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TMM - News Bites

Resimac moves into asset finance

Monday 16th of December 2019

Resimac has snapped up a 60% stake in International Acceptance Group, effective January 1.

The deal sees Resimac step into the asset finance space. IA Group is a commercial and consumer lender with a principally funded portfolio of A$50 million. 

The acquisition is part of Resimac's "diversification strategy and facilities expansion into new secured asset classes", the company said.

Resimac chief executive Scott McWilliam said: "Our investment in IA Group allows us to fulfil a key part of our growth and diversification strategies. It allows Resimac to gain synergies from our growth and diversification strategies and provides the platform for Resimac to enter the asset finance market."

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FMA outlines its latest expectations for advisers
Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
13 hours ago Steve Wright
FMA outlines its latest expectations for advisers
Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
15 hours ago Backstage
FMA outlines its latest expectations for advisers
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