The leading brokerages in Australia have been revealed in The Adviser’s Top 25 Brokerages 2022 ranking, partnered by NAB. The Adviser’s Top 25 Brokerages ranking, partnered by NAB, is based on figures from the 2021 financial year. It is determined by scores in six key areas:
- Total book size
- Total loans selected in FY21
- Total volume of loans settled in FY21
- Book size versus years in business
- Total number of brokers and average broker volumes for FY21 (i.e. volume numbers divided by actual number of brokers)
These six scores were then combined to give a final overall score. The lower the score, the better the ranking. Coming in first this year was Loan Market, taking the winner’s mantle from major franchise brokerage Aussie. While Loan Market welcomed aggregation groups Choice, FAST and PLAN Australia into the group during FY21, the figures for Loan Market only include franchise brokers or Loan Market brokers operating under their Bring Your Own Brand model. Similarly, the Aussie figures only include Aussie broker numbers (not Lendi numbers). In fact, all of the top five brokerages in the ranking have been through some kind of merger or acquisition in recent months, as the broking industry as a whole went through major consolidation in 2021.
In third place was Mortgage Choice (which joined the REA Group’s financial services business in FY22), while Smartline placed fourth. Given that Smartline is now subsuming under the Mortgage Choice brand, the 2022 ranking marks the final year in which Smartline will appear.
MoneyQuest, which acquired sub-aggregation group Buyers Choice earlier this financial year, rounded out the top five. “The mortgage and finance broking industry continues to grow and evolve, with large groups and brands merging to form ‘super groups’ and external players looking to acquire these hugely successful brokerages,” editor Annie Kane commented.
