Lonsec acquires Implemented Portfolios Limited

Lonsec has announced the acquisition of Implemented Portfolios Limited (IPL), a specialist managed discretionary account (MDA) provider to high net wealth individuals and affluent retail clients.

Lonsec said the acquisition came as advisers were increasingly recognising and valuing the substantial time savings and operational risk mitigation benefits of managed accounts.

The businesses would be managed separately for the foreseeable future, with IPL becoming a fully-owned subsidiary of Lonsec.

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Michael Wright, chief executive of Lonsec, would become the new chief executive of IPL while Greg Kirk would remain as a non-executive director and all of IPL’s staff would remain within the group.

Wright, said: “I am excited to have IPL joining the Lonsec Group to further enable us to meet the changing needs of advisers.”

The acquisition of IPL expanded Lonsec’s offer with complementary managed account solutions such as separately managed accounts (SMA) and MDA services now available to advisers. It would further diversify the business and positively impact its earnings and margins, before synergies were realised.

Wright said: “The acquisition will not distract from Lonsec’s core business activity of research and ratings via the key business units of Lonsec Research and SuperRatings.

“Lonsec’s Investment Solutions business harnesses the depth and breadth of Lonsec’s extensive research when constructing portfolios. We look forward to sharing our intellectual capital with the IPL team to potentially leverage when constructing and managing client portfolios.”




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