AMP has grown its presence in New Zealand, with four kiwi financial planning practises joining its AdviceFirst network.
Majority-owned by the AMP Group, AdviceFirst has recently completed acquisitions of John Grogan Insurances Ltd, Advice 4 U, Bob Edwards Insurance and Investments Ltd and Colin Strang Financial Services Ltd.
The transactions mean AdviceFirst now has 39 qualified financial advisers in Auckland, Hamilton, Palmeston North, Kapiti, Lower Hutt, Wellington, Canterbury and Otago providing insurance, investment, lending and superannuation advice to clients throughout New Zealand. All AdviceFirst advisers are members of AMP's Quality Advice Network (QAN).
AdviceFirst executive chairman, Peter Chote, said clients of those businesses will benefit from the scale and security provided by AdviceFirst.
"As a result of these acquisitions, we're excited to welcome a significant number of new clients and demonstrate our unique value proposition to them. We're particularly pleased to be opening a new office in Dunedin as we continue to grow our presence nationwide," he said.
AdviceFirst director and AMP head of QAN and adviser sales Nick Scarlett said: "The QAN provides an exceptional support model to benefit our network of Advisers. They can utilise an extensive range of essential support services contained within a series of nine valuable modules. The modules are designed to assist Advisers to provide clients with industry-leading advice."
Advisers from Advice 4 U and Colin Strang Financial Services are joining AdviceFirst, while Advisers from the other two businesses acquired are voluntarily exiting.
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