Mortgage Choice focuses on planning arm
Mortgage Choice has sold off parts of its business so it can focus on growing its financial planning arm.
The company reported its half-yearly results to the Australian Securities Exchange (ASX) yesterday, saying it sold the LoanKit aggregation business last year to focus its resources on developing other new initiatives like Mortgage Choice Financial Planning and health insurance comparison website helpmechoose.com.au.
Mortgage Choice pointed out that the group’s overall increase in revenue came largely from the financial planning arm, which was soft-launched in October 2012 and is due to be officially launched this financial year.
Mortgage Choice Financial Planning (MCFP) reported $192,000 net revenue after direct costs, but company chief executive Michael Russell said the business division is on track to achieve its target number of planners.
MCFP currently has 23 franchises and 25 advisers.
“As for Mortgage Choice Financial Planning, we are currently on track to meet our recruitment target of 60 advisers by the end of 2015,” Russell said.
“The high calibre of advisers we are bringing on board complements our experienced franchise network, so I can safely say we are all excited to see what the future holds for this business.”
Financial planning rollout continues to gain positive momentum and acclaim, Mortgage Choice said.
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