SHARE and Newpark Group are joining forces to create a 100 per cent New Zealand owned and operated advice network of more than 500 advisers across all facets of financial services including insurance, mortgages, KiwiSaver, and investment planning.
SHARE’s Chair Richard Thomas says the collective strengths of both organisations represent a “…fantastic opportunity for advisers to leverage the scale of the organisation to realise their growth aspirations while safely navigating through new industry regulation”.
Thomas also says SHARE understands advisers want to maintain their autonomy and that the new organisation will offer several business models advisers can choose to operate under.
Newpark founder Darren Gannon 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.
“SHARE has always demonstrated a real commitment to advice and advisers which gives me confidence that all advisers and staff, especially my Newpark colleagues, will continue to thrive in the new network, safe in the knowledge that the team at SHARE would help to guide them into the future.”
SHARE CEO Tony Dench says to avoid any disruption for clients, advisers, and staff a “business as usual” approach would be taken as the two organisations come together in the lead up to the new regulatory regime.
“We look forward to working with our Newpark colleagues, business partners and advisers to build an organisation focused on delivering choice, independence, support and doing the right thing for clients…because advice matters,” he said.
SHARE was founded in 2008 as a network of financial advisers and conducts business through two distinct operating models:
Distribution Agreement Model: Adviser businesses can come under the umbrella of the SHARE NZ Financial Advice Provider (FAP) Licence and use its support services, advice/compliance processes, client data management systems and training.
Corporatised Model: Corporatisation allows advisers to lock in a capital value and sell their interests in a renewal/trail income stream to SHARE NZ Services while remaining in their role as an adviser and remunerated as such.
Newpark is a provider of adviser support tools and platforms to more than 500 qualified financial advisers throughout New Zealand.