Mortgage Advice Bureau has completed an undisclosed investment in Heron Financial, which it says will allow it to leverage the mortgage and insurance firm’s bespoke software to “enhance customer outcomes and adviser performance”.

The AIM-listed broker adds that the partnership will strengthen its “position in new-build real estate, to reflect the changing expectations of their builder partners and their customers”.

Heron, founded in 2011, offers whole-of-market advice on mortgages, protection and general insurance products. It says its customers range from high net worth individuals, first-time buyers, buy-to-let owners to expats.

Mortgage Advice Bureau, which has over 1,600 advisers, has also made investments in new build specialist broker firms Meridian, Metro, and Evolve this year.

The broker also partnered with fintech firm Nivo to launch a secure mobile instant messaging and document gathering service for its brokers in January.

Mortgage Advice Bureau chief executive Peter Brodnicki says: “Securing long-term business success is achieved by understanding the threats and opportunities that advances in technology will bring – and Heron Financial puts technology at the forefront of everything it does, paying close attention to how it can enhance both the client and adviser experience.

“The broker’s systems, processes and approach to lead generation are superb, with exceptional adviser productivity. The business is headed up by an inspirational management team with a clear vision that adapts to meet changing customer needs – and with major growth plans on the horizon, we’re excited about what the partnership can bring.”

Heron Financial director and principal Warren Harrocks adds: “The opportunities as a result of this partnership with Mortgage Advice Bureau will allow us far greater collaboration, in a fast-moving landscape, broadening the opportunities for everyone.”