Home loan provider to offer YBR advice
Home loan provider, RESI Mortgage Corporation, will add advice to its offering as the franchise rebrands under the Yellow Brick Road Wealth Management banner.
The move follows Yellow Brick Road's acquisition of the privately-owned mortgage lender in August 2014, and will see six RESI franchises in Sydney rebrand next week, with 13 other locations across the country following suit in the coming months.
Yellow Brick Road executive chairman, Mark Bouris, said the move would see RESI franchisees add advice to their client offering.
"RESI has a great reputation built up over almost 30 years — many of the business owners have served their local communities for more than a decade. That trust and local recognition combined with Yellow Brick Road's national brand awareness is a powerful combination," he said.
"RESI local business owners share our vision and they're culturally aligned to the Yellow Brick Road model. Adding financial advice will help build even stronger local businesses."
"RESI's strength as a national retailer of mortgage products is a real asset. It will allow us to create products for parts of the market not well-serviced by the banks.
"RESI will continue to play a critical role as a mortgage product manufacturer for the group. RESI mortgage products will continue to be made available to the transitioning RESI franchises and will now also be available to the Vow brokers and the broader Yellow Brick Road network."
Recommended for you
Advisers could find themselves unable to receive the fair market price of their advice as the Delivering Better Financial Outcomes legislation states superannuation trustees can reject deductions that are not charged on a cost basis.
Two advice professionals have shared five key takeaways as to how advisers can strengthen their communication with clients, especially at review time, in order to build deeper relationships.
The Financial Services Council has launched the Digital Advice Expert Group to support policy development around digital advice adoption and ensure greater accessibility for Australians.
MLC Asset Management’s managed account offerings have hit $2 billion in funds under management, underpinned by over half of financial advisers’ usage of the investment products.
