StockMarketWire.com - Property franchise company The Property Franchise Group (TPFG) said it had launched a new financial services division.

Mark Graves had been appointed to the new role of financial services director.

The division would target the acquisition of financial services businesses relevant to the company's core activities.

To that end, TPFG said it had acquired 72.25% of Auxilium Partnership, a protection advisory business, for a non-material sum.

Auxilium Partnership was launched by Graves in March 2019, with the aim of encouraging intermediaries, such as mortgage brokers, to develop their protection business.

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