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Mortgage People looks to grow post deal

Auckland-based Mortgage People is planning to expand into new areas following a merger deal.

Tuesday, September 4th 2018, 7:45AM

Greg Barratt, Director, Insurance People and Mortgage People

The new owners of the Mortgage and Insurance People Group have combined their businesses into the group making it a much bigger player in the market.

Last year the People Group was sold to Simon Fisher, Greg Barrett and Katrina Church.

Fisher and Barrett own the Palmerston North-based Preferred Group and that is now part of the People Group. Likewise, Church has sold her business, Fusion Financial Services, into the Group. Added to that the group has also bought the risk business of Waikato based adviser Jeff Goldsworthy.

Fisher, who is now the managing director of the People Group says the deal makes it a very significant player in the market and has a much bigger front print across the country.

“It has been a massive undertaking to get to this stage, but it is an important milestone to ensure that we are well placed for the future in the new regulatory regime,” Fisher says.

He says with the regulatory changes coming it made sense to combine all the businesses into one.

“The merger will allow both businesses to leverage off each’s strengths and provide clients, existing and new, with superior risk, fire and general and mortgage advice nationwide.”

The combined group has 22 risk advisers, nine in the fire and general market and eight mortgage advisers.

Fisher says there are plans to grow the group, especially in the mortgage space.

“The next thing is to really focus on the mortgage broking arm.”

“We will be expanding our service throughout New Zealand under the Insurance People and Mortgage People brands so you will be seeing significant growth in the number of people in the People Group family.”
 
He says by being able to offer three key products, they are better able to ring-fence clients.

Fisher is the Managing Director, with the responsibility of the day to day running of the business. Church’s role will be Head of Client Engagement making sure the group delivers on its customer service propositions. Barrett’s role will be Head of Distribution and Sales, focused on developing new distribution opportunities that the business can leverage from.

Tags: Mortgage People PreferredNZ Simon Fisher

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ANZ Special - 4.05 4.29 4.49
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Housing NZ Corp 5.80 4.69 4.79 4.79
HSBC Premier 5.89 3.99 4.19 4.69
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HSBC Special - - - -
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ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.55 4.69 4.99
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SBS Bank Special - 4.19 3.95 4.49
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Sovereign Special - 3.95 4.29 4.49
The Co-operative Bank - Owner Occ 5.75 4.10 4.35 4.49
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Last updated: 2 December 2018 8:39pm

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