Finsure to roll out branded planning business

The retail finance brokerage has acquired a major stake in national financial planning company Spectrum Wealth Advisers.

“We are offering our brokers that expanded vertical offering,” Finsure managing director John Kolenda told Mortgage Business.

“Whether they decide to engage at their own level or they prefer to refer to a planner, we’ve got those solutions already in place and it’s something that we have started rolling out in the last quarter,” he said, confirming that the financial planning business will be Finsure-branded.

“It will have some sort of Finsure connection,” he said. “Whether it’s ‘Finwealth’ or some other version of it, we are going to go through that branding exercise in the coming quarters.”

In August last year, Finsure acquired wholesale aggregator LoanKit from Mortgage Choice for an undisclosed sum.

Since then the business has experienced solid organic growth, Mr Kolenda said.

“After the merger there was a big job making sure that people were comfortable and felt a big part of the whole group,” he said. “We are well into it now and our organic growth numbers are very strong.

“Our business is growing quite rapidly, which is testimony to the fact that the model is viewed by brokers as quite different and gives great value to them.”

Mr Kolenda said Spectrum Wealth Advisers boasts more than 200 authorised representatives who provide a range of financial services.