They will retain their own brand names but trade under the shared infrastructure of the newly-created NZ Financial Services Group.
Allied Kiwi members will be able to join the Loan Market brand if they want to, which offers access to the Ray White network.
The group will have 500 members. All staff will be retained and brokers will operate under existing commission structures.
Loan Market executive chairman Sam White said brokers and advisers would benefit from more support, resources and opportunities.
Loan Market chief executive David Hart said the merger would enable advisers to grow their businesses. “Allied Kiwi and Loan Market are two brands that have built their success on outstanding customer service and saving home owners money. The size of this new company reflects the trust Kiwi home owners and buyers have in both these businesses.”
Brokers under the Loan Market brand will now be able to offer additional insurance products and financial advice. They would also get an upgraded technology platform, he said.
Allied Kiwi chief executive Brendon Smith said the new company would be able to invest more in infrastructure.
