purple Circle has settled over $4.5 billion in loans, demonstrating remarkable year-on-year growth exceeding 86%.

The leadership team comprises seasoned industry pioneers and ground-breakers, ensuring an unwavering commitment to excellence and innovation.

Join us in reshaping the industry landscape. Click here to find out more about becoming part of the movement toward an inclusive and co-operative future for finance brokers.

This is your real chance to be part of something bigger.

Together, let’s redefine the norms and pave the way for a brighter, more equitable tomorrow.

 

Here’s what our members have to say…

“Purple Circle is unique amongst aggregators in offering its brokers equity in the overall success in the business. An experienced and dedicated management team is providing sound long-term strategy and fostering a collaborative, supportive culture. I know we’re building THE quality aggregator of the future!”

John Tindall

“Purple Circle FS has been invaluable for our business. We have felt like partners instead of just another broker. The feedback they take on board to better our processes and assist to let us grow our business has been a strong testimonial of their focus on the business. With the quality of people in their team we are very proud to be associated with PCFS. It is a dynamic, positive business relationship with an incentive to own shares as a member. If you are a broker looking for another option….. come join us.”

Brian Hoareau

“At Purple Circle, I was targeted towards success from Day 1. I have not looked back since.  What truly sets apart Purple Circle from others is the “culture,” which was the key decision point for me to join. On any typical day at Purple Circle, there is a deep focus on brokers’ both personal and professional skill development alongside technical. Here we emphasise more on the values of collective success, people, and communities, not just deals and transactions. I am extremely delighted to be a part of such a wonderful organisational culture and value system.”

Nitin Basal