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Liberty Financial has today announced it will soon grow its footprint in the retail space with the launch of a new distribution network.
The new channel will be rolled out in the first quarter of the new financial year and will be spearheaded by Brendan O’Donnell.
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Speaking to The Adviser, Mr O’Donnell said he would step down from his position as Beat Home Loans managing director in order to start work with the new company.
“The Beat Home Loans business will continue to operate as normal. But, after significantly reviewing the business I decided it was prudent to take up the role of managing director Liberty Network Services. There are great things happening at Liberty at the moment and I wanted to be a part of that,” he said.
“Liberty is extremely well-positioned for further growth, and its decision to invest in building the Liberty Financial brand to assist the broader consumer market is an obvious extension. I’m looking forward to working with the team at Liberty to provide a competitive and attractive alternative in the market.”
To complement the launch of the new distribution network, Liberty will expand its range of traditional lending products in addition to investment and insurance offerings.
Until now Liberty has primarily serviced brokers, aggregators and a handful of strategic alliances, and Mr O’Donnell was quick to stress the launch of Liberty Network Services would not change this.
“Anything that stimulates further competition can only be a good thing for the industry. It is hoped this move will create more appetite for Liberty products, which will be offered by the distribution network and brokers.”
Mr O'Donnell said more details about the new network would be announced to the market closer to the launch date.
