The latest strategic alliance in the Canadian mortgage industry was announced today and will see TMG The Mortgage Group partner with Planiprêt/Mortgage Planners, Quebec’s largest independent brokerage.
The move will see TMG take an equity stake in Planiprêt, giving it turn-key referral access to the Quebec market, while Planiprêt will benefit from TMG’s national infrastructure, industry partners and sales force.
“We’re living in a time where people are finding clients and referrals all across the country, so it was important for us to also have a partner that could service referrals across the country supported by local knowledge with local lenders,” said Mark Kerzner, President and CEO of TMG The Mortgage Group.
Together, the firms boast nearly 1,500 brokers and about $15 billion in annual mortgage origination volume.
“We are extremely excited about this strategic alliance given our values align with our desire for continuous improvement and service excellence,”Kerzner said.
He described the partnership as being mutually beneficial to both companies, which he said share a similar family culture and client-centric values.
“The way that they think about their business and their brokers, it just felt like such a natural alignment with how TMG views our business, our brokers and ultimately our clients.”
“For us, the alliance just makes sense,” said Gilles Bouillon, founder and CEO of Planiprêt, which will continue to operate under its current brand and its existing systems.
From a technology perspective, Bouillon said both companies will collaborate to maximize capital investments “to accelerate innovation and tools to support brokers and staff.”
“Our perspective was that we could work together with TMG—not to spend the money in the same area, but to work strategically and complement one another,” he said. “I think we’re going to grow together very well. That was the primary reason [for the deal] and we’re pretty excited about that.”
Bouillon said the alliance will allow Planiprêt, which is currently licensed in Quebec and Ontario, to “become a national powerhouse for our existing and future brokers.”