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The group has made its fifth acquisition as it looks to strengthen and broaden its aggregation proposition.
National mortgage broking organisation Money Quest Group (MQG) has purchased sub-aggregation business Southern Cross Broker Network (SCBN).
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The transaction, which marked the group’s fifth acquisition to date was finalised on Tuesday (31 October) and saw the 21-year-old aggregation network become part of the MQG.
It had 48 brokers sub-aggregating through it at the time of acquisition.
According to MQG’s managing director Michael Russell the move aims to further strengthen the group’s position in the aggregation sector and assist SCBN brokers with “building even stronger businesses”.
He commented: “We are delighted to welcome another cohort of quality brokers to MQG.
“We look forward to building on the strong foundations that have been laid over the last 20 years, and helping our newest brokers to become even more successful.
“We pride ourselves on providing high-touch support and an exceptional professional development curriculum. We look forward to showcasing this to the SCBN network.”
The group MD suggested that the group would be keen to acquire more groups in future.
“As we grow, we will continue to sharpen our operational efficiencies and value proposition, to ensure we are delivering outstanding service to our brokers, whilst positioning ourselves to make further quality acquisitions,” Mr Russell said.
The move continues MQG’s ongoing evolution in the aggregation space.
First established in 2007 as an aggregator, the group launched its franchise brokerage offering MoneyQuest in 2016. It opened its 100th franchise in April 2021.
It now offers brokers the choice of operating a MoneyQuest franchise or trading under their own brand via the group’s aggregation business.
In November 2021, Money Quest Group re-engineered its structure by acquiring sub-aggregation business Buyers Choice and,in May 2022, it acquired sub-aggregation business Loans Actually.
[Related: MoneyQuest acquires Loans Actually]
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