MORTRAGE broker AFG has signed up ASX-listed Plan B Group, one of the country's largest non aligned wealth management advisers.
Plan B has over 20,000 clients in
AFG will provide Plan B with access to a comprehensive panel of lenders, enabling the company to provide clients with a full range of mortgage products through its team of salaried finance specialists, complementing the holistic wealth management solutions the company already offers.
AFG’s WA state manager Alan Walker said this move reflects a broader trend of wealth management advisers entering the finance market.
“Our clients look to us to offer a comprehensive wealth management offering, and debt and gearing is often a part of a wealth management strategy,” Plan B’s head of strategic projects Scott Pitman said.
“We are focused on growing our finance business and, as with other parts of our business, have made no secret about being prepared to be acquisitive in this regard if appropriate opportunities present themselves,” he added.
Walker said whilst the West Australian mortgage market has suffered from the high interest rates, property costs and cost of living increases that have affected the rest of the country, the upper end of the market has proven more resilient.
“As high net worth individuals and investors use brokers to a greater extent than other market segments, broker channels have been less affected by the downturn,” he concluded.
Australian Property Journal
