Hawke’s Bay experiences growth in demand for one-stop financial services.
Increased demand from Kiwis wanting a better understanding of their finances is behind the move to bigger premises for local financial services company Cole Murray.
On Monday 17 August the welcome mat will be out and the doors open at Cole Murray’s new Hastings location in Avenue Road, doubling the size of its current space.
“The growing need for financial advice and increasing awareness in the market around the choice of services are two of the reasons the company has grown over the past few years. With competition so fierce in the finance sector, people are realising there is help available to navigate through all the options,” says Cole Murray general manager Gordon Smith.
“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 enquiries from home buyers every day. Nearly 50 percent of applications we are processing at the moment are from first home buyers,” adds Mr Smith.
To service the rise in demand, Cole Murray’s staff has increased 50 percent in the last three years alone, 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 parts of the business. “We specialise in managing our clients’ financial journey throughout all stages of their lives. We don’t see financial planning in isolation, it’s important to understand how your financial commitments can work together,” adds Mr Smith.
Recent research shows there’s increasing interest in Hawke’s Bay from out of town investors, particularly from Auckland. According to real estate website realestate.co.nz, 12,600 Aucklanders searched for Hawke’s Bay homes during May 2015, up 152 percent from the same time last year.
Mr Smith expects this activity will have a positive effect on Hawke’s Bay residents, who after selling their homes may have money to invest.
Cole Murray’s growth is good news for potential employees and also for Hastings. As well as employing more staff over the coming year, the company remains committed to basing itself in the town.
“As well as retaining our current premises in Eastbourne Street, we have bought the new building, which sits on the corner of Avenue Road and Hastings Street. Its modern, renovated and open plan layout will better suit our business.
“We offer the broadest range of financial services under one roof in the Bay. Clearly the market has shown there is a rising demand for this type of comprehensive offering.”
– Issued by Sarah Thornton, Thornton Communications.
Got a query? Contact us.
From Monday, 17 August you will find us open for business in the new building at 310 Avenue Road East, which is just a couple of blocks away from our old building, on the corner of Avenue Road and Hastings Street. All other contact details remain unchanged.
For any queries please contact us here.
We look forward to seeing you soon.