Reeves Moses balloons

Sovereign owned-Reeves Moses InvestorCare (RMI) is entering a period of intense growth and intends growing its network of offices from nine to 23 within the next two years.

Tuesday, July 6th 1999, 12:00AM

Sovereign owned-Reeves Moses InvestorCare (RMI) is entering a period of intense growth and intends growing its network of offices from nine to 23 within the next two years.
The latest office to open is in Rotorua where former ASB banker Ron Schalkwijk has been appointed regional manager.
In Auckland senior planner Paul Newson and former Oceanic boss John O'Sullivan have bought the majority of the franchise from Sovereign.
When Sovereign bought RMI in April last year it acquired 80 per cent of the Auckland franchise which was owned by company founders Roger Moses and Gary Stevens, however none of the regional franchises.

Newson and O'Sullivan have been in negotiation for some time to acquire the majority of the franchise and concluded the deal recently once their independence was guaranteed.
They own 80 per cent of the franchise and the balance remains in Sovereign's hands.
The partnership plans to significantly increase its presence in the Auckland region through acquisition, the recruitment of financial advisers and strategic alliances with other financial services professionals.
Already the business has formed strategic partnerships with some two other financial planning firms which gives these businesses access to the Aegis wrap account.
RMI Auckland is now known as a licensed practice. Newson, one of New Zealand's most successful planners, will continue in a planning role, but will additionally be responsible for research, fund manager liaison and regulatory supervision of advisers. O'Sullivan is responsible for the management and growth of the business.
The Auckland office has moved into new premises and the former office is now the head office for the group which is run by Moses and Stevens.
Jan Grover has been appointed network operations manager and is responsible for ensuring business practices and standards are meet through the growth period. Also, the investor services team has increased from two to six within the past six months.

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