AFG launches new ‘trail book marketplace’

The marketplace is being managed by trail book buyer and mergers and acquisitions advisory firm TrailBlazer Finance, which recently joined AFG’s commercial and asset finance panels.

AFG’s head of sales and distribution, Chris Slater, said the new arrangement forms part of AFG’s commitment to support brokers from the start right through to the end of their broking career.

“The purchase and sale of a trail book is an important decision. For brokers, their trail book is their largest asset, and it was important to us that they have full access to information that supported their decision making and was independent of AFG,” he said.

“With TrailBlazer managing the process, AFG brokers will have a single point of contact whose sole focus is supporting our brokers with expert advice and service as they transact.

“The outsourced arrangement with TrailBlazer Finance will ensure a seamless and transparent mortgage trail book buy-sell process for both buyers and sellers and creates a competitive marketplace for our brokers’ trail books. Importantly, it will also ensure customers are well looked after and are at the front and centre of the transaction,” he said.

Jeff Zulman, managing director of TrailBlazer Finance, said the company was “thrilled” to manage the mortgage trail book buy-sell program for AFG.

“As a specialist lender, mortgage trail book valuer and M&A advisory firm, TrailBlazer Finance is ideally positioned to guide AFG brokers through the many complexities of buying and selling trail books,” he said.

“The arrangement cements our strong multi-year relationship with one of Australia’s largest aggregators, and we look forward to working together more closely.”

Heartland Reverse Mortgages joins panel

As well as announcing the new trail book marketplace, AFG also recently welcomed a new lender to its panel.

Specialist lender Heartland Reverse Mortgages has joined the aggregator’s lender panel, making its products that are focused on customers over the age of 60 available to AFG brokers.

Mr Slater commented: “The personal expertise a broker offers to their clients is what sets brokers apart in the market. With more than 70 lenders on the AFG panel, our brokers have access to finance solutions that meet the needs of their clients at all stages of life.

“Ageing in place and access to equity are important considerations, and the finance products offered by Heartland will help AFG brokers and their clients navigate these important decisions.”

Mr Slater continued: “The provision of choice for clients is at the centre of every broker’s business. Heartland is known for being passionate about training and educating brokers about reverse mortgages to give them the knowledge to succeed in helping their clients live a more comfortable retirement.”

Heartland’s head of operations, Sharon Yardley, noted that one of the key findings made in the Retirement Income Review by the federal government, released by Treasurer Josh Frydenberg in November 2020, was that “a more optimal retirement income system would involve retirees more effectively drawing on all their assets, including the equity in their home, to fund their standard of living in retirement”.

She highlighted that recent research supported by Heartland by the Royal Melbourne Institute of Technology (RMIT) about financing “ageing in place” found that most Australians want to remain in their home as long as possible, but many don’t have the funds to do so.

She suggested that this was due to limited superannuation and the rising cost of living.

“This research shows there is demand in the market for financial products designed for retirees, such as reverse mortgages, which can facilitate ageing in place and a more comfortable retirement,” she said.

[Related: FBAA to offer reverse mortgage course]