Van Eyk Research moves into New Zealand market
|
|
Australian research house van Eyk Research has signed AMP Financial Service’s New Zealand business as a client in what the group called its first major step into that market.
Van Eyk Research national account manager Luke Fitzgerald will head up the New Zealand operation, a statement from the research house said.
Van Eyk Research chief executive Mark Thomas said the group had watched with interest the emergence of the Kiwi Saver program, as well as the challenges faced by that industry and the move towards more stringent regulation and licensing requirements.
Thomas pointed to the challenges in the provision of advice, including lack of independence and the understanding of risk/reward trade-offs.
In recent decades, financial products have become increasingly complex, technology has changed the way the industry operates and superannuation has been introduced, Thomas said. These factors make a strong case for the provision of independent research in the New Zealand market, he said.
The statement from the group said its Australian business caters for more than 50 per cent of Australian financial advisers, with about $200 billion of funds under advice.
Recommended for you
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
Australian investors are more confident than their APAC peers in reaching their financial goals and are targeting annual gains of more than 10 per cent, according to Fidelity International.
Zenith Investment Partners has lost its head of portfolio solutions Steven Tang after 17 years with the firm, the latest in a series of senior exits from the research house.
