Bigger is not necessarily better...
Introducing Purple Circle Financial Services,
Australia’s first broker-owned broking group!
Drives for economies of scale by mortgage broking groups may not deliver as many benefits to brokers as these groups claim.
Boutique independent broking groups may in fact be better suited to serve brokers and further assist with keeping the market on an even keel due to in part our strong collaborative approach and robust service propositions.
Being bigger isn’t necessarily being better.
There’s only so much efficiency you can get from economies of scale through size and this does not necessarily translate to a better service proposition. I’d like to think the boutique independent broking groups provide a better service proposition as we’re more attuned with what brokers require for their business, with this translating to attracting a high calibre of broker.
These big businesses aren’t team-spirited co-operatives anymore because of size and due to many of them being either bank or institution owned.
As boutique independent broking groups, we do not deal with thousands of brokers and as such along with strong collaboration we pay greater attention to broker needs with a core value proposition being ‘quality rather than quantity’.
We do things a little differently – we believe we are more hands on and intimate with regards to understanding our business partners’ needs. Our value proposition as a boutique is not just on the aggregation; it’s always been centred around the full service – collaboration, value adding and helping brokers build better businesses and create additional revenue. As we know, a more intimate broking group-broker relationship can provide a broker with the right tools and a greater structured hands-on guidance to grow. Whether it is tailored offerings for single writers, small brokering groups through large brokering groups, boutiques cater better.
Boutique independent broking groups... it’s about the collaboration, service and relationship, not the transaction!