Auxilium Partnership CEO creates entity to acquire mortgage businesses in order to focus on protection
In March, we reported on the launch of Auxilium Partnership, a protection sales support service for intermediaries.
The Auxilium Partnership CEO has today announced plans that he has said will "reinvigorate" the mortgage protection advice market.
It involves the creation of Aux Group, majority-owned by AIM-listed firm The Property Franchise Group.
Graves, who will serve as the entity's director, said Aux Group will invest in and acquire mortgage businesses in order to focus on making protection an integral part of the mortgage journey.
Drawing upon leads generated by The Property Franchise Group, Aux Group will service the lettings and estate agency franchisees' customers' needs where appropriate.
"This is an incredibly exciting new venture which will capitalise on both Auxilium Partnership's expertise in the protection market and TPFG's enormously successful franchise experience," said Mark Graves, Auxilium Partnership CEO and director of Aux Group.
"I continue to believe that the UK protection market hasn't met its full potential and there is considerable opportunity ahead. With Aux Group, we can bring new mortgage advisers into the market and financially support those already trading, and at the same time leverage Auxilium Partnership's proactive development of protection sales proficiency."
Auxilium Partnership will be the service provider for Aux Group's firms and Graves said protection will be embedded into it all sales training.
Ian Wilson, CEO of The Property Franchise Group, added: "Mark's industry credentials are top drawer, and he has both the contacts and commercial acumen to help Aux Group identify the winners and drive growth. We are very pleased to have established this mutually beneficial relationship with Mark and are looking forward to working together."
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