The two national taxation brands are owned by Citycorp Group and between them will service more than 18,000 clients by June 2018.
In addition to 15 company-owned locations, the joint venture will also see Citycorp’s 16 franchisees broadening their service offering to include lending and financial planning solutions alongside their existing taxation services, nationwide.
“I’m excited to jointly announce this venture with Purple Circle,” Citycorp CEO Stephen Burns said.
“There is a clear synergy between the two groups and we’re very keen to begin not only providing our clients with a more comprehensive offering, but also to enjoy the additional revenue streams the partnership brings through the integration of additional services.”
Purple Circle launched late last year as a sub-aggregator under Choice Aggregation Services. It is the brainchild of managing director Greg Pennells, who co-founded Choice, which was sold to Challenger in 2007.
Purple Circle CEO Michael Stephens said the new joint venture will allow the sub-aggregator to provide brokers with genuine qualified and engaged clients, not just “cold internet leads”. Meanwhile, Citycorp will be able to offer clients a broader range of services, increasing client retention and revenue to their businesses, he added.
“Some of Citycorp’s franchisees and staff have even expressed a desire to write mortgages themselves, which is another area that Purple Circle can facilitate through our comprehensive training and mentoring programs, ensuring clients of Citycorp receive the very best advice and financial products available.”