Strength in Solidarity – Lifetime Group and Meridian Brokers

Media Release Tues 22 May 2012

Strength in Solidarity – Lifetime Group and Meridian Brokers

“Two great companies coming together.”

That’s how the CEO of Lifetime Group Limited (LGL) Warren Stephens and Director of Wellington based Meridian Brokers Ltd (MBL) John Ashby, describe the recent acquisition of MBL by LGL.

With regulatory changes brought in last July affecting financial service providers and financial advisers, the resulting new environment could mean smaller financial advisory business or advisors working on their own, find it increasingly difficult to continue in the sector.

John Ashby says Meridian knew that being part of a bigger organisation with the experience, knowledge and resources that Lifetime possesses, would be advantageous to everyone concerned. He says the resulting increased size of Lifetime Group and their unique value proposition, will allow advisors to be even better supported and be able to move quickly as the market demands.

“We are adapting to ensure growth, strength and resilience moving forward, for our advisors and clients.”

Warren Stephens agrees. “In this new regulatory environment, identifying synergies in other successful financial advisory businesses and focusing on the different skills and knowledge each can bring to a new, larger combined organisation, is the future,” he says.

Stephens says John Ashby and his team have developed an extremely high performing and prestigious advisory business that works with a large number of high profile corporate and personal clients based in the heart of the Wellington CBD on Lambton Quay.

“This further strengthens Lifetime Group’s position in the market, providing additional diversity, flexibility and even better service for our clients,” he says.

John Ashby (Authorised Financial Adviser - AFA), and Meridian’s Brenden Van Schooten (AFA) and Mike Morris (AFA) will remain key advisors with the expanded Lifetime Group, with a new Registered Financial Adviser (RFA) commencing with the Wellington office in the next few weeks, and existing Lifetime advisor, Greg Little also joining the team. Two administration staff, (one existing and one new), support the office, with further appointments planned as growth continues.

Warren Stephens says Lifetime Group had always intended to expand into the North Island however with the head office located in Christchurch the earthquakes in 2011 delayed the move.

“After July last year, the market changed and we needed to change with it. Having a larger capital base provides greater strength and financial capacity. This move will further strengthen Lifetime’s position as New Zealand’s leading fully integrated Financial Advice Business,” he says.

The purchase does not include the business of Meridian General Brokers Ltd (Fire and General Business) which was sold last year.

http://www.lifetime.net.nz

ENDS

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