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

NZ's Financial Adviser News Centre

GR Logo
Obituary - Highly respected adviser moves on READ ON Dismiss
Last Article Uploaded: Saturday, September 25th, 8:04AM

News

rss
Latest Headlines

Lifetime acquires significant Auckland advice group

Christchurch-based Lifetime Group has done a deal to acquire the One50 Group.

Friday, September 3rd 2021, 6:06AM

Lifetime managing director Peter Cave says the deal helps Lifetime achieve a number of its goals. The group is strong in the regions, but lacked a decent presence in the vital Auckland market.

Also the One50 Group adds accounting and property accounting partnerships, general insurance and business advisory services to the Lifetime advice suite.

"This rounds out the full investment, mortgage, insurance, accounting and business advisory services to become a nationwide one-stop-shop financial advice offering."

Cave says One50 Group is also very good at onboarding clients digitally, while Lifetime takes a more face-to-face approach. It also is good at offering multiple services to clients, something Lifetime has been working towards.

“We have been very impressed with the range and quality of services the team at One50 Group has been able to deliver to clients,” Cave says.

“Philosophically there is a strong alignment to helping clients create greater financial certainty through all life stages, which will further compliment the Lifetime suite of advisory services all under the one national business model."

The deal was funded by bank debt and an equity swap. None of the money Booster's Tahi fund invested in Lifetime as used to fund the deal.

One50 Group managing director Greg Munt and his team will own around 10% of Lifetime once the deal is completed.

Cave will continue as managing director and Munt will join the executive leadership team.

The combined group will operate under the Lifetime brand, staff and offices from both companies will be co-locating over time, with the team of over 170 people coming together in 14 locations around the country.

“Having One50 join the Lifetime family is entirely consistent with the board's vision of promoting long-term sustainable growth for the benefit of all stakeholders. Greg and his team are a natural fit for the Lifetime approach and will add strength to our ability to offer enhanced service level offerings to our clients,” Lifetime chairman David Whyte says.

This is the third acquisition in the last 12 months alone as Lifetime continues to build on its long-term sustainable growth model.

One50 Group chairman Richard Coon said that over the past year the business had completed an extensive strategy review said as it  could see a lot of changes that would result in industry consolidation.

"We saw that as a good thing and started to look for a larger group to partner with. Lifetime were a perfect fit with loads of synergy and a very similar culture."

"From the initial introduction to the team at Lifetime we could see the values and goals were in alignment.”

Tags: Lifetime

« Advisers facing a perfect storm[The Wrap] KiwiSaver for free who would have thought of that? »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.85 3.25 3.55
ANZ 4.44 3.20 3.59 4.00
ANZ Blueprint to Build 1.68 - - -
ANZ Special - 2.60 2.99 3.40
ASB Back My Build 1.79 - - -
ASB Bank 4.45 2.85 3.25 3.55
Basecorp Finance 5.49 - - -
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - ▲2.85 ▲3.25 ▲3.55
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 4.55 ▲3.45 ▲3.85 ▲4.15
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 2.25 1.85 2.35 2.65
Heretaunga Building Society 4.99 3.80 3.90 -
Lender Flt 1yr 2yr 3yr
HSBC Premier 4.49 2.19 2.45 2.69
HSBC Premier LVR > 80% - - - -
HSBC Special - 2.25 - -
ICBC 3.69 2.35 2.75 3.05
Kainga Ora 4.43 2.88 3.28 3.59
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.75 ▲3.80 ▲4.00 4.34
Kiwibank - Offset 3.75 - - -
Kiwibank Special 3.75 ▲2.95 ▲3.15 3.49
Liberty 5.69 - - -
Nelson Building Society 4.95 2.99 3.24 -
Lender Flt 1yr 2yr 3yr
Pepper Essential 4.79 - - -
Resimac 3.39 2.98 2.79 3.29
SBS Bank 4.54 2.99 3.39 3.59
SBS Bank Special - 2.49 2.89 3.09
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - ▲2.65 - -
The Co-operative Bank - Owner Occ 4.40 ▲2.85 ▲3.25 ▲3.49
The Co-operative Bank - Standard 4.40 ▲3.35 ▲3.75 ▲3.99
TSB Bank 5.34 3.35 3.75 4.05
TSB Special 4.54 2.55 2.95 3.25
Wairarapa Building Society 4.99 3.55 3.49 -
Lender Flt 1yr 2yr 3yr
Westpac 4.59 ▲3.45 ▲3.85 4.09
Westpac - Offset 4.59 - - -
Westpac Special - ▲2.85 ▲3.25 3.49
Median 4.54 2.95 3.25 3.49

Last updated: 23 September 2021 8:11am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com