tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Tuesday, April 20th, 12:17PM

Insurance

rss
Latest Headlines

SHARE confirms Newpark acquisition

SHARE NZ has sealed a takeover of rival business Newpark Group in a deal that will transform the insurance and mortgage advice industries.

Wednesday, November 18th 2020, 2:21PM

Following an exclusive report by Good Returns this morning, the two adviser groups confirmed their tie-up in a statement.

SHARE's takeover will create a group with more than 500 advisers across investments, insurance and mortgages.

SHARE chairman Richard Thomas said: "The collective strengths of both organisations ensure clients will continue to receive quality financial advice. It represents a fantastic opportunity for advisers to leverage the scale of the organisation to realise their growth aspirations while safely navigating through new industry regulations."

Newpark founder Darren Gannon (pictured), who is selling his controlling stake and stepping down from the board, said: "The combined business brings together a vast array of knowledge and expertise from across the sector to give advisers access to integrated advice and CRM platforms, training, practice development tools, regulatory compliance systems and succession planning.”

Newpark members will have the option of keeping their current regulatory structure and settings, or moving to one of SHARE's operating models.

SHARE operates two models. Its 'corporatised' model allows advisers to lock in capital value and sell their assets in a trail income stream to SHARE NZ Services, taking a share in 'SHARE', and remaining in their role as an adviser.

The second model, the distribution agreement model, sees adviser businesses come under the SHARE FAP umbrella.

Advisers at Newpark have been told it is "business as usual" and will be allowed to be their own FAP under the new regime.

SHARE chief executive Tony Dench said: "We   look   forward   to   working   with   our   Newpark   colleagues, business partners and advisers to a build an organisation focused on delivering choice, independence, support and doing the right thing for clients...because advice matters."

Tags: Newpark Share

« Newpark sold to a surprise buyerHealth Funds Association NZ and Financial Services Council to merge »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Insurance Briefs

Insurance professionals get time to shine
The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has launched an initiative aimed at showcasing the success of insurance professionals.

Cigna retains high Financial Strength Rating
Cigna New Zealand has announced that A.M. Best has reaffirmed its Financial Strength Rating of A (excellent) and Long-Term Issuer credit rating of "a" - "with stable outlooks".

AIA adds more benefits to Vitality; Changes Airpoints

Fidelity Life’s transformation continues with top culture award
Fidelity Life's tech team pick up a gong at IT awards.

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com
x