PIS contracts Zenith for APL reviews
Professional Investment Services (PIS) has contracted Zenith to provide an annual review of the dealer group's approved product list (APL) and its internal research process, the research house has announced.
Zenith will also sit on PIS' investment committee as an independent third party, while Lonsec and van Eyk retain their position as the dealer group's main research providers.
Appointing an external research provider to review the internal process is a rare occurrence in the large dealer group space, according to Zenith national head of sales John Nicoll.
"This is something we've done for them last year, but we have been appointed to do this on an annual basis," Nicoll said.
The contract comes as PIS-aligned financial planning practice Ulton also appointed Zenith to assist with ongoing development and maintenance of their model portfolios, while Henderson Matusch and Fluid Financial recently signed.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
