Lifetime buys David Tillman Mortgages
Lifetime Financial Security has gone unconditional with the sale and purchase of David Tillman Mortgages in Christchurch.
Friday, June 4th 2010, 4:34PM
by Jenha White
Lifetime chief executive Warren Stephens says he is looking forward to welcoming the Tillman team into the group from July.
"We believe that the mortgage relationship is the cornerstone to the whole financial planning picture and with such a great business as David Tillman Mortgages this complements nicely into the other key services and offerings the Lifetime Group is able to deliver".
He says the acquisition enhances Lifetime's propositions further, building its team and working on its large scale. It now has 95 members including staff and advisers.
David Tillman says he made the sale because in the industry at the moment you either have to grow or get out.
"I'd lost a bit of passion to make the business grow and it is dangerous to sit there and do nothing, so Lifetime happened to come at the right time six months ago."
He says he really enjoys giving financial advice and he would like to do that now if regulation doesn't create a paper war.
"If regulation means a 20 minute conversation over the phone becomes a two-hour paper war, then the intentions are good, but it won't work for me."
He is currently considering what to do next although he does enjoy gliding and has travel plans.
Jenha is a TPL staff reporter. jenha@tarawera.co.nz
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