Forsyth Barr and Westpac today announced the formation of a Strategic Partnership between the two organisations.
Under the new partnership Westpac NZ customers with large investment portfolios will have their investments managed by Forsyth Barr, while their transactional and lending needs will continue to be delivered by Westpac NZ.
The goal is to provide clients with the best of both worlds – great banking products and personalised service from Westpac, and dedicated investment advice with a wider product and service offering from the specialists at Forsyth Barr.
As part of this partnership, Forsyth Barr is purchasing Westpac’s NZ financial advice business. This will see 32 new staff joining Forsyth Barr, across 11 of Forsyth Barr’s 22 offices. As a result Forsyth Barr’s team of investment advisers working directly with private wealth clients is now at 180 across the country.
The partnership continues a period of very strong growth for Forsyth Barr and key in its establishment was a shared confidence in capability. In sharing the announcement, Forsyth Barr Managing Director Neil Paviour-Smith explained that “in successful partnerships the key is always alignment. We believe that together with Westpac we can deliver outstanding outcomes for clients. This partnership signals a commitment by both organisations to delivering the highest quality service to customers throughout New Zealand.”
The partnership will come into effect on 11 December 2020.