News Round Up

PIS buys brokerage firm, FPIA starts hunt for ceo, Liontamer launches another fund.

Monday, November 14th 2005, 6:39AM

Professional Investment Services (PIS) has expanded its operations in New Zealand by buying the brokerage business of Rotorua-based Risk Management Solutions, along with a 25% stake in RMS’s software business.

RMS has developed a software programme which primarily produces risk plans for advisers. This service has been promoted into the accounting market.

The company also has a brokerage business for users of its software. Currently it has 35 practices across New Zealand.

PIS plan to help develop the software and roll it out in Australia and its existing Asian operations.

PIS’s New Zealand manager David Keys says the deal is a sign of the ongoing commitment PIS is making to their expanding New Zealand operations.

Hunt for ceo
The Financial Planners and Insurance Advisers Association has started its external search for our new chief executive. It is a fulltime, Wellington-based position, requiring a reasonable amount of travel to member functions, with regular meetings and events outside standard working hours and days.

“We are not looking for refugees from hard work, risk and commitment,” acting ceo Ross Butler says.

Lionatamer launches another fund
Liontamer has launched yet another fund – this time it is linked to the Japanese market. JAPAN Series 1 is a capital protected fund that gives investors 1.3 times the rise in the Nikkei 225 Index. It is a four-year fund and applications are open until December 16.

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