Plan B acquires Perth mortgage broker
Plan B Group Holdings has announced that it has acquired Perth-based mortgage broker, Aspire Finance, which it says will add scale to its mortgage broking operation.
Aspire Finance has a loan book of around $230 million and three contract loan writers that will increase Plan B’s client service and business writing ability, according to Plan B managing director Denys Pearce.
The acquisition will be financed from the company’s existing banking facility and an issue of 100,000 Plan B shares, a statement from the group said.
Aspire Finance’s clients include young investors through to higher-net-worth individuals, Pearce said.
“We look forward to supporting them, not only with access to mortgage and other debt products, but with our full range of complementary wealth management services,” Pearce said.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
