Non-bank lender Homeloans says its brand does not stop it from moving into other areas of financial services.
Speaking to Mortgage Business, Homeloans general manager of sales Ray Hair said every player in the market is looking at integration or diversification right now.
“We are certainly not alone in that space,” Mr Hair said.
“Homeloans, as a brand, it is pretty straightforward what we sell,” he said.
“That is the power of our brand. I don’t think it limits us from doing more, but that is clearly our focus.”
Mr Hair’s comments come after a string of mortgage groups have moved into the wealth management space.
Listed broker Mortgage Choice is on the path to becoming a diversified financial services company after launching its financial planning arm last year.
Yellow Brick Road is another multi-service business offering mortgage broking and financial advice, while aggregator Vow Financial has been busy recruiting for its wealth management division.
National brokerage Loan Market has been the latest player to join the convergence trend after announcing the launch of its financial planning dealer group, Wealth Market, last month.
Meanwhile, accounting firm Chan & Naylor has signed a joint venture agreement with Origin Finance to provide in-house mortgage broking on a national scale.
“The talk about the 'one-stop shop' is the convenience and people supposedly want those things,” Mr Hair said.
“The flipside is there are people who are looking to you as the home loan provider or home loan specialist,” he said.
“Businesses with a focus or a discipline – be they brokers or lenders – have a role to play.”