Major mortgage manager, Australian Capital Group, has acquired a stake in boutique aggregation group Australian Real Estate Finance Group (AREFG), Raine & Horne Financial services and Hub Finance.
The latter in turn hold a substantial stake in aggregator Custom Equity Group.
Australian Capital Group CEO, Barry Parker, says the acquisition will also see his company indirectly acquire interests in Plus Corporate superannuation.
“The businesses we have partnered with share our philosophy of taking care of customers for their full financial lives; this is going to be a win-win relationship,” says Parker.
Australian Capital Group already consists of Australian Capital Home Loans, Australian Capital Financial Planning, and Nationalcorp Home Loans.
Parker says Australian Capital Financial Planning will also benefit from this new acquisition by building strong referral networks between each of the businesses.