Loan Market, Australia’s largest 100 percent family-owned mortgage aggregator, and Encore Advisory Group, have announced the establishment of a new business, Financial Advice Mortgage Solutions (FAMS).
A statement from the company says that FAMS “…brings together everything a professional financial planning and advice business needs to deliver debt advice and mortgage broking – in one place”.
It says that FAMS provides the intellectual property, systems, tools and drive for mortgage brokers and financial advisers to provide advice for Australians on both sides of the ‘client balance sheet’ and that FAMS is a specialist in implementing debt advice solutions and mortgage broking services to the financial planning and accounting community.
FAMS CEO Mark Zaglas says that client value needs to be proven more than ever and advice will need to go beyond traditional areas of investment, superannuation and insurance and into areas of advice on cashflow and managing debt.
“We believe this is a win for consumers, will accelerate business growth and business value, and must be part of a financial advisory firm of the future.”
He says the company believes that advice is incomplete without addressing both sides of the client’s family, household or business balance sheet.
“Financial advisers, accountants and mortgage brokers all have a best interests duty in one area, however, it’s hard to imagine ignoring the others if the true interests of the client are being realised and business value maximised,” he says.
The statement says that FAMS has partnered exclusively with Loan Market Group.