Mark Bouris's Yellow Brick Road will pay $17.6 million in cash and shares to acquire unlisted mortgage aggregator Vow Financial.
YBR revealed last week it had put agreed purchase terms to Vow's 24 shareholders, two of whom - chief executive Tim Brown and Macquarie Group - had already accepted for their combined 40 per cent stake.
Today, the group disclosed that it had since received acceptances from Vow's remaining shareholders.
Some 63 per cent of the purchase price, or $11.1 million, will be paid in cash and the balance in shares.
Macquarie, already a 14.8 per cent shareholder in YBR, and Mr Brown will take their proceeds in YBR shares.
The purchase, which is subject to various conditions, is consistent with YBR's stated intent to build a diversified wealth management group in the non-bank space across mortgages, investment and insurance products.
Vow partners with 700 mortgage brokers and boasts an $18 billion loan book. It negotiates with lenders and collects up-front and trailing commissions on loans introduced by its partner brokers, pocketing fees and a share of the commissions.
In 2012-13, it made a net profit of $1.4 million on $63.3 million in revenue.
The Vow business will operate as a separate business within YBR, with Mr Brown remaining as its chief executive.
YBR shares last traded unchanged at 63.5c.