As part of the change advisers have incorporated their respective individual businesses into the new company. Bennetts is part of The Portfolio Group (TPG) which is managed by David Greenslade’s Strategi Group and associated with ING.
While TPG is a loose grouping of advisers in New Zealand it is one of the larger groupings with around $1.6 billion in funds under advice.
The Bennetts deal could be seen as one of the first steps towards corporatisation of TPG.
Giannoulis says ING is talking to all the members of the group, however there are “different ways we can help them.” While the Bennetts model is one option there are also other options such as broker dealer networks.
Marc Lieberman says: “This is the first in a new level of partnership arrangements we are looking to develop. While not all of these will involve ING taking a financial stake or adding our brand to their business, they will all be designed to provide mutual benefits for both parties.”
Besides a new name, Bennetts will have a new logo. The new Bennetts’ logo is also the first to feature the ‘ING Financial Partner’ tagline.
| « Govt backs down on finance company changes | Sovereign takes regulation bull by the horns » |
Special Offers
© Copyright 1997-2024 Tarawera Publishing Ltd. All Rights Reserved