New Zealand financial advisory giants merge

New Zealand financial advisory giants merge | Insurance Business New Zealand

Insurance News

New Zealand financial advisory giants merge

Deal to enhance services for members and clients

Insurance News

By
Roxanne Libatique

The Triple A Advisers Association and Plus4 Insurance Solutions have merged, a move set to reshape the landscape of financial advisory services in New Zealand.

This deal aims to enhance the level of support provided to both organisations’ advisers and, by extension, to the advisers’ clientele.

Peter Standish, group general manager of Plus4, said the merger is a direct result of discussions with members.

“We have been working for some time with members towards this end, and they overwhelmingly supported a vote to merge the two existing organisations. Given that both legacy organisations shared similar objectives and values, there was a compelling case to combine forces to better and more efficiently provide comprehensive support services to adviser businesses,” he said. “This is an exciting time for both organisations, an independent representation owned by advisers for advisers, and we welcome the inevitable interest it will create from other advisers looking for unbiased support for their financial services business.”

What to expect from the Triple A and Plus4 merger

The merged entity, inaugurated as the Independent Financial Advisers Association Limited (IFAA) starting from April 1, aims to deliver an extensive range of support services tailored to the needs of financial advisers.

The governance of IFAA will be overseen by a general manager and an administrator, with a board comprising equal representation from Triple A and Plus4, ensuring a balanced approach to decision-making and strategic direction.

The merger ensures that the services offered across New Zealand will remain unbiased, with a clear focus on providing tailored advice that genuinely serves the interests of a diverse range of clients, free from any ties to particular insurance or financial service providers.

Triple A chair Chris MacKay emphasised the mutual benefits anticipated from this merger, noting the shared vision and the enhanced collaboration opportunities it brings.

“Both organisations welcome their colleagues to the merged group and the synergies that will inevitably flow from the collective sharing culture,” he said. “More importantly, the newly merged entity provides a platform for client-centric advisers who are committed to ethical and professional standards and put the needs of their clients first and foremost.”

Over the next six months, the IFAA board plans to engage with its members to formulate a strategic plan, evaluate the current offerings, and define a unified branding strategy. This initiative will be highlighted by a conference to be held in Queenstown in September, with the final dates pending confirmation. This event aims to foster community among members and outline the future direction of the merged organisation.