MFS rolls on
MFS has added another of the firms associated Northplan to its chain of advisory firms. It has entered into a contract to acquire Westplan Financial Services which is based in Hawera.
Friday, May 4th 2007, 6:55AM
"The acquisition of Westplan is yet another step in MFS’ strategy to create a significant New Zealand financial services provider with businesses operating in the funds management, financial advisory, investment banking and property structured finance sectors," MFS says.
The acquisition of Westplan brings the total funds under management and under advice within MFS’ New Zealand financial advisory businesses to more than $1 billion and it has more than 6,000 clients.
Westplan, which has already adopted the Vestar brand, was originally established as a joint venture between Hawera based Halliwell’s lawyers and the Northplan Group. Through the efforts of Westplan’s key advisor and shareholder, Dillon O’Sullivan, it has grown into a significant business in its own right.
“We are very pleased that Mr O’Sullivan has committed to continue to work with Vestar, and will maintain and grow the strong relationships that he has developed with his clients,” MFS New Zealand chief executive Jason Maywald says.
Preston Bulfin and Ken Horner, partners of Halliwells lawyers, said that they were supportive of the transition of the firm into the Vestar Group of advisers.
“Our relationship with Mr O’Sullivan and with Vestar remains very strong, and we will continue to refer to our clients them” they said. “The clients that we have referred to Westplan over the years have always received exceptional client service and investment returns, and we believe that this will only be enhanced as clients of the larger Vestar Group.”
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