Merger complete

Loan Market and Allied Kiwi have confirmed they have completed their merger, creating one of the country’s biggest financial services companies.

Friday, March 1st 2013, 6:00AM 2 Comments

They will retain their own brand names but trade under the shared infrastructure of the newly-created NZ Financial Services Group.

Allied Kiwi members will be able to join the Loan Market brand if they want to, which offers access to the Ray White network.

The group will have 500 members. All staff will be retained and brokers will operate under existing commission structures.

Loan Market executive chairman Sam White said brokers and advisers would benefit from more support, resources and opportunities.

Loan Market chief executive David Hart said the merger would enable advisers to grow their businesses. “Allied Kiwi and Loan Market are two brands that have built their success on outstanding customer service and saving home owners money. The size of this new company reflects the trust Kiwi home owners and buyers have in both these businesses.”

Brokers under the Loan Market brand will now be able to offer additional insurance products and financial advice. They would also get an upgraded technology platform, he said.

Allied Kiwi chief executive Brendon Smith said the new company would be able to invest more in infrastructure.

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Comments from our readers

On 1 March 2013 at 2:01 pm VJ said:
Well done. I think this is a good move. Strengths on both sides - so logical to jump into bed. As a LM member I'm looking forward to getting my hands on the new tech stuff that Allied brings to the table.
On 1 March 2013 at 5:20 pm interested observor said:
With the size of the new group increased commissions should be on the table

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