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The announcement comes just a few months after Future Financial finalised a merger with Iden Group, reinforcing the statement made by general manager Troy McLachlan at the time that the ever-expanding company will “take advantage of new market segments”, which in turn allows for “greater mobility” in a fluid mortgage marketplace.
“The Pioneer Mortgage Services portfolio provides our company with an enormous opportunity to further enhance our position in the market” says Mr McLachlan.
“The mortgage landscape is continually changing, and it’s increasingly important for a business like ours to diversify our loan and operational portfolio if we wish to remain competitive.”
Mr McLachlan said the group is always on the lookout for growth opportunities. He added that other potential opportunities have presented themselves in recent months, but Future Financial was determined that the Pioneer portfolio provided the greatest scalability opportunities from an operational and financial perspective.
When asked how Pioneer stakeholders have reacted to the news, Mr McLachlan stated that “it was extremely important to us that it remain ‘business as usual’ for any customers or brokers who deal with Pioneer.
“They will continue to receive the same high quality service that they’ve come to expect over the years, with the added benefit of additional resources and systems from the Future Financial Group.”
The incorporation of the Pioneer Mortgage Services Portfolio into Future Financial's existing portfolio was finalised on 10 November 2016.
[Related: Mortgage managers announce merger]