Vow Financial extends lending panel
Mortgage aggregator Vow Financial has added four non-major bank lenders to its lending panel in a move it claims is indicative of a trend away from the big four banks.
Commenting on the move, Vow chief executive Tim Brown said that over the past few months the company had definitely noticed a movement towards the non-major banks and other smaller and more innovative financial institutions.
"Thirty-two per cent of our business is now being done outside Commonwealth Bank, ANZ, Westpac and National Australia Bank," he said. "This reflects the mood of the market whereby it's not just the brokers who are looking for greater choice, but also their clients who are looking outside the more traditional financing options."
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
