Family-owned mortgage aggregator, Loan Market, and advice and practice management firm, Encore Advisory Group, have announced they have joined forces to launch a new combined broking and financial advice business, Financial Advice Mortgage Solutions (FAMS).
The new entity, which would aim to bring together a professional financial planning advice and mortgage broking in one place, would specialise in implementing debt advice solutions and mortgage broking services to the financial planning and accounting community.
FAMS’ chief executive, Mark Zaglas, stressed that advice should go beyond traditional areas of investment, superannuation and insurance and into areas of advice on cashflow and managing debt.
“We believe this is a win for consumers, will accelerate business growth and business value, and must be part of a Financial Advisory firm of the future,” he said.
“Financial advisers, accountants and mortgage brokers all have a best interest duty in one area, however, it’s hard to imagine ignoring the others if the true interests of the client are being realised and business value maximised.
“Advisers who work with us build better, more profitable integrated businesses and/or referral partnerships. This is because of what we call our ‘Connectivity IP’ and the unwavering belief that advice is incomplete without addressing both sides of the client’s family, household or business balance sheet.”
FAMS also partnered exclusively with Loan Market Group, who would provide access to technology and marketing focused on business growth as well as automation, growth through connectivity and partnerships between advisers and brokers, the firm said.
