Two Western Australia-based aggregation groups have joined forces to provide a fully integrated third-party distribution system.
Ballast Finance and Specialist Finance Group today announced that they have entered into a joint venture agreement. The organisations will combine strengths to provide a total systems solution to both broker networks.
The joint venture combines the resources and expertise of Ballast, the Ballast broker network, and Specialist Finance Group.
"This agreement represents each organisation’s strong commitment to provide brokers with a single source for the best in aggregation service,” Ballast Group managing director Wayne Blazejczyk said.
“This joint venture also expands the Ballast branded loan offering for our broker network and sets a total systems solution,” Mr Blazejczyk said.
“When these quality service components are combined with the Ballast and Specialist aggregator reputation for excellence in broker support, you have a situation that can’t be matched in the third party mortgage broking industry.”
As part of the joint venture arrangement, operational management of Ballast Finance will relocate to the Subiaco offices of Specialist Finance Group. The transition of the integrated services will be overseen by Frank Paratore, head of Ballast Finance, who will take up exclusive management of Ballast Finance at the new offices.
More to come.
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James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.