Two biggest broker groups to join

The two biggest groups of mortgage advisers have set out plans with will see them merge.

Monday, January 21st 2013, 9:29AM 3 Comments

Allied Kiwi has reached a conditional agreement to merge with the Ray White aligned Loan Market group.

Allied Kiwi chief executive Brendon Smith has announced the conditional agreement to members as there had been "some noise" in the market about the deal.

He says the current Allied Kiwi business models and member offerings will continue moving forward.

He will continue to be responsible for the Allied Kiwi business supported by Brian Greer, Brent McGregor and its adviser Services team.

"There will be no changes to commission structures or payment frequencies and all staff at both Allied Kiwi and Loan Market will be retained during this merger."

He says the will create an opportunity for members to grow their businesses with additional resources, inlucding:

"This merger will create a stronger more viable business partner for both you and our suppliers. Our new company will be able to invest more into our infrastructure which in turn will provide a better platform for you to grow your business," he told members.

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Comments from our readers

On 21 January 2013 at 12:20 pm Interested Observer said:
Two mentions of MyCRM in 4 points. Me thinks that the true cost of creating and supporting software was starting to become apparent.

Its not a cheap business to be in, sure the rewards are there once you get volume, but its hard expensive work. Look at Xero for example.

Still merging will increase the amount of available resources available to MyCRM development, I am assuming Loan Market has any suitable IT resources to share?
On 22 January 2013 at 9:21 am Victor Taylor said:
I can't really see how the joining our these two groups will create any real value for advisers. And I certainly doubt they are the 2 biggest Dealer groups. Maybe for mortgages, but certainly not insurance advisers.

Lets face it, historically, when 2 failed groups come together it is not necessarily going to be better for advisers. Just look at Ginger group! But maybe they will do better together. Guess its better for Brendon though.

And I cant see much if anything for advisers from lead generation. After all, the Raywhite offices are all individually owned so will no doubt continue with their existing relationships rather than refer to Allied.

Its a group that is being run by a corporate, and one that seems to know very little about insurance.

Interesting times!


On 22 January 2013 at 10:41 am skeptic said:
Loan Market has suitable IT resources to share...yeah right!

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