Mortgage broker Refund Home Loans has partnered with Professional Investment Services (PIS) to add a full-service financial planning division to its business.
The new division, called Refund Financial Planning, will initially focus on providing financial advice as well as life and income protection insurance to the firm’s mortgage clients.
Under the alliance, the advisory service will add PIS’s financial planning products to its existing home mortgage products.
Refund Home Loans founder and executive chairman Wayne Ormond said it had always been his intention to integrate professional financial planning services alongside the Refund mortgage broking service.
“In my experience the ideal time for customers to review their cover is when they are borrowing – in fact it is the only responsible way to lend, giving the customer at least the opportunity to consider what their situation would be if something happened to the family breadwinner,” he said.
“The PIS Group was selected as a successful Australian company with the expertise, scale, risk capabilities and the geographic reach to support our Australia-wide network. We also share similar business philosophies.”
PIS chief executive Robbie Bennetts said the group saw the alliance as great opportunity to take advantage of the volume of loans Refund currently writes through its 300 franchisees across Australia.
Refund director Philip Ezzy will head up the financial planning division.
“Initially Refund Financial Planning will service the risk needs of new home borrowers such as life and income protection insurance, but as our advisers develop their qualifications we will become a full-service financial planning business,” he said.
