IOOF signs Lonsec for research
By Ben Abbott
IOOFsubsidiaryAustralian Financial Planning Network(AFPN) has signed an agreement with Lonsec to provide the group with its complete research and stockbroking offering.
As a result of the deal, AFPN, a provider of backoffice services and solutions, will have access to Lonsec services including research on listed equities, managed funds research, agribusiness research, property syndicate and listed income securities research, with a full-service stockbroking solution also being made available to AFPN.
The group will distribute the new services to about 240 advisers including those of the Winchcombe Carson Financial Planning dealer group.
IOOF head of dealerships and alliances Scott Monotti says the group opted for Lonsec because of both the suitability of the research for its planners and its ability to integrate with Xplan financial planning software.
“A lot of our advisers are either using Xplan or are in the process of having it rolled out to them. We wanted a seamless solution that would allow advisers to have one application for the whole financial advice process and that would marry well with Xplan,” Monotti says.
He adds that the group had not severed an existing research relationship, but instead wanted to expand the research services that were available to its advisers.
Recommended for you
A strong demand for core fixed income solutions has seen the Betashares Australian Composite Bond ETF surpass $1 billion in funds under management, driven by both advisers and investors.
As the end of the year approaches, two listed advice licensees have seen significant year-on-year improvement in their share price with only one firm reporting a loss since the start of 2025.
Having departed Magellan after more than 18 years, its former head of investment Gerald Stack has been appointed as chief executive of MFF Group.
With scalability becoming increasingly important for advice firms, a specialist consultant says organisational structure and strategic planning can be the biggest hurdles for those chasing growth.
