Link Financial Group, which operates the Insurance Link and Mortgage Link businesses, has sold a majority share in the firm to home loan and insurance adviser network, New Zealand Home Loans.
Originally established in Hamilton in 1996, with an agenda to find a better financial way for New Zealanders to negotiate the traditional banking system, while also ensuring sufficient insurance protection, New Zealand Home Loans is now a Government-owned subsidiary of Kiwi Group Holdings, which is also the parent company of Kiwibank.
A statement announcing the majority acquisition notes the customer-facing Insurance Link and Mortgage Link brands will continue to operate separately under Link Financial Group, which will be subject to NZ Home Loans input and oversight at Board Level.
Well-known Link Financial Group CEO, Josh Bronkhorst – who will continue in his present role while also retaining a stake in the the new business – said that “…while it will pretty much be business as usual for our people and our clients, it’s great to have NZHL on board to help us drive the business forward and maximise future growth.”
The New Zealand adviser market is growing…
From the NZHL perspective, its CEO, Kip Hanna, observed “The New Zealand adviser market is growing, as more people want personalised service and guidance around their home loans, so despite broader economic headwinds we are optimistic about the opportunity this acquisition will bring for both businesses.”
Hanna also noted the firm is looking forward to utilising the New Zealand technology expertise of LFG “…particularly their proprietary advisory software – Advice Link.”