Northplan buys Turner Financial Services
Kelvin Syms has expanded his financial planning empire with the announcement that his firm is merging with Auckland based Turner Financial Services (TFS).
Wednesday, April 29th 1998, 12:00AM
Kelvin Syms has expanded his financial planning empire with the announcement that his firm is merging with Auckland based Turner Financial Services (TFS).This is the third major change to be announced in the financial planning industry this month. First of all the two largest firms in the Broadbase Group left to follow their own course, next Sovereign announces the purchase of Reeves Moses, now Northplan joins up with TFS.
The common thread to this is that all the businesses (except TFS) are foundation clients of Sovereign’s soon-to-be launched Aegis wrap account.
The Northplan/TFS merger has been mooted for sometime now as both companies have been working closely together in a number of areas including giving seminars.
Syms says the merger creates a strong upper North Island based group, which because of its size will present a strong challenge to competitors.
"It seemed so logical," he says.
Syms and fellow principals Philip Jay of Northplan and Robert Turner are committed to a daily hands-on approach to providing investment advice.
He says one of the principals will attend at least one interview with all the group’s clients.
The merger gives Northplan an efficient and timely entry into the Auckland market, while for TFS it opens access to technology, such as Aegis, and to an expanded network of administrators and advisers.
Northplan already has five offices in the Auckland and Northland area, plus one, Eastplan, in Taranaki. The group is now planning to open an office in North Harbour at the end of May and it has employed Patrick Barnes from Wealthy and Wise to run it.
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