Sharechat Logo

Dorchester buys NI advisory business

By Phil Boeyen, ShareChat Business News Editor

Monday 29th October 2001

Text too small?
Financial services company Dorchester Pacific (NZSE: DPC) is continuing on the acquisitions trail, this time buying a North Island advisory firm.

The business, known as Harts Portfolio Management, has offices in Auckland Tauranga, Taupo, Napier, and Wellington and was formerly Reeves Moses Financial Advisory.

Dorchester Pacific MD, Brent King, says the acquisition is complementary to the company's investments in Equity Investment Advisers & Sharebrokers, New Zealand Investor Monthly and its broking arm Direct Broking.

"This opportunity will allow us to further develop our investment advisory business.

New Zealanders are seeking advice from financial advisors owned and operated by New Zealanders who are independent from the major fund managers.

Mr King says the company is continuing to develop its financial services products and has been receiving significant inquiries from people seeking independent advice, especially given the uncertain economic outlook.

"The events in New York and Washington have had a significant effect on investor thinking."

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Dorchester lifts Turners Auctions stake to 19.85%; no plans to make offer
Dorchester raises $4.1 million in placement supported by major shareholders
Dorchester investors exercise 134 mln options, major shareholders asked to sell down
Dorchester narrows first-half loss, forecasts FY profit
Dorchester agrees to buy EC Credit for $18.5M in cash, stock and earn-outs
Dorchester rescue plan ups net profit
Dorchester profit boosted by capital reconstruction plan
Dorchester appoints general manager, insurance and lending
Dorchester staves off receivers
Dorchester posts annual loss of $19.1 mill