9/09/2010 1:03:53 PM
For immediate release
September 2010
KEYINVEST ACQUIRES NATIONAL MORTGAGE BROKING BUSINESS
Financial services and retirement living company KeyInvest has announced the
acquisition of leading mortgage and finance broker, FirstRock.
The acquisition cements KeyInvest’s position as one of the largest finance and
mortgage brokers in Australia.
KeyInvest’s current mortgage division, Money Advisers, and the FirstRock business will be rebranded as KeyInvest Lending Services to take advantage of the combined national representation.
As a result of the acquisition, KeyInvest Lending Services will have a loan book
value in excess of $2 billion.
KeyInvest Lending Services will be led by Chris Burns, who is the current Chief
Executive Officer of Money Advisers, with the head office remaining in Adelaide
located at 81 The Parade, Norwood.
KeyInvest Lending Services will have an Australia-wide network of around 90
consultants specialising in sourcing finance options for owner/occupiers, investors, commercial transactions and commercial leasing.
Mr Ian Campbell, KeyInvest Group Managing Director, said the acquisition was a
strong strategic fit for both businesses and their clients.
“This acquisition cements KeyInvest’s position in the Top Ten finance and mortgage brokers in Australia by size,” Mr Campbell said.
“We have brought together two leading finance service providers to expand our presence and offering in every mainland State.
“FirstRock brokers and clients now have the backing of highly experienced
management, strong business networks and a team of dedicated mortgage
consultants across Australia.
“This acquisition is a key step forward in KeyInvest’s national expansion strategy.
“We aim to grow our existing operations in the Northern Territory and Queensland and add to our footprint in New South Wales, Victoria and Western Australia while building on our strong presence in South Australia.”
Mr Campbell said KeyInvest and FirstRock shared similar business philosophies and high customer service standards and would continue to explore new products and services.
“By dealing with all leading banks and financial institutions KeyInvest Lending
Services is ideally placed to provide the best finance solutions for our clients,” he said.
“In the current economic climate, choosing the right financial option can potentially save a client thousands of dollars in bank fees and additional repayments over the life of the loan.”
KeyInvest will continue to trade under the KeyInvest brand for all its other financial and retirement living services.
In addition to its mortgage business, KeyInvest, which has a proud history of
providing financial services dating back to 1878, also offers investment and funeral bonds as well as managing a growing portfolio of KeyInvest branded retirement villages across Australia.
For further information please contact:
Chris Burns
Chief Executive Officer, Money Advisers
Ph: (08) 8210 0000