Firm's founding member steps into top executive role
Boutique mortgage aggregator Purple Circle Financial Services has appointed Michael Stephens (pictured above) as its new chief executive officer, effective immediately.
Stephens, a founding member of the company, assumes the role after playing a central part in shaping Purple Circle’s operational strategy and broker-first culture. He has been closely involved in the company’s growth since its launch and is widely recognised for spearheading the Purple Pathways Academy – a development program that has become a key platform for training and mentoring new mortgage brokers across Australia.
“Michael has been instrumental in building the foundations of Purple Circle and in helping shape what makes us different,” said Purple Circle founder and chairman Greg Pennells. “His strategic vision and deep care for broker success make him the ideal person to lead Purple Circle into its next phase.”
Stephens’s promotion comes as Purple Circle marks two significant milestones: surpassing $6.5 billion in total loan settlements and welcoming its 100th broker shareholder last month. These achievements signal continued momentum for the company, which has pursued a business model centred on broker equity and community-driven growth rather than scale for its own sake. The figures also reflect Purple Circle’s ability to retain and attract brokers who are seeking not just operational support but an ownership stake in the aggregator itself.
The appointment is also expected to reinforce Purple Circle’s position as a boutique player in the aggregation space, focused on quality, community, and ownership. The company operates under a member-owned model, offering its brokers equity participation alongside tailored support and education pathways designed to meet the evolving needs of the mortgage industry.
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