Redrock Group has been named as one of the top brokerages in Australia after securing a place in The Adviser’s Top 25 Brokerages 2024 ranking.
The Top 25 Brokerages ranking, partnered by NAB, has been unveiled by The Adviser — Australia’s top publication for mortgage and finance brokers.
Redrock Group has for the forth year running been recognised as one of the country’s top mortgage brokerages this year.
Now in its 15th consecutive year, the Top 25 Brokerages ranking recognises the top-performing brokerages that have consistently achieved high scores and set the benchmark for excellence for the rest of the industry.
The ranking took into consideration key business metrics and overall productivity. It was determined by the relative rank of six key metrics across the 2022–23 financial year (FY23):
- Number of loans settled in FY23
- Value of loans settled in FY23
- Total number of active brokers/loan writers
- Broker efficiency (value of loans settled divided by the number of active brokers)
- Overall loan book size
- Average annual loan book growth (overall total loan book size divided by years in business)
A brokerage’s final rank was determined based on the sum of these metric ranks, equally weighted. The lower the score, the better the ranking.
The top 25 brokerages were then re-ranked based on these metrics to determine their final place within The Adviser’s Top 25 Brokerages ranking.
Commenting on the results of the Top 25 Brokerages ranking this year, Momentum Media’s editor of mortgages, Annie Kane, said: “Congratulations go to all of the leading brokerages who made the ranking for the Top 25 Brokerages ranking 2024, partnered by NAB!
“The financial year 2023 was a record-breaking year for refinancing, as the central bank lifted rates an eye-watering 10 times between July 2022 and June 202.
“But despite the strong refinancing and repricing trend keeping brokers busy working on their existing clients, brokers in the Top 25 Brokerages ranking for 2024 still managed to write a whopping 184,244 loans over the year. That’s more than in the bumper year of FY21 and only around 8,000 less than in the property peak of FY22.
“The figures in the ranking show that brokers are working incredibly hard to keep a growing number of borrowers satisfied with their lending experiences – and we commend them for their hard work.
“No wonder more than 70 per cent of mortgage borrowers use a broker!”
