Centrestone launches lending business

mortgage chief executive

15 July 2004
| By Craig Phillips |

By Craig Phillips

Boutique financial planning firm Centrestone Wealth AdvisoryGroup has confirmed its push into the lending advice space, with the launch of Centrestone Lending Advisers.

The group indicated it was seeking to add to its existing financial planning and risk advice capabilities and was considering expanding into lending advice back in January, but Centrestone joint chief executive Rob Keavney says it had taken time to put the team together.

The initiative, which Keavney is anticipating will deliver a loan book of $1 billion within three years, will launch with a team of five.

It will be jointly managed by former Bleakleys’ general manager Lyle Jones and independent lending adviser Kieran Canavan, with a team of two lending advisers — Ken Small and Mark Herman — and a business support manager, Tracey Amos.

Keavney believes the new initiative offers the group a number of benefits such as meeting clients’ needs without having to refer them to another institution and lose a potential source of revenue.

“If a client needs to arrange finance for structured loans, a business or a mortgage, planners generally tend to refer them externally and give away a strong revenue source to another institution. Now with our lending and risk division, and given a large proportion of our target client base are high-net-wealth, we can offer comprehensive integrated services at all stages of a person’s financial life,” he says.

Keavney says each lending adviser will work with a small group of planning and risk advisers in addition to external referral sources.

“Centrestone’s original vision included a comprehensive service covering financial planning, lending and risk. We are very selectively recruiting lending advisers able to operate successfully at this high-end of the market,” Keavney adds.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 3 weeks ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 3 weeks ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 3 weeks ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

1 week 2 days ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

4 weeks 1 day ago

The Reserve Bank of Australia's latest interest rate announcement has left punters disheartened on Melbourne Cup Day....

1 week ago