John Kinghorn, who started RAMS, rounds out the trio of non-bank lenders that tried to dent the dominance of the large banks in the 90s. He reckons wealth products are an adjunct to the mainstay business of mortgages and broking. Still, Bouris – who boxes regularly as part of a strict fitness regime – hasn't lost faith in the YBR model. Others argue the franchise model is flawed and not enough investment has gone into back-end systems. Part of the issue for Bouris is he has failed to make headway getting the home loan, mortgage broking and financial advice elements of the business in sync. Mark Bouris has a long list of supporters but the detractor camp is also growing. Ron Brierley's Mercantile Investment Company has lobbed a $25.4 million takeover offer for the struggling YBR and has raised serious questions about whether Bouris could turnaround or reinvent the perennial loss-making ASX-listed company. The business that the entrepreneur-cum-TV personality founded in 2007, Yellow Brick Road, finds itself in the crosshairs of a corporate raider.
The conundrum buffeting the big banks and their challenged forays into wealth management is throwing up even harder questions for under-siege Mark Bouris.
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