Hobson Wealth Partners increases its commitment to the New Zealand financial markets
Auckland, New Zealand: Monday 2 July, 2018
Hobson Wealth Partners (Hobson Wealth) has become a Trading and Clearing Participant of the NZ Exchange, the first New Zealand cash market Trading and Clearing Participant accredited since the launch of the NZX Clearing House in 2010.
From today, Hobson Wealth will be buying and selling NZX listed securities direct for its clients through its team of experienced dealers. Previously, trading activity was outsourced to a third-party provider.
“This is an important development for Hobson Wealth and its clients as well as the New Zealand market” says Hobson Wealth Managing Director Warren Couillault. “Where a number of our competitors are outsourcing trading activities, Hobson Wealth has chosen to establish specialist trading capability to better service its private wealth clients. One of the benefits of the key executives owning this business and focusing solely on private wealth is we make these strategic decisions ourselves, rather than having them made for us by management in another part of the business or overseas. This ensures the best outcomes for our clients.”
NZX Head of Market Development & Clearing Benjamin Phillips commented: “Hobson Wealth’s accreditation provides increased choice for investors looking to access the New Zealand market, and reflects progress on the exchange’s strategic commitment to grow its participant base. We are excited to welcome Hobson Wealth as an NZX cash market trading and clearing participant, and congratulate them on this milestone.”
Hobson Wealth has also expanded its operations team in Auckland and Wellington employing experienced Settlements and Clearing personnel from within the industry.
“We are excited about this important strategic initiative as we continue to look at ways we can further improve our services. Our focus is our private wealth clients, and our commitment to the NZ private wealth sector is increasing further” says Warren Couillault.