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An ASX-listed mortgage firm has entered into a new partnership with a network of financial advisers and accountants that aims to assist brokers to deliver a more holistic service.
Centrepoint Alliance announced earlier this month that it has acquired a strategic interest in RFE Group, a network of advisers and accountants, which focuses on supporting mortgage brokers in providing wealth advice to their clients.
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Speaking to The Adviser, RFE Group’s managing director Peter Rheinberger said that the partnership with Centrepoint Alliance will provide RFE Group assistance with compliance and professional development, as well as the opportunity to tap into its network of brokers.
Mr Rheinberger explained that RFE Group provides the opportunity for business partners like mortgage brokers to deliver a “more holistic service” to their clients.
“Just about every one of their clients that comes to them has a requirement for insurance services, or sometimes for superannuation services, and so when they come to a point where they can't assist their clients we'll build a relationship with them and help them provide a broader range of services,” Mr Rheinberger elaborated.
He explained that while mortgage brokers may not be qualified to give financial advice, he finds that they are often happy to partner with financial services providers that are qualified to do so.
“[Brokers’] relationship with their clients is paramount to their success because they get referrals, so they quite like our models for delivering advice because it comes with a money back service guarantee,” Mr Rheinberger commented.
He explained that RFE group establishes joint venture relationships with brokers, which allows the principals of a brokerage to take an equity position and a directorship in the company in order for them to add financial advice and other financial services to their offering.
“As directors, they can oversee the services provided to make sure that everything that's done for the client is in line with what they believe is appropriate,” he said.
[Related: Accountants increasingly keen to partner with brokers]
