Mortgage and wealth group Yellow Brick Road has suffered a dramatic collapse in earnings, with a fourfold increase in losses despite strong growth in revenue and the size of its loan book.Yellow Brick Road's loss for the year to June was A$9.5 million - a blowout from the loss of $2.5 million in 2014/15. If the company had not been able to draw on a tax benefit of $3.1 million its loss would have been more than $12 million.Revenue rose 32 per cent from $162.2 million in 2014/15 to $215.2 million in the year to June.However, the company's cost management was extremely weak. Commissions and consultancy expenses rose 30 per cent, employee benefits were up 40 per cent and operating expenses rose almost 60 per cent.Mortgage settlements grew by 28 per cent to $3.5 billion and the loan portfolio grew from $29.1 billion to $37.8 billion. The company did not say how much of this growth was organic and how much came through acquisitions.Yellow Brick Road executive chairman Mark Bouris said in the financial report: "The completion of a period of heavy investment in brand and distribution build has been met with tough lending conditions and as a result our revenue targets have not been reached. As a major shareholder I, like you, am disappointed."Bouris said there would be cost cutting and strict spending discipline, delivery of technology innovations to provide productivity benefit and greater efforts to "leverage" the brand. Last month it announced management changes, including the loss of the head of its wealth division, Matt Lawler.The company is investing in a commercial lending business to offset softer conditions in the mortgage market.The company gave very few details of its wealth portfolio. It did say that after trialling different approaches for wealth delivery, it had settled on getting specialised planners into branches alongside credit representatives, rather than dual skilling.Not all branches will have the financial capability to employ a planner in the first year of operation, so a referral model will complement the use of specialised planners.It is clear that the integration of mortgage distribution with wealth management is still a work in progress and the fact that the company did not actually say how much it had its insurance and superannuation portfolios suggests it is not going well.