(L to R): Ashley Trbojevic and Neil Brown

Federation Asset Management has acquired 100% of the share capital of Homesafe Solutions Pty Ltd (“Homesafe”).

Homesafe is the provider of a debt-free equity release solution for older Australians to access the wealth in their homes, without going into debt or needing to downsize.

Bendigo & Adelaide Bank has supported the business since 2005. Federation and a big four Australian bank will fund the business beyond this acquisition.

Former Resimac CEO Mary Ploughman will chair a Board of Directors including several non-executive directors including representatives from Federation and Dianne Shepherd has been appointed to the Board as Managing Director.  Dianne Shepherd has been with the business for 18 years and currently holds the position of Chief Operating Officer.

“Homesafe provides a valuable service to many older Australians. With over $2 trillion of residential real estate owned by retirees in this country it is an enormous potential asset class, and we think Homesafe offers the best solution for it. We aim to expand Homesafe’s service offering whilst continuing to provide excellent customer service,” Ms. Ploughman said.

“Thousands of older homeowners have found financial freedom with Homesafe. Homesafe remains the popular option for homeowners to access the equity in their homes without going into debt or needing to downsize. We are proud of the trust we have built with our customers, differentiating ourselves from reverse mortgages by offering a solution that aligns with the values and needs of our customers. Our history of ethical, values-driven, and customer focused service is what truly sets us apart,” Ms. Shepherd said. “We are excited about the future with Federation.”

“Homesafe exhibits many of the features we look for in a business. It cares about its customers. It serves an enormous addressable market which is currently underserved. Its financial profile is defensive, yet there are strong drivers for growth including an ageing population and a supportive regulatory environment,” Federation partner Neil Brown said.

Homesafe Founder Peter Szabo added “Having founded the business 19 years ago and at a stage in my life where it was appropriate to find a new custodian of our unique solution, it was pleasing to find an organisation that shares my views and passion for providing senior Australians with certainty and the funds to live a dignified retirement.

“Federation Asset Management brings access to significant capital enabling Homesafe, and its incredible team of dedicated people, to meet the continued demands of its customers for years to come.”

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The vote at the company’s Annual General Meeting in Sydney smooths the way for the Homeloans and RESIMAC Limited flagship brands to be unified under a new incarnation of the Resimac brand from 3 December.

There will be no impact on customer loans.

Homeloans Joint Chief Executive Officers, Mary Ploughman and Scott McWilliam announced the planned transition to a single powerful brand in October, describing it as a natural evolution following the 2016 merger of the Homeloans and RESIMAC companies.

The Resimac Group will have a mortgage book of more than $12 billion and over 50,000 customers.

The post Shareholders support Homeloans parent company being renamed Resimac Group Limited appeared first on AdviserVoice.

Mary Ploughman

Two years after merging their businesses, the Homeloans and RESIMAC Limited non-bank lending flagship brands are to be unified under a new incarnation of the Resimac brand.

From 3 December it will commence marketing itself and migrating customers to the newly designed Resimac brand. The Homeloans Ltd parent company will also be renamed as Resimac Group Limited subject to shareholder approval.

Homeloans Joint Chief Executive Officer, Mary Ploughman said the transition to a single powerful brand was an exciting development for the group, which has a mortgage book of more than $12 billion and over 50,000 customers.

Joint Chief Executive Officer, Scott McWilliam said it was also a natural evolution following the 2016 merger. “After reviewing our products and services post-merger to deliver the most compelling lending and service proposition possible we turned our attention to developing a simpler single brand platform from which to serve our customers and distributors and continue our strong growth.

“We engaged brand experts to review our existing Homeloans and RESIMAC brands as well as new branding options and canvassed a wide range of stakeholders. After much analysis and research we chose Resimac, which resonates with key stakeholder groups and will be used in both New Zealand and Australia,” he said.

Ms Ploughman described Resimac as an enhanced version of the legacy RESIMAC brand. “It retains the respect this established brand has among investors and the broader market, but also reflects our history as a challenger and innovator and our desire to provide an exceptional customer experience. It really is taking the best of both worlds and we are confident it will help take our business to the next level”.

There will be no impact on customer loans and all contact details remain the same.

An AGM, at which Homeloans shareholders will vote on Homeloans Ltd changing its name to Resimac Group Limited, will be held on 26 November, 2018.

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