MoneyQuest has announced that it has bought out Buyers Choice, adding the boutique aggregator to their existing franchise business.
All Buyers Choice staff will be retained in the acquisition, with CEO Brett Mansfield staying in post and heading up the aggregation part of the business going forward.
“We are confident that both businesses will offer something of value to the other with both sets of brokers benefitting from a sharpened value proposition,” said Michael Russell, CEO of MoneyQuest.
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“The MoneyQuest Group can now offer brokers the choice of a fully supported franchise operation or sub-aggregation business.”
“Mick McClure, Brett Mansfield and the entire Buyers Choice team have done a brilliant job over the past 20 years and have every right to feel very proud of the business they have developed.”
“We look forward to building on the strong foundations that they have laid to ensure that Buyers Choice, alongside our MoneyQuest franchise, continues to grow and empower brokers wanting to build successful businesses.”
The existing Buyers Choice is responsible for $250m in settled loans per month and will now look to add to that growth within the wider whole.
Their founder, Mick McClure, has recently retired but added his backing to the new combined business under MoneyQuest.
“It’s been extremely satisfying helping so many wonderful mortgage brokers achieve their dreams of selfemployment, through partnering with Buyers Choice,” he said.
“We regard it as a family, and we all care for each other and assist one another at every opportunity. Now officially retired, I will miss the wonderful people I have worked with at Buyers Choice, but leave knowing that the business is in great hands for the future.”
“Brett is an outstanding CEO and I know that Michael Russell was very keen to retain him as CEO of what will be a much bigger Buyers Choice business.”