CFMG Consolidates Specialist Services to Provide End-to-End Debt Recovery Management
New umbrella organisation repositions 40-year debt management industry veteran businesses to provide innovative, holistic debt collection services
Sydney—9th October 2015— ECOLL, Insolvency Management Services (iMS) and Linton Pitt Lawyers today announced the formation of a new parent company called Central Finance Management Group (CFMG). The new umbrella organisation brings the veteran debt management businesses together under one brand to provide holistic, seamless debt recovery services that span the entire accounts receivable cycle.
By integrating three specialist companies under the CFMG umbrella, the company has positioned itself to become a partner of choice for debt management in Australia’s banking, finance, insurance, utilities, commercial, and government sectors.
“We are very pleased about today’s announcement, which is the culmination of more than two years of planning and preparation,” said Kent Roberts, CFMG’s CEO. “While various parts of the companies are well established and have been operating for 40 years, we believe that by bringing these complementary businesses together, we’re paving the way for innovative new approaches to managing the debt collection process.”
Kent was previously the head of ECOLL. He now leads a fresh management team at CFMG that’s committed to working collaboratively with clients to find the right solution for their individual needs.
ECOLL began its operations in 1975 as the first computerised debt collection agency in Australia and is today a leader in debt recovery. It subsequently developed two complementary businesses to help maximise cash flow and successfully resolve debt. iMS was formed in 1995 for specialty collections, followed by Linton Pitt Lawyers in 2003, which provides related legal services.
In addition to debt recovery, CFMG will also provide a variety of other related services, including insolvency, hardship and deceased management, legal services and customised collections solutions. In so doing, CFMG will be uniquely placed to administer the debt management process end-to-end in a fully compliant environment.
Beyond its expanded service offering, CFMG also anticipates significant organic growth over the next 12-18 months as a result of its ability to promote its services to a broader range of industry sectors. Kent expects additional growth through acquisition as well.
“This is an exciting time for CFMG,” Kent noted. “We believe we have the potential to optimise the debt management process at a time when technological advances and heightened regulatory controls are reshaping the industry. We look forward to partnering with a growing range of clients, helping them to successfully navigate these challenges.”
CMFG’s existing roster of high-profile clients include a range of financial institutions with a considerable domestic and international presence.