Why are so many brokers moving towards boutique broking groups?
Like sharks circling schools of fish, the feeding frenzy of broking group mergers, acquisitions and consolidations are leaving brokers with fewer options and a feeling of increased insignificance in the ever-growing mass.
These predator-like groups are headed up by leaders whose only two mandates are getting the most out of the masses for shareholder returns.
Conformity, uniformity and control become the order of the day and whilst this might suit the unimaginative, an ever-growing cohort of brokers are choosing to avoid these predators in favour of a better outcome.
A completely contrarian mindset lies in the Purple Circle aggregation methodology. Here, brokers belong to a steering committee which provides direction and advice to the company leaders. The leaders’ mandates are ‘to enable and empower’.
Not only this, but brokers can also earn shares in Purple Circle upon hitting milestones, meaning they participate in all the upsides that come with owning their own aggregation business.
The ‘2020 Boutique broking group of the Year’ is experiencing unprecedented growth in broker numbers, with almost 2 brokers a week currently joining the movement.
Purple Circle CEO, Michael Stephens says “Never before in the history of mortgage broking have we experienced a similar and enduring season of uncertainty and confusion. Brokers find themselves treated as a commodity and pawn in a much bigger game, one in which they receive no benefit.
Purple Circle gives the balance of power back to its brokers, enabling them to be masters of their own destiny. Many of the brokers contacting us just want some control back and to create a better future for themselves in the process.”
Here’s what our members have to say:
"Purple Circle is unique amongst broking groups 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 broking group of the future!"John Tindall - Accumulus Holdings
"I chose to join Purple Circle at it’s very conception. Purple Circle’s vision is exactly what this industry needs – it is a platform FOR brokers and BY brokers with scope and drive to make a real difference far beyond simply an aggregation model and I feel extremely fortunate to be at the very beginning of this movement"Paul Lewis - JP Partners
"It was the only aggregation model I found that gave something back to the brokers that help them to strengthen their business in kind. A motivator, the more loans I write the more shares I can get. Simple really. My fellow brokers have been amazing. We are like family, they have helped me every day to become a successful broker."Angela Hersey - Finesse Finance
Why not find out more about what Purple Circle can do for you?