NZFSG merges with Kepa
The nation's biggest broker group, NZFSG has effectively completed a takeover deal. Kepa's mortgage business will become part of its larger rival, marking the latest phase in industry consolidation.
The two groups have been in talks for several months, TMM Online understands.
Kepa’s members will be integrated within the NZFSG-Loan Market dealer network. Kepa advisers will be given the option to move onto NZFSG's MyCRM system, while Kepa’s staff will transfer to the merged business.
Kepa’s general insurance arm will remain with Kepa’s holding company, Kepa Financial Services. The assets are expected to be divested, and KFS eventually wound down.
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