Centrepoint Alliance has bought a “strategic stake” in wholesale advice provider RFE Group for an undisclosed sum.

RFE provides financial planning services, including life insurance, to accountants and mortgage broker clients.

CEO Peter Rheinberger says funds from the deal will help accelerate already strong organic growth.

“We have a strong cultural alignment, and logically Centrepoint had the resources and appetite we needed to execute on our strategy,” he said.

“RFE Group has a long-standing relationship with Centrepoint and we knew it was a team we could trust and rely upon.”

Mr Rheinberger says the partnership will help his company achieve “some big goals”.

Centrepoint MD John de Zwart says the investment shows how his organisation is willing to support professional advice businesses’ growth plans.

“RFE has developed a strong team and proven business model,” he said.

“By partnering with the financial and other resources of Centrepoint, we jointly felt we could accelerate growth.”

Meanwhile, Centrepoint has appointed former iProperty Group CEO Georg Chmiel to the board.

Mr Chmiel has 22 years’ experience in the financial services industry and was previously CEO of the LJ Hooker real estate group.

Centrepoint Chairman Alan Fisher says Mr Chmiel’s experience in strategy, innovativetechnology, distribution and corporate finance will aid the company’s growth plans.