Published 2 August 2006
Northplan Financial Services Ltd (Kelvin Syms, Bret Jackson & Simon Purvis) has bought 50% of Dunedin financial advisor Colin Strang Financial Planning (1993) Ltd (Colin Strang) for an undisclosed sum.
Northplan has more than $900 million under management and has widened its horizon, calling itself Northplan Investment Specialists. Colin Strang was also part of its Complete Financial Solutions Group network, which includes Swain Financial Services Ltd (Invercargill & Queenstown).
Mr Strang said his company had shared certain services with Northplan for some time, including access to Northplan’s investment committee, which was responsible for asset allocation & product selection.
“Becoming part of a larger group like Northplan just makes sense right now, particularly in light of impending changes to compliance legislation and disclosure for financial advisors,” he said.
The insurance, superannuation & retirement planning business run under Colin Strang Financial Services Ltd is unaffected by this partnership agreement, and both businesses will continue to operate out of the same Dunedin office.
Attribution: Company release, story written by Bob Dey for this website.