Madison signs new research deal
Sydney-based financial planning dealer groupMadison Financial Grouphas signed on with industry research houseLonsdale Securities(Lonsec) giving the latter its second research contract this year.
Madison will use Lonsec as its primary supplier of research for advisers with the research house supplying the group with coverage of listed equities, managed funds, agribusiness, property syndicates and listed income investments research.
According to Madison managing director Barry Gubbins, Lonsec was chosen because of the “suitability of the research” for financial planners.
“We were previously using a variety of research using bits and pieces from different places. We made the decision to receive all our research from one place, which is less time consuming for us. We looked for a research house which could provide the information we need across the board,” says Gubbins.
Lonsec managing director Norman Graham said Madison’s decision was a positive endorsement of Lonsec’s research team and its offering to financial planners.
Financial planning dealer groupAvenue Capital Managementalso chose Lonsec to provide research for its network of planners earlier this year, making the change from another research house which the group declined to name.
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