Resi Mortgage Corporation and Shartru Wealth Management have announced they will launch a joint financial advice offering, in a further sign of convergence between the industries.
The joint venture – which will trade as Resi Financial Services – will see qualified financial planners working alongside Resi mortgage specialists in the company’s retail franchises, which has been trialled since February in the Sutherland franchise in suburban Sydney and will be progressively rolled out across the country.
Resi CEO Angelo Malizis said the new venture would give Resi’s clients access to more ‘holistic advice’ and provide them with greater convenience.
“We understand the value of sound financial advice and this is something we have been planning for some time,” he said.
“Buying a home is the largest financial decision most people will make in their lifetime. It makes sense for homebuyers to consider their broader financial goals and practical needs, so they can ensure their home loan fits their financial position now and in the future.
“It also benefits our franchisees, as many customers prefer the convenience of using one provider to manage all of their investment needs.”
Mr Malizis said that Resi would continue its core focus on mortgages but is broadening to better reflect the needs and wants of Australian investors.
Former federal opposition leader and Shartru chairman Dr John Hewson said the move establishes Resi as an up-and-coming dealer group in the financial services space and that Resi would benefit from Shartru’s financial advice expertise.
“Shartru Wealth Management was formed in 2012 and our directors all bring a minimum of 20 years’ experience in financial services,” he said. “The partnership with Resi will allow us to reach more Australians and create opportunities for advisers.”
Dr Hewson said the rise of self-managed superannuation funds – and the problem of a lack of professional financial advice in this sector – presented an opportunity for Resi Financial Services.
“With around 75 per cent of self-managed super fund trustees not using a financial adviser to help with their investment strategy, we believe there is a looming crisis in Australia,” he said.
“We also see this is a real opportunity for our joint venture.”
