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.”

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The office will be opened in conjunction with local accounting firm, Emerge Business Advisory, which can trace its history back to 1963. 

The advisory firm is part of the Shartru Capital Group, a privately owned, Australian boutique investment and advisory firm established in 2009. 

The board of Shartru Wealth includes respected economist and former leader of the federal Liberal Party, Dr John Hewson.  CEO of the group is Newcastle resident and former Director of Centre Capital, Robert Coyte.  Other board members include property and investment experts Linden Toll and Andrew Meakin, both of whom have been working in financial services for more than 20 years. 

Mr Coyte said he was extremely pleased to be launching the firm in his home town and that the experience of the board would help ensure clients needs were at the forefront of all decisions by the Group. 

“We understand that with five years of tough times in investment markets and now, sweeping government changes on how financial advice can be delivered, many people are feeling bewildered and frightened about just how they will fund their retirement.  Additionally, investors need confidence that any decision or recommendation from their advisor, is made to further their own financial wellbeing – rather than that or their advisor or dealer group. 

“I feel extremely fortunate to have found a team of such experienced and dedicated individuals, who I believe will add considerable value to our clients, both locally and further afield.   We are committed to developing long term
relationships with our clients and will work with them to continually enhance their overall
financial welfare.” 

Dr Hewson said he did not believe the role of sound financial advice could be underplayed when thinking about the financial wellbeing of the entire community. 

“In my opinion, the difficult economic and political landscape that has dominated Australia in recent years, is set to continue.  This means, there is no quick fix for investors who want to create a more comfortable financial future.   Five or ten years ago, investing in property or buying shares were seemingly failsafe ways to build future wealth.  Those days have passed, so finding reliable advice that meets your specific circumstances and build and protects wealth, is essential. 

I am very pleased to be working with the board to grow this dealer group and we look forward to making further exciting announcements in the coming weeks.”

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