MLC strikes deal with Aegis for equities research
AegisEquities Research has struck a deal withMLCto provide direct equities research to advisers within the group through MLC MasterKey Custom platform.
The deal is the first time MLC has signed with an independent provider of research and Aegis will replaceJB Werewhich had been providing equities research to the group for the past four years.
Under the conditions of the deal, Aegis will supply research on stocks within the ASX200 which will boost the equities research under the platform, formerly Flexiplan, to 220 stocks.
The stock research will be delivered by Aegis’ own online delivery system into the platform and will also provide advisers with access to company announcements as they occur.
The deal has an initial term of two years and will use a fee structure that has a fixed and variable component.
Aegis managing director Peter Leodaritsis says the fixed part will be for the underlying costs of providing the research to MLC, while the variable component will be based on the number of users of the research data.
Leodaritsis says the deal is a big win for the group because many of its competitors supply equities research at no cost, while Aegis has always used a fee based model.
“The agreement means we will be, in effect, selling our advice to around 2,000 advisers,” Leodaritsis says.
Aegis won the tender to provide research after beating out more than 18 other providers of equities research after an extensive tender process.
The group was previously known asAssirtEquities Research but changed its name in July last year after the staff bought the business from the St George group.
AUTHOR
Jason Spits
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