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AMP acquires four Kiwi advice firms

AMP has expanded its toehold in New Zealand, with four new financial planning practices joining the AdviceFirst network, of which it is a majority stakeholder.

AdviceFirst has bedded down the acquisition of John Grogan Insurances Lyd, Advice 4 U, Bob Edwards Insurance and Investments Ltd and Colin Strang Financial Services Ltd, bringing the total number of qualified advisers to 39 across New Zealand.

“AdviceFirst has a commitment to providing the highest quality advice and as a result of these aquisitions, we’re excited to welcome a significant number of new clients and demonstrate our unique value proposition to them,” said AdviceFirst executive chairman Peter Chote.

“We’re particularly pleased to be opening a new office in Dunedin as we continue to grow our presence nationwide.

“All our advisers benefit from access to [AMP’s Quality Advice Network], which provides them with an extensive range of services to support the delivery of quality financial advice for our expanding client base.”