Aggregator Ballast will augment its broker service with a mortgage management offering and a legal service within months.
Speaking with Australian Broker, Ballast CEO Frank Paratore revealed that the group was on the cusp of launching a fully-fledged mortgage management business that would operate on the Gold Coast.
In addition, Ballast is seeking to add a legal division to its suite of services available to member brokers, with Paratore saying this additional service may be operational by early 2013.
“From a growth perspective it’s been a massive year for us, but they are all services related to what our members are telling us they want,” Paratore said.
“We are all about working with members to create structures that support growth, and physically going out there and working with them to integrate them into their businesses,” he added.
Paratore argues some of the industry’s larger aggregators have been slow to embrace diversification, often because their size makes it such a difficult undertaking to implement effectively.
However, he said Ballast is committed to its partnership and diversification strategy, which he says will ensure the group leads other competitors in providing a diversified financial services offering.
Ballast currently has 150 mortgage broker members.