Mark Graves, CEO of Auxilium Partnership, has announced plans to reinvigorate the mortgage protection advice market with the creation of Aux Group Limited, majority-owned by The Property Franchise Group PLC (TPFG), an AIM-listed property franchise business.
Aux Group will invest in and acquire mortgage businesses, with a focus on attracting business owners who share Auxilium and Graves' aim of making the protection sale an integral part of the mortgage journey.
Aux Group will benefit from the significant volume of leads generated by The Property Franchise Group and will service the lettings and estate agency franchisees' customers' needs where appropriate. Mark will be overseeing the relationship with The Property Franchise Group.
Mark Graves explains, "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.
"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."
Aux Group will be training its firms in mortgages and protection from day one and embedding protection firmly into the sales process.
"Too often protection is an afterthought, so the creation of Aux Group presents the opportunity to turn the sales process on its head, investing in driving a good customer outcome every time," explains Graves.
Aux Group's acquisition of Auxilium Partnership is a fundamental part of Graves' vision. Auxilium Partnership will be the service provider for Aux Group's firms, thereby increasing the protection footprint.
Ian Wilson, Chief Executive Officer 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."