Lender says planning, mortgage broking will continue to converge

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A non-major lender has announced a new appointment it says addresses the convergence of the financial advice and mortgage broking industries. 

ING Direct has appointed Tim Hewson as National Partnership Manager, Residential Lending and Wealth. The lender's head of third party distribution, Mark Woolnough, said the appointment was a logical step as the lines blur between planners and mortgage brokers. 

"When a consumer builds trust in their wealth professional, be it a broker or adviser, they tend to look for broader support across a range of financial matters.  They want a ‘one stop shop’ where their trusted adviser can support them through their financial lifecycle, from home loans to superannuation," Woolnough said. 
“Many brokers and advisers recognise this and are increasingly working together, through either commercial agreements or referrals, to provide this level of service to their customers.  Just as it is simpler for the consumer to have all their needs met in one place, this same principle also applies to brokers and advisers.  With Tim’s appointment we are effectively mirroring what is happening in the industry, ensuring we can provide the best level of service to our professional partners.”

Hewson, who previously held the position of Manager, Superannuation, said the convergence of the industries was set to continue. 

"We see this convergence as a growing trend and it absolutely makes sense for us to be on the front-foot, providing holistic support for our broker and adviser partners," he said.