Elders is set to increase their expertise and exposure in the financial services market, acquiring Riverland Lending Services (RLS).
RLS is an agriculturally focused loan broking and financial services business, headquartered in the Riverland region of South Australia. Specialising in agribusiness, equipment, business finance and home loan products, RLS operates through four offices, located in Adelaide, Berri, Loxton and Mildura, and an affiliated broker network.
Nick Clark, Elders GM Financial Services and Network Improvement said this is an exciting opportunity to increase Elders’ reach, and drive the ongoing growth of the Elders network across Australia.
“Through this acquisition, Elders will be able to offer a greater depth and breadth of service to clients and we are fortunate to have the ability and reputation of the RLS team to help us do this,” Mr Clark said.
“This acquisition complements our strategy to fill geographical gaps across all facets of lending, and complements our recent investments in employing agri finance relationship brokers across the country.”
Mark Fielke, RLS Managing Director, said the acquisition will provide a heightened level of service for clients going forward.
“RLS has been operating for 20 years, and during this time we have established a strong footprint in South Australia, and expanded successfully into the eastern states. Now seems like the perfect time to join Elders, which will provide the knowledge and expertise to take our business and service to the next level,” Mr Fielke said.
As part of the acquisition, nine RLS brokers and four support staff who are well regarded in the industry will be onboarded, bringing significant expertise to Elders’ existing offering and setting up the business for long-term growth.
Elders continues to look ahead and target growth in strategic locations across Australia in line with the Eight Point Plan.