Weekend Wrap: MoneyQuest launches franchise operation

by AB07 May 2016
Making broker news this week, a new franchise operation has officially launched; ANZ has announced the departure of their mortgage channel head; and a shock move by the RBA saw cash rates slashed.

MoneyQuest is leveraging it tech-focussed culture and support brokers with a new franchise operation which officially launched this week.

“Today’s savvy consumer expects a lot more from their mortgage brokers – and those mortgage brokers have the right to expect a lot more from the business behind them,” said MoneyQuest managing director Michael Russell.

The launch follows the opening of a purpose-built film studio in its Melbourne headquarters back in February, designed to digitally empower brokers, giving the broker network the ability to create professional video content.

Head of third party relationship channels at ANZ, Keiran Evans, will make a swift departure from the big bank as part of a major restructure.

“I’ve had a fantastic time at ANZ. The highlight has definitely been the last three years working with the broker industry,” Evans said.

“I’m proud of what the team has achieved and know our BDMs will continue to deliver the exceptional service we’ve become known for.”

Evans has headed up ANZ’s mortgage channel since March of 2013.

The Reserve Bank slashed cash rates to an all-time low this week, the first cash rate reduction the central bank has made in a year.  The move was a surprise to many, with economists and financial commentators predicting that the bank would leave rates still, waiting until the Federal Budget was delivered before making any changes. 

“Any move by RBA to move rates with the budget around the corner which will outline the Government's Fiscal Policy going forward will reflect a lack of prudence,” Bank of Sydney deputy chief executive officer Steven Pambris said before the meeting.