The new consolidator, founded by two former Mattioli Woods directors, has launched a central mortgage service to support its firms, along with a joint venture with an insurance firm.
Truinvest founded a mortgage service at the Group Rapport hub, which it acquired last March.
Truinvest Mortgages will be based in the Group Rapport office run by Rachel Lane.
The firm said mortgages are an important part of financial planning and that it can be difficult for consultants to effectively manage applications due to the amount of work that goes on behind the scenes.
“The mortgage department ensures that clients receive the best possible service and that consultants can concentrate on what they do best in their role with the client,” it said.
Weybridge-based Group Rapport has four consultants and provides consulting services to both corporate and private clients.
Truinvest was founded in 2019 by Mark Smith and Mickey Johal and has positioned itself as a “market disruptor”, aiming to reinvent traditional financial planning in the UK.
The couple previously worked for asset manager Mattioli Woods as chief operating officer and director of mergers and acquisitions, respectively.
Smith, CEO, said: “Mickey and I created Truinvest to create a modern, forward-thinking financial services business focused on providing personalized advice and backed by the best technology.
“Launching a mortgage service is a great example of how we can help our consultants support their clients and help make their lives better.”
Johal added: “Growing the business by hiring and training new consultants has always been a key part of our strategy, and this new development will help these consultants provide a wide range of services.”
Along with the mortgage service, Truinvest entered into a partnership agreement with 1.618 Advisory Services to create a joint venture, which allowed it to provide the firm’s clients with financial planning and investment advice.
1.618 Advisory Services provides advice on life insurance, business insurance and medical products in the UK.
Tyrone Hodgson, CEO of 1.618 Advisory Services, said: “Truinvest offers a unique offering for the UK market, bridging the technology gap for consultants and clients.
“Ensuring that customers receive the most valuable part of the relationship, the ‘advice’, and the means to ensure they are on the right track to achieve it, ensures that our customers receive the same highly personalized service they have come to expect , and need. ”
The last enterprise became a consolidator completed its first deals just a year ago and achieved its ambitious target of £ 1bn in assets in the first 12 months.…
This March she acquired NLP Financial Management Ltd and Birchwood Investment Management Ltd as part of a five-year growth strategy targeting £ 50 million in annual revenue.
Last year in June the firm also bought Bromwich Financial Planning…
Truinvest is also backed by the family office of Stonewood Wealth Management, which has provided an undisclosed amount of funding.