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
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.