About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Sunday, August 30th, 9:04PM
rss
Latest Headlines

More broker rationalisation

Wellington-based FRP Securities is the latest broking business to be gobbled up.

Tuesday, February 13th 2001, 10:06PM

by Philip Macalister

Listed financial services business Dorchester Pacific has further expanded its operations with the acquisition, on Monday, of FRP Securities’ dealing operations.

In the past two years Dorchester has acquired financial planning firm Equity (formerly Phil Brigg’s Equity Research), Invincible Life and Direct Broking. The latest acquisition will be combined under the Direct banner.

FRP Securities operates an investment banking business, headed by Bill Birnie, and a broking business run by Chris Lambert and David Speight.

FRP, which is a corporate member of the Stock Exchange, will keep its investment banking business, while Direct acquires the broking business.

"(Direct) have bought the operations of FRP Securities but not the (NZSE) corporate membership," Lambert says.

He says FRP is probably the second biggest broker in the fixed interest market in New Zealand, plus it has a valuable client base.

He says the fixed interest business will complement Direct Broking’s existing online and retail equity trading services and provide the necessary foundation to offer portfolio management and investment advice to clients.

"We needed to look forward to where we need to go," he says. The deal will help the company build a web presence and give it access to the exchange’s Faster trading system.

"We needed to get into a wider business (other than fixed interest)," he says.

Dorchester’s managing director Brent King says the move was in line with the company’s strategy to grow its financial services operations through acquisition.

"The opportunity to attract two experienced dealers with strong management and advisory skills will assist us to consolidate the group’s various equity and advisory services to create a fully integrated financial services business," he says.

You can read Philip's blog here: http://www.goodreturns.co.nz/blog/

« US headed for recession - but don't panicGet your tax questions answered online »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • Former Mike Pero broker banned
    “Unfortunately Heath did willingly sign a franchise agreement with Mike Pero. He was aware of the terms and conditions when...”
    2 days ago by I was wondering
  • nib plots more growth
    “This is great news, however from my own personal experience nib can't handle the business flows it has at the moment. Their...”
    2 days ago by I was wondering
  • Two advisers investigated
    “Perhaps we're finally going to see a bank adviser and his/her employers facing the music? If it is, it's been a long time...”
    2 days ago by I was wondering
  • Home loan lending takes lower prominence at ASB
    “Hi. Does this mean ASB will focus even more on the growth of there insurance business on taking my clients. Will they continue...”
    3 days ago by Cyril
  • New Zealand lagging on decumulation options
    “I thought it was compulsory in the UK for a person reaching retirement age and receiving a company pension for a good percentage...”
    3 days ago by traveller
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 6.24 5.10 5.25 5.59
ANZ Special - 4.69 4.89 -
ASB Bank 6.50 5.05 5.25 5.35
ASB Bank Special - 4.69 4.89 4.99
BankDirect 6.50 5.05 5.25 5.35
BankDirect Special - 4.69 4.89 4.99
BNZ - Mortgage One 6.65 - - -
BNZ - Rapid Repay 6.24 - - -
BNZ - Special - 4.69 4.69 -
BNZ - Std, FlyBuys 6.24 5.09 5.09 5.19
BNZ - TotalMoney 5.99 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 5.75 5.75 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 5.85 - - -
HBS Bank 6.14 5.39 5.39 5.39
HBS Special - 4.69 4.69 4.99
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.45 5.10 5.40 -
Housing NZ Corp 6.49 5.19 5.49 5.59
Lender Flt 1yr 2yr 3yr
HSBC Premier 6.60 4.89 4.89 4.99
HSBC Premier LVR > 80% - - - -
HSBC Special - 4.49 4.49 4.49
ICBC 6.75 5.99 6.39 -
Kiwibank 6.15 4.79 5.49 5.69
Kiwibank - Capped - - - -
Kiwibank - Offset 6.40 - - -
Kiwibank Special - 5.09 4.65 4.99
Liberty - - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.70 5.65 5.95 -
Lender Flt 1yr 2yr 3yr
NZ Home Loans 6.60 5.39 5.49 6.29
Perpetual Trust 7.70 - - -
Resimac 5.59 5.37 5.40 5.52
SBS Bank 6.14 5.39 5.39 5.39
SBS Bank Special - 4.69 4.69 4.99
Sovereign 6.35 5.05 5.25 5.35
Sovereign Special - 4.69 4.89 4.99
The Co-operative Bank 6.20 4.69 4.79 4.99
TSB Bank 6.24 5.10 5.39 5.45
TSB Special - 4.69 4.69 4.99
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 6.15 4.99 5.19 5.19
Westpac - Capped rates - 6.15 6.15 -
Westpac - Offset 6.15 - - -
Westpac Special - - 4.69 -
Median 6.40 5.09 5.25 5.35

Last updated: 18 August 2015 3:39pm

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com