SMS Finance have joined the LA Group of Companies, one of Australia’s fastest growing financial services groups which consists of seven companies across lending, financial planning and general insurance, including Lending Association as well as other businesses set up to cater for niche sectors such as medico and agri finance.
SMS Finance, based on the Sunshine Coast, have grown exponentially since their establishment in 1982, and are AFG’s number one broker in Queensland as well as one of the top overall brokers in the state. John McNamara, Founder and Director SMS Finance, commented that “joining the LA Group will bring scale to our business particularly in the areas of marketing, HR and technology. There is a significant opportunity to leverage the LA infrastructure, processes and systems to find efficiencies to support our growth ambitions. We are celebrating 40 years in business this year and joining forces with the LA Group and Lending Association will help us take our client experience and offering to a new level.”
Day-to-day it will be business as usual for SMS Finance – their directors, John McNamara, Joshua Carleton, Brenden Brial and Jonathon Scaroni, will continue with SMS indefinitely and their continued relationship with the SMS team is key to the future success of this agreement.
Steve Bourne, Lending Association State Manager QLD/VIC said that “we are delighted to have agreed to a sale with the directors of SMS Finance. The LA Group and SMS Finance are founded on the same core values and ethos of looking after our customers and staff. While the future business growth potential is significant and very appealing to both parties, it was the strong cultural alignment that drove the decision to move forward with the purchase.”
SMS Finance will serve to expand the LA Group footprint in the Queensland market. Rob Ryan, General Manager – Strategic Projects at the LA Group said that “we are delighted to be working alongside the SMS Finance directors as key executives of the Group. SMS Finance will bolster the LA Group’s position in the market, enabling LA to expand in areas such as Equipment Finance, which is what SMS Finance are best known for. The addition of SMS Finance will enable the LA Group to become one of the largest financial services businesses in Australia.”