Hobson Wealth Partners is buy and sell listed NZX securities for its clients from next week, using a team of dealers.
The firm had previously used a third-party provider but has become a trading and clearing participant of the New Zealand exchange.
“This is an important development for Hobson Wealth and its clients as well as the New Zealand market," said managing director Warren Couillault.
“Where a number of our competitors are outsourcing trading activities, Hobson Wealth has chosen to establish specialist trading capability to better service its private wealth clients. One of the benefits of the key executives owning this business and focusing solely on private wealth is we make these strategic decisions ourselves, rather than having them made for us by management in another part of the business or overseas. This ensures the best outcomes for our clients.”
NZX Head of Market Development & Clearing Benjamin Phillips said: “Hobson Wealth’s accreditation provides increased choice for investors looking to access the New Zealand market, and reflects progress on the exchange’s strategic commitment to grow its participant base. We are excited to welcome Hobson Wealth as an NZX cash market trading and clearing participant, and congratulate them on this milestone.”
Hobson Wealth has also expanded its operations team in Auckland and Wellington employing experienced settlements and clearing personnel from within the industry.
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