SHARE outlines growth plans
SHARE chief executive Tony Dench says his firm has further growth ambitions after sealing the takeover of Newpark Group.
Wednesday, December 9th 2020, 6:39AM
Tony Dench
The SHARE boss, speaking to TMM Online after the firm finalised its acquisition of insurance and mortgage group Newpark, says his group will look at new opportunities if they arise.
"We said we have growth ambitions and we have realised those ambitions with this deal," Dench said. "This [Newpark] is where the focus is but SHARE is ambitious and we will look at other opportunities as they present themselves. We will of course look to bed down this amalgamation first."
SHARE has bought the Newpark aggregation business from former shareholders including Darren Gannon, moving it to a new company, Newpark 2020. There are assets still held in the old Newpark business which will be wound down in due course.
Dench said the deal brought in mortgage lending expertise, as SHARE had "built a comprehensive mortgage process" but "didn't have a large number of mortgage advisers".
He has been impressed by the "fast-growing" Newpark Home Loans business.
As per the group's past announcement, SHARE will allow Newpark members to keep their existing regulatory arrangements, and choice of CRMs, under the new regime.
But Dench said SHARE would give Newpark members more options.
"There are extra benefits that members can enjoy as part of the combined group, including the opportunity to take a share in the SHARE co-operative, or accessing the corporatised model for funding or succession planning," he said.
Dench said the combined group would be well placed to offer clients a great service across investments, KiwiSaver, insurance and home loans.
"This deal is all about improving our offering to the client," he said.
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