Home Trust enters direct-to-consumer space

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A major broker channel player announced Thursday that it is entering the direct-to-consumer space – under a new brand, Oaken Financial -- with consumer deposit products, including savings accounts and GICs.

"The introduction of Oaken is part of Home Trust's efforts to provide customers with a secure alternative to managing their savings independently," said Martin Reid, president of Home Trust. "We want to offer our customers choice, respect and simplicity. Consumers today are also looking for better value and Oaken Financial offers some of the best rates in Canada."

Last year Home Trust made it possible for brokers to offer GICs to clients.

However, this new move widens another channel between it and Canadian consumers and may set the stage for more broker lenders to follow suit.

“The Oaken Savings Account offers a competitive daily interest rate (currently 1.65 per cent), no monthly fees, no transaction limits and requires no minimum balance,” an official statement from Home Capital Group said. “In addition, customers can easily transfer money to and from accounts at other Canadian financial institutions.”

Oaken Financial is set to add online banking for customers in early 2014.

  • Jeff on 12/12/2013 3:58:36 PM

    Oaken?

    I love HT, but with all due respect, that has to be one of the most comical company names I have heard of in awhile.

  • Ron Butler on 12/12/2013 4:41:18 PM

    That's a very interesting point. When you open and name a fresh company today it's all about Google and Bing and how they react to the name. That's why household name companies rename as something goofy like Diageo, the most famous booze brands in the world end up as this crazy name: because there is zero confusion.

    Google Oaken Financial and the whole page is just "Oaken" no similar companies, no paid ads, no confusion.

    Today the web dictates a new name.

  • John on 12/12/2013 10:36:47 PM

    Ron this is the stupidest comment I have ever heard! Home Trust is great in many things but branding is not one of them! Their aren't company is called Home Capital Group, Broker lender called Home Trust and new B2C arm is called OAKEN Financial? and you call this smart? don't think so!

  • Ron Butler on 13/12/2013 9:06:01 AM

    Anonymous John, I don't even no why I am responding to such an idiotic comment. Gerry Saloway is one of the smartest, most successful guys in the mortgage business for the last 30 years and even if he is no authority on digital marketing he hires people who are.

    Clearly you are too dumb to understand my references, you would not get why it is vital to use a unique name for the sake of SOE and many other reasons of page clarity and mobile device response. It's like I was trying to explain something to a chimp in your case.

    So I will leave you to your own marketing program of dropping off Timbits at Realtors offices and hoping that you will finally get to the point in our business when you can cut back to working just weekends at Burger King.

  • Easy Decision on 13/12/2013 9:51:22 AM

    The Burger King comment made my day. That's some good material...I may have to borrow! :-)

  • Mike Smith on 13/12/2013 11:46:26 AM

    Settle down Ron....you are staring to sound like Rob Ford.

  • Ron Butler on 13/12/2013 11:59:47 AM

    I look like Rob Ford so I may as well sound like him, I hope I can get the same discount pricing on the crack.

  • Chris on 13/12/2013 1:57:29 PM

    Hey Ron...settle down. Too hyper on your comment.

  • Ron Butler on 13/12/2013 2:02:26 PM

    Anonymous Chris, grow a sense of humor. The only people who look at this site are in our business. If someone says something stupid to me they will hear about it. Too old to change now.

  • John on 16/12/2013 6:52:38 AM

    Ron is Gerry Soloway and NOT Saloway! Ron obviously you are the dumb one here who thinks a name has to do with SEO! I have an MBA from one of the top biz schools in Europe, how about you? have you even graduated from high school? What is so sad is that you actually think SEO has anything to do with a Brand or a Name! We are all agree that Gerry is smart, but smart People make dumb decisions as well and Dumb People make good decisions too! you are a great example of that because you choose to become a Mortgage broker or else you would probably been at the corner of some busy street, collecting quarters.

  • Ron Butler on 16/12/2013 7:16:15 AM

    You are John Anonymous, you don't even exist, you are an coward, a lurker, a voice emanating from your parents basement. You don't use your name because you are an insect, wait, that may too good for you, maybe a microbe. Why not say you have a PHD from Harvard? It would all be the same because it's all just a lie since you are a gutless wraith who won't use your real name. if you used your actual name then everybody would know that you are actually just a speck of dust in this business. Grow a pair and then check back in with your actual name.

  • Aylmer on 16/12/2013 7:35:06 AM

    So much for goodwill to all men, whether in the biggest Toronto c-suite or their parent's pokey basement.

  • Gary on 16/12/2013 8:10:18 AM

    Ron, No wonder you Like Rob Ford!

    You look like Rob Ford, You talk like Rob Ford, You are a bully like a Rob Ford and you treat people Like Rob Ford. You give this industry and the good people in this business a wrong name. You should be ashamed of yourself.

    If a person doesn't want to use their name on this forum, that is their choice! you have no right to be angry at them. If CMT or CMP wanted to stop this, they could simply make people register. they don't do that, have you ever asked yourself why? stop being a jerk and stop being like Rob Ford. He is giving Toronto a bad name and you are giving our industry a bad name!

  • Ron Butler on 16/12/2013 8:18:39 AM

    Gary Anonymous, please re-read my John Anonymous post and realize it largely applies to you as well. Also, never once said I liked Rob Ford.

    PS, there are plenty of good people and plenty of bad people and lots of just average people in this business same as every other walk of life.

  • M. Robertson on 16/12/2013 9:38:19 AM

    Ron... It sounds like maybe you are starting to crack under the pressures of the holiday season...

    If you seriously believe that the ONLY people who read this site are industry folks, you are wrong.

    You may very well be right in your opinion, but your comments are at best unprofessional and in the end, only make you look bad.

  • Ron Butler on 16/12/2013 9:41:28 AM

    M .Robertson, the very famous broker, sooner or later you show up.

  • Andrew on 17/12/2013 9:34:40 AM

    Ron is partially right about the name. Biggest thing if you read that your forgetting is this new line is direct to clients not brokers. So they clearly want a completely separate name to attract new clientele that may have been put off with the idea of dealing with a "trust" company for savings instead of a bank ect...
    With how big the company is now in all of Canada I'm sure a lot of money and research went into the decision and it wasn't created over night.

  • Sean Binkley on 18/12/2013 3:31:29 PM

    What a great way to show Christmas cheer and industry cohesion. Hope everyone has a great holiday and a prosperous New Year. BTW, "Oaken" means anything made of wood (such as what some of our male craniums are made of when we choose to battle over such miniscule things) I vote for more discussions next year on... tackling the banks, national licensing, best practices (I know I'd like to learn from my peers)... Merry Christmas everyone!

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