Gordon Smith (left), Jeremy Cole and Mike Murray's financial services firm Cole Murray continues to grow despite "fierce" competition in the sector. Photo / Supplied
Gordon Smith (left), Jeremy Cole and Mike Murray's financial services firm Cole Murray continues to grow despite "fierce" competition in the sector. Photo / Supplied
Financial services firm Cole Murray has opened a new Hastings office with twice its previous footprint and plans to keep its former premises as demand for financial services continues.
Established in 2005 by Jeremy Cole and Mike Murray, staff has increased in the past three years, from 10 to 15,and is expected to reach 20 in the next 12 months.
Staff will be recruited across KiwiSaver, investment, mortgages, insurance and financial planning sectors.
General manager Gordon Smith said growth was led by increased demand from people wanting a better understanding of their finances.
"With competition so fierce in the finance sector, people are realising there is help available to navigate through all the options," he said.
"We have seen a massive increase in people wanting to sort out their finances to ensure they will be looked after when they retire. Added to that there's the people who are taking advantage of the current drop in interest mortgage rates to buy a home. The relaxation of the LVR means we are receiving inquiries from home buyers every day. Nearly 50 per cent of applications we are processing are from first-home buyers."
He said increased demand from Aucklanders - 12,600 searched for Hawke's Bay homes on Reinz's website in May (up 152 per cent from the same time last year) - meant many would have money to invest after relocating.
The company was loyal to its Hastings CBD locality.
"As well as retaining our current premises in Eastbourne St, we have bought the new building, which sits on the corner of Avenue Rd and Hastings St. Its modern, renovated and open-plan layout will better suit our business."
Mr Smith is the former CEO of Farmers Mutual Group and holds four professional directorships: for EQC (Earthquake Commission), Code Blue Manawatu and Hawke's Bay and the Manfeild Park Trust.
