Finsure partners with Wealth Street

The integration of Wealth Street into Finsure’s advanced customer relationship management (CRM) platform, Infynity, aims to facilitate quicker referrals to Wealth Street’s advisory team.

This collaboration is intended to address the issue of low conversion rates for pre-approved loans.

Finsure’s head of diversified investment Damien Thompson highlighted that nearly 50 per cent of pre-approved investment loans fail to settle within 90 days, largely due to market supply issues and brokers’ limited capacity to convert these approvals.

“With the average loan being around $700,000, this equates to up to $1 billion in lost revenue per month,” Thompson said.

Finsure has integrated Wealth Street into the Infynity CRM, which streamlines the referral process.

Brokers can now connect their clients with the Wealth Street team more efficiently, leading to faster conversion of pre-approvals, according to Finsure.

Since its launch in April, the integration has enabled Wealth Street to turn a typical 90-day investment pre-approval into a successful property settlement in as little as 20 days.

This not only allows brokers to settle more loans, but also provides them with a referral fee from Wealth Street, significantly boosting their revenue, according to the aggregator.

Wealth Street CEO John Zada said: “For many years we have refined our process which has resulted in a streamlined, broker-led client process offering priority access to off-market stock.

“Each property is selected by a strict 8-step criteria focusing on capital growth, rental yields, and valuation targets.

“When utilising the Wealth Street referral integration in Infynity, brokers drastically enhance their speed of service, swiftly matching their clients’ pre-approved investment loans.

“This faster deal flow enhances client outcomes, making them more likely to refer, and reduces risk of unwanted clawbacks.”

Asset finance boost to drive growth

This comes as Finsure made a key development in its strategy to drive growth through the appointment of asset finance specialist Elijah Swift as a business development manager (BDM).

Swift’s role will focus on expanding Finsure’s asset finance solutions and supporting the network of brokers in tapping into the growing asset finance space.

CEO Simon Bednar said at the time: “Elijah is focused on expanding Finsure’s asset finance solutions to help our network of brokers tap into the growing asset finance space.”

[RELATED: Finsure eyes growth through asset finance boost]

Adrian Suljanovic is a journalist at Broker Daily with more than two years experience reporting on all facets of the third party distribution channel.

Adrian has written for a range of business and finance titles including IFA, Investor Daily and Lawyer’s Weekly before joining the mortgages team in 2022.

He graduated from the University of Wollongong in 2021 gaining a Bachelor of Communication & Media with a major in Digital & Social Media.

E-mail Adrian at: This email address is being protected from spambots. You need JavaScript enabled to view it.