Ginger Group strikes alliance deal with Forsyth Barr

Ginger Group chief executive David Whyte said the deal is part of efforts to expand their wealth management services and would see a two-way exchange of expertise, with Ginger Group clients able to access Forsyth Barr's wealth management services while Forsyth Barr clients can tap into Ginger Group's insurance abilities.

"We're pretty bullish we're going to create something quite substantial for the market to look at," Whyte said.

He said an earlier attempt at forming a wealth management alliance with Goldridge Wealth Management had fallen by the wayside as "there wasn't enough of a synergy between the two organisations."

"We thought it would be appropriate to seek support from a more experienced and more substantial partner in the space. Forsyth Barr have got all the cultural synergies that you'd ever want to match with Ginger Group so we're pretty keen to extend our reach in that space."