Omniwealth buys mortgage broker business
Financial advice and wealth advisory group, Omniwealth, has acquired an established mortgage broking business to boost the firm's mortgage and finance services.
Omniwealth managing director, Matthew Kidd, said the company purchased a Balmain-based broker's business, as Omniwealth needed to meet future client demands on the back of strong organic growth forecasts.
Westminster Finance and Business Solutions principal, James Grimam, would move his team of five to Omniwealth, to work with their existing mortgage and finance team, Kidd said.
"We have chosen to team up with James Grima at Westminster as he has a great business that is innovatively streamlined, and can help us deliver on our strategic plan. Like us, Westminster is non-aligned and able to be client centric with no conflicts," Kidd said.
Grima had three brokers and two support staff, who would all move to Omniwealth's office over the next six to 12 months.
Once the transition was completed, clients could access accounting, business advisory, financial planning, legal advice, and property finance all under one roof, Omniwealth said.
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