Perpetual acquires Wignalls mortgage business
Perpetual has further expanded its Corporate Trust division by acquiring the business operations of Adelaide-based national mortgage settlement company, Wignalls Lenders Mortgage Services.
The acquisition was confirmed to the Australian Stock Exchange today, with Perpetual’s group executive, corporate trust, Phil Vernon saying it represented part of a strategy to provide a comprehensive range of services to the securitisation and lending markets.
“Securitisation market growth and increased outsourcing by bank and non-bank institutions has led to the demand for a provider who can meet all the needs of clients under the one roof,” he said. “The acquisition of Wignalls adds an important capability to our service offering.
The Wignalls business will be re-branded as Perpetual Mortgage Services, with all employees of Wignalls being offered employment with Perpetual.
AUTHOR
Mike Taylor
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
