Resi Mortgage Corporation (Resi) has announced the formation of a joint venture agreement with Shartru Wealth Management to bring financial advice into its suite of services.
The agreement will see qualified advisers work alongside Resi’s existing mortgage specialists, to provide financial advice to Resi clients.
Angelo Malizis, CEO of Resi said the company recognised that providing a more holistic service would be beneficial for its franchisees and their customers.
“We understand the value of sound financial advice and this is something we have been planning for some time. Buying a home is the largest financial decision most people will make in their lifetime. It makes sense for home buyers to consider their broader financial goals and practical needs, so they can ensure their home loan fits their financial position now and in the future,” he said.
“It also benefits our franchisees, as many customers prefer the convenience of using one provider to manage all their investments needs.”
Chairman of Shartru Wealth Management, Dr John Hewson, said the venture would bring together two strong teams.
“Shartru Wealth Management was formed in 2012 and our directors all bring a minimum of 20 years experience in financial services. The partnership with Resi will allow us to reach more Australians and create opportunities for advisers looking for a new and growing dealer group with an established retail franchise.”
Resi Financial Services was successfully launched as a pilot program in Resi’s Sutherland office in February 2013. The pilot program was commenced to establish the processes and systems and the service will be progressively rolled out to the network over the next 12 months.
Mr Malizis said there had been a very positive response to the program from both Resi clients and its franchisees, with a high number of enquiries and referrals already received.
“Resi has undertaken a considerable amount of time and diligence to find the best solution for our franchisees and our clients. We wanted to maintain our very strong focus on mortgages, but also ensure we could give our clients advice that matches the changing needs of Australian investors. The joint venture with Shartru was the natural outcome.”
Dr Hewson said the growing number of Australians using self-managed superannuation funds, was one example of how the need for high quality advice is growing.
“With around 75 per cent of self managed superfund trustees not using a financial adviser to help with their investment strategy, we believe there is a looming crisis in Australia. We also see this as a real opportunity for our joint venture.
“Many are not adequately insured and may be retiring without a properly diversified investment portfolio. We know that many of these Australian are favourable to property investing, so we will be building on this to give clients a more balanced asset allocation and portfolio.
“We believe the match of the expertise of both our groups will be of significant benefit to our existing and prospective clients.”
“We are very pleased to be working with a group with the credentials and experience of Dr Hewson and his team,” Mr Malizis said.
“Our commitment to our clients is to build long term, mutually beneficial relationships based on honesty, reliability and trust. We wanted to ensure that this promise carries over to our financial services offering. So we are pleased to be working with a team who brings knowledge and understanding of the finance sector, which can deliver real results for our clients.”