MoneyQuest acquires franchise brokerage

by Julia Corderoy01 Sep 2016
Broker network MoneyQuest has announced the acquisition of another broker franchise, Citiwide Homeloans.

MoneyQuest managing director, Michael Russell, said it was an exciting move to acquire a business he has “admired and respected” for many years. Citiwide Homeloans has been in the mortgage broking business for 28 years.

“Patrick Marion and his team have done a magnificent job and have every right to feel very proud of the business they have created. We are absolutely thrilled to have acquired a business I have admired and respected for so many years. Patrick’s personal contribution to the industry has been enormous since he started the business back in 1988,” Russell said.

Founder and CEO of Citiwide Homeloans, Patrick Marion, said it has been “extremely satisfying” to be able to have helped so many clients achieve their dreams through owning property. 

“The job we do is an extremely important one given the emotional and financial impact we can have on the lives of our clients,” he said.

Today the Citiwide brand is represented by a franchise group that cater for the needs of homebuyers and homeowners in Victoria.

But in making the decision to sell the business, Marion said he wanted to make sure “the interests of the franchise network and clients would always be best served” and that Russell and MoneyQuest was an obvious choice.

Russell said that he intends to operate the Citiwide franchise alongside the MoneyQuest franchise.

“Both brands have high credibility and currency and we are looking forward to sharing best practices to further enhance the operating efficiencies of both franchises and delivering an even better customer experience” Russell said.