Sub-aggregator currently settles more than $250 million per month
National mortgage broking franchise MoneyQuest has announced that it has acquired Buyers Choice, a boutique sub-aggregator.
Buyers Choice, founded by recently retired chairman Mick McClure and led by CEO Brett Mansfield, settles more than $250 million per month and is poised for significant growth in 2022, MoneyQuest said.
“Mick McClure, Brett Mansfield and the entire Buyers Choice team have done a brilliant job over the past 20 years and have every right to feel very proud of the business they have developed,” said Michael Russell, managing director of MoneyQuest. “We look forward to building on the strong foundations that they have laid to ensure that Buyers Choice, alongside our MoneyQuest franchise, continues to grow and empower brokers wanting to build successful businesses.”
“It’s been extremely satisfying helping so many wonderful mortgage brokers achieve their dreams of self-employment through partnering with Buyers Choice,” McClure said. “We regard it as a family, and we all care for each other and assist one another at every opportunity. Now officially retired, I will miss the wonderful people I have worked with at Buyers Choice, but leave knowing that the business is in great hands for the future.”
McClure said he was pleased that Mansfield and all Buyers Choice employees would retain their positions as part of the deal.
“Brett is an outstanding CEO, and I know that Michael Russell was very keen to retain him as CEO of what will be a much bigger Buyers Choice business,” he said.
Read next: Largest MoneyQuest franchise sold to Liberty Network Services star
“In making the decision to sell the business, the directors wanted to make sure the interest of our brokers and their clients would always be well served, and I am now confident that they will be,” Mansfield said. “I am delighted to now be working alongside someone of Michael Russell’s calibre, whose industry experience and passion is second to none. We share identical values, and our businesses enjoy a like-minded culture. I am thrilled with the strategic vision we have mapped out and am looking forward to leveraging our combined resources to further enhance our broker proposition.”
“Both MoneyQuest and Buyers Choice have high credibility,” Russell said. “We are looking forward to sharing best practices to further sharpen the operational efficiencies and value propositions of both businesses, to attract more high-quality brokers aspiring to own thriving mortgage broking businesses.”
