Major brokerage announces new acquisition

by NZ Adviser20 Nov 2015
Squirrel announced today that it has bought Takapuna-based Aspire Advisors for an undisclosed sum, as it continues to expand its influence in the market.

Aspire directors Peter Norris and Andrew Mackay wanted to break the mould of the traditional mortgage and insurance 'broker' and become trusted advisors.

“Over the past couple of years we’ve achieved that but we realised that in order to grow the business to reach our full potential we would need to partner with someone who shared our culture and our aspirations,” says Aspire director Peter Norris.

Founder and chief squirrel John Bolton says the next phase of Squirrel’s growth in the brokerage market means thinking outside the square. 

“We’ve grown tremendously quickly in an organic sense and the next phase requires us to look at new business opportunities, like Squirrel Money, and also acquisitions where and when they fit our model," says Bolton.

"Aspire has a strong team with a culture and drive that matches our own and I’m delighted to welcome them to the Squirrel family.”

Aspire staff includes five mortgage brokers, two life insurance advisors as well as back-office sup-port staff, all of whom will continue to work out of the Takapuna office.

“Our goal is to make sure customers get the best deal they can, whether they’re taking out a mort-gage, investing through Squirrel Money or insuring their lives," says Bolton. 

"By doing that, I believe we will double in size within the next five years,”

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