The top 10 aggregator and broker group leaders in Australia in 2026

A co-founder still running Australia's largest privately held, non-bank-owned major aggregator, 23 years after starting it. Connective's brokers settled $135.47 billion in 2025, up 29.3%, including $18.9 billion of commercial lending, and it was named Major Aggregator of the Year at the 2026 Australian Broking Awards.

It's also winning the movement game. The Adviser reported brokers flocking to Connective in 2026 while Finsure and Lendi lost representatives, and it had the strongest net broker growth among the ten largest aggregators. Connective says it has more than 5,000 brokers; ASIC-based counts put its credit representatives at about 3,465, which measures something narrower.

Started Loan Market in Brisbane in 1994 as a Ray White real estate agent, and the group is still owned by the White family. It's the biggest aggregator group by headcount, with 3,765 credit representatives at October 2026 on ASIC-based counts, and it got there partly by buying NAB's three aggregators, PLAN Australia, Choice and FAST, in 2021.

Loan Market itself came third in The Adviser's Top 25 Brokerages 2026, with 690 brokers settling $19.87 billion in FY25, and White took the Loan Market CEO role himself in October 2025. The wholesale aggregation business, LMG, has been run day to day by CEO Ewen Stafford since March 2025. Loan Market's line about its franchise owners: no lock-in contracts, and they keep their trail if they leave.

Runs the only ASX-listed major aggregator. AFG's network of more than 4,300 brokers settled $75 billion in residential loans in FY26, up 18%, according to its results announcement in August 2026.

A former CFO and COO, Bailey has spent his tenure making AFG less dependent on the housing cycle, and says only about 10% of its earnings now depend directly on short-term housing volumes. His Broker Investments program has taken minority stakes in brokerages, including Empower Wealth and 28% of Loan Path Finance, which is a bet that the aggregator of the future owns part of the brokerages it serves.

Probably the best-known name in Australian mortgages, and still running the business he founded. Bouris built Wizard Home Loans and sold it to GE Money in 2004, founded Yellow Brick Road in 2007, bought the aggregator Vow Financial in 2014 and has since folded it into YBR Aggregation.

YBR settled $30.03 billion in FY26, up 28.6%, on an underlying loan book of $81.16 billion, according to its FY26 financial statements. He took the group private in 2023, which means fewer public numbers and less quarterly noise.

Co-founded outsource Financial with Andrea Tassis in 2010 and still owns it, which makes it one of the last independently owned aggregators of any size. Brokers rate it: outsource took gold overall among aggregators with more than 600 brokers in MPA's Brokers on Aggregators survey for 2026, and topped eight of the eleven service categories.

The AFR put its network at about 1,200 brokers in 2025. In an industry where most aggregators are owned by a bank, a listed company or a private equity backer, an owner who answers to her brokers is a different proposition.

Runs the only major broker network wired into a property portal. Mortgage Choice's 1,119 brokers settled 52,700 loans worth $24.43 billion in FY25, more loans than any other brokerage in The Adviser's Top 25, and it holds the largest loan book in the country at $93.16 billion.

A former NAB head of broker partnerships, Waldron has pushed realestate.com.au buyer and seller signals into his brokers' pipelines, and in February 2026 he fronted REA Group's purchase of 70% of Simplicity Loans & Advisory, the top-ranked brokerage in MPA's 2026 list.

Co-founded the digital-first Lendi in 2013 and now runs the group that owns Australia's top-ranked brokerage. Aussie reclaimed first place in The Adviser's Top 25 Brokerages 2026, with 1,312 brokers settling $28.07 billion in FY25, Lendi came fifth, and Lendi Group was named the MFAA's Aggregator of the Year in 2026.

He's been CEO since January 2026, after acting in the role from March 2025, and he's pushing the group to become what he calls AI-native. The AFR has reported job cuts and that the group is yet to turn a profit, so the next two years will say more than the last two.

One of Australia's first aggregators, and 35 years later still family-owned and run by its founder. Lockett has said publicly he'll never sell SFG to a bank, and he told MPA he calls at least three members every day.

SFG had about 1,200 members when it launched its SFGconnect origination platform. It doesn't publish recent settlement figures, which holds the scale and results scores back, and tenure does the rest.

Joined Finsure as a Victorian state manager in 2011 and took over as CEO in 2022, after MA Financial bought the business from founder John Kolenda. On Finsure's own figures, its broker network roughly doubled from about 2,200 in early 2022 to 4,208 at December 2025, on a $175 billion loan book.

2026 has been harder: ASIC-based counts showed the steepest broker losses among the big aggregators in the June quarter, and it had a public dispute with a sub-aggregator. Scale is near the top. The results score reflects this year as well as the last four.

Nectar won Boutique Aggregator of the Year at the Australian Broking Awards in 2025 and again in 2026, and its brokerage arm came 13th in The Adviser's Top 25 with $1.7 billion settled in FY25. Newell founded Raine & Horne Financial Services and was a founding partner in L.J. Hooker Financial Services before Nectar, and says he has personally settled more than $4 billion.

His company bio says executive chairman, and a Nectar colleague described him as CEO and chairman in early 2026. Either way, it's his business to run.