Newpark aggregation group sold

SHARE acquired Newpark in 2020 and has now sold a controlling stake in the business to financial services technology company Tella.

Newpark has just under 200 mortgage advisers who, collectively, settle around $2.5 billion of mortgages every year.

SHARE will keep a minority interest in Newpark Home Loans and will continue to work closely with the business.

Tella, headed by Andrew Chambers, operates an innovative mortgage platform for financial advisers, streamlining the loan application process and making the home loan journey simpler, faster, easier to understand and more enjoyable.

Chambers says, “We’ve been working alongside Newpark Home Loans for several years now and have built a close relationship with the team and the advisers."

"We’re excited about the opportunity to realise the potential of the business by leveraging our technology platform.”

“Whilst the shareholding is scheduled to change, the intention, is to build on the great culture within Newpark, supporting growth within the existing advisers, while creating a home for new advisers to arrive and thrive.”

SHARE chairman Richard Thomas, "The opportunity to partner with Tella in this way to provide access to a modern mortgage adviser platform will bring benefits to advisers and clients alike. SHARE will continue to provide advice on insurance, investments and mortgages and build enduring relationships with clients throughout their life and across generations.”

The SHARE and Newpark run different models, with the former embracing a corporate model while Newpark is more a traditional aggregation group with advisers running their own businesses.