Deal pairs mortgage adviser network with large aggregator
Mortgage adviser network New Zealand Home Loans has announced it will be taking a majority stake in mortgage and insurance aggregator Link Financial Group, which runs the Mortgage Link brand.
NZHL said its home loan and insurance adviser network was geared towards helping people pay off their home loans and achieving financial freedom faster. It is a subsidiary of Kiwi Group Holdings (KGH). The home loan company is 100% government owned and operates independently with its own board, 70 local business owners nationwide and has clear growth aspirations.
Link Financial Group (LFG) is a 100% New Zealand owned mortgage and insurance aggregation business supporting advisers through the LFG and Mortgage/Insurance Link brands. LFG supports more than 200 adviser businesses with annual lending of almost $3 billion. LFG also includes FG Link (its fire and general insurance arm) and a technology business in Advice Link – LFG’s own proprietary adviser software.
NZHL independent chair Richard Westlake (pictured above left) said LFG was another Kiwi success story that represented a shared growth opportunity.
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“In NZHL and LFG you’ve got two financial services businesses with more than 50 years in the New Zealand market between them. We’re a ‘passionately Kiwi’ business and delighted to be keeping it Kiwi with this investment,” Westlake said. “As more of an aggregation and technology business that supports advisers through LFG and Mortgage/Insurance Link customer facing brands, LFG will operate separately, with NZHL input and oversight at board level.”
NZHL CEO Kip Hanna (pictured above centre) said although NZHL and LFG had different client propositions, both businesses were committed to helping New Zealanders get ahead financially.
"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 said.
"We’re also looking forward to utilising the New Zealand technology expertise of LFG, particularly their proprietary advisory software Advice Link.”
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LFG CEO Josh Bronkhorst (pictured above right) said LFG was staying invested and welcomed NZHL’s investment.
“It’s an exciting time for both businesses,” Bronkhorst said.
"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.”
