Chan & Naylor enters mortgage broking JV
National accounting and wealth advisory firm, Chan & Naylor has signalled that a move into the mortgage broking space will see it seeking to provide loans to Self-Managed Superannuation Funds (SMSFs).
The firm announced today that it had signed a joint venture agreement with Origin Finance to provide finance broking services to Chan & Naylor clients nationwide, saying that the new business would be known as Chan and Naylor Finance.
The announcement said the new venture would consolidate the various state based finance businesses operated under the Chan & Naylor brand under a single umbrella so as to better meet the requirements of all new and existing clients nationally.
Under the agreement, Origin Finance will place and manage brokers within Chan and Naylor offices nationally.
Commenting on the move, Chan & Naylor managing director, Ken Raiss said that, ultimately, the mortgage business could become comparable in scale to the company's our accounting practice. Origin Finance chief executive, Doug Daniell said that, initially, the joint venture would see the companies initially staffing Chan and Naylor Finance with existing Chan & Naylor personnel and Origin brokers.
However, he said they would also be looking to recruit some experienced brokers, especially those with banking or credit backgrounds to expand into new locations and grow the existing locations.
Among the additional services being flagged as being offered by the new joint venture are SMSF loans, home loans, and bespoke loans for Chan & Naylor's Property Investor Trust.
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