Origin Finance and Chan & Naylor unite to form national brokerage

It will offer broking services to Chan & Naylor clients, although both joint venture partners will also continue to trade independently.

Origin director Graeme Salt told The Adviser that the joint venture would give Origin access to new clients and allow Chan & Naylor to consolidate its existing state-based finance businesses.

Chan & Naylor Finance has also revealed plans to offer branded home loans and bespoke investment loans.

Mr Salt said the home loans would be offered as a white label product through Mortgage Mart, the mortgage manager in which Origin chief executive Doug Daniell has a stake.

The bespoke investment loans will sit alongside an existing Chan & Naylor property investment trust, he added.

“The rates will be competitive, but what matters most is that the client can find everything under one roof,” Mr Salt said.

“When you have that as one seamless offering, you’re also getting accounting, wealth management, tax advice, so the customer feels they’re getting a package solution.”

Mr Salt told The Adviser that he expected Chan & Naylor Finance to eventually become large enough to support 15 or 20 brokers.

One of the things that attracted the two joint venture partners to each other was their complementary strengths, according to Mr Daniell from Origin.

“Chan & Naylor has a good geographic footprint, with 15 offices located around Australia, while Origin comprises an extensive network of brokers,” he said.

“Initially, we anticipate staffing Chan & Naylor Finance with existing Chan & Naylor personnel and Origin brokers.

“However, we will look to recruit some experienced brokers – especially those with banking or credit backgrounds – to expand into new locations and grow the existing locations.”

[Related: The Adviser’s annual White Label Report]