Lifetime and One50 group join; create nationwide full-service accounting and financial advisory3 September by
Lifetime and One50 group join; create nationwide full-service accounting and financial advisory
Lifetime continues its growth strategy to build a long-term sustainable financial advice business to serve New Zealanders with the joining of One50 Group. The deal adds accounting and property accounting partnerships, general insurance and business advisory services to the Lifetime advice suite.
This rounds out the full investment, mortgage, insurance, accounting and business advisory services to become a nationwide one-stop-shop financial advice offering.
“We have been very impressed with the range and quality of services Greg and the team at One50 Group has been able to deliver to clients,” said Lifetime Managing Director Peter Cave. “Philosophically there is a strong alignment to helping clients create greater financial certainty through all life stages, which will further compliment the Lifetime suite of advisory services all under the one national business model”.
Peter Cave will continue as Managing Director of Lifetime, with Greg Munt from One50 Group joining the Executive Leadership team.
“From the initial introduction to the team at Lifetime we could see the values and goals were in alignment,” said One50 Group Managing Director Greg Munt. “The Lifetime team have built a fantastic business with a wealth of experience and knowledge across the country. Our combined businesses complement each other well and will provide many opportunities for both our collective team and clients. We look forward to a successful future as a part of the Lifetime team.”
The combined group will operate under the Lifetime brand, staff and offices from both companies will be co-locating over time, with the team of over 170 people coming together in 14 locations around the country.
“Having One50 join the Lifetime family is entirely consistent with the Board's vision of promoting long-term sustainable growth for the benefit of all stakeholders. Greg and his team are a natural fit for the Lifetime approach and will add strength to our ability to offer enhanced service level offerings to our clients,” said Lifetime Chair, David Whyte. “The future financial well-being of New Zealanders will be greatly improved by the extended breadth and quality of advice available with our combined resources. Operating in the new regulatory environment also increases Lifetime's capacity to ensure better client outcomes provided by our qualified, knowledgeable advisers and their support teams.”
“Over the past year we had completed an extensive strategy review” said One50 Group Chair Richard Coon, “and we could see a lot of changes that would result in industry consolidation. We saw that as a good thing and started to look for a larger group to partner with. Lifetime were a perfect fit with loads of synergy and a very similar culture. Our shareholders are delighted to become shareholders in the expanded group”.
From 1 October 2021, the businesses will become one, with Lifetime shareholders taking full ownership of One50 Group, and One50 Group Managing Director Greg Munt and his team taking a shareholding in Lifetime.
With roots in New Zealand financial services since the 1980s, Lifetime has grown and evolved over the decades. This is the third acquisition in the last 12 months alone as Lifetime continues to build on its long-term sustainable growth model.
New Zealand’s gender pay gap is unlikely to be going anywhere anytime soon and the impact of earning less over a lifetime has an enormous effect on a woman’s immediate and future financial security. This is compounded by a lower level of workplace participation, a tendency to seek part-time casual work and bear the bulk of caring responsibilities for children and other family members. So how can women bridge the gap? Here are some tips on how to build wealth and make positive steps towards pay equity and financial independence despite and in spite of the hurdles women face.