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Ginger group bursts onto the scene

The merged entity Ginger Group launched this week, made up of Brokers Independent Group (BIG), Professional Investment Services (PIS) and Minerva.

Wednesday, November 17th 2010, 12:49PM

by Jenha White

Chairman Maurice Trapp says the name Ginger Group was conjured as it means "the most active group within an organisation, its aim to inspire and galvanise through enthusiasm and activity" (Wikipedia).

He says Ginger Group is a support services company for financial services organisations and advisers and its focus will be split into thirds of knowledge and education, interaction with clients and sourcing clients.

He made an emphasis on the importance of sharing knowledge within the new group making some quick calculations from a show of hands, finding at least 1,000 years of experience at the road show in Hamilton.

"This is a huge opportunity," says Trapp.

"If we can manage the sharing of all this knowledge through creating a sharing environment at workshops, then there will be huge opportunities for businesses in this industry."

He says he was told to get into the insurance business 30 years ago because there were opportunities with New Zealand grossly under-insured.

"It's still the same case, so we need to change the business model," he says.

The values of the group are to care, share and dare to be different.

Ginger Group executive director Brent Wright introduced the suite of offerings from the group which include: lead generation, training and education, product and sales support, professional relationships, compliance, admin, commissions and revenue, systems, conferences and events.

He says under compliance Ginger Group is a Delegated Assessment Organisation (DAO) with its own assessors and it is also a registered authorised training organisation (ATO).

John Commins is the group compliance manager and there is regional compliance help as well as compliance templates and ongoing development.

Chief executive David Whyte says he has been through regulation in various countries a couple of times and it is the best opportunity the industry has been faced with.

"We're just to take control of distribution and with that opportunity and the right systems we'll make the market sit up and take notice."

The Group has also developed professional relationships with accountants and lawyers.

Ginger Group says coming up next year it will launch an online library with company forms, an electronic monthly newsletter, a quarterly client magazine, an adviser equity scheme with the ability to offer shares to members and group medical.

The Group Board is made up of chief executive David Whyte, chairman Maurice Trapp, executive directors Kevin Smee, Nicola Smee and Brent Wright and directors Grahame Evans and Stephen Grey.

 

Jenha is a TPL staff reporter. jenha@tarawera.co.nz

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