Count research mandate announcement within weeks
Accountancy-based financial planning dealer group Count Financial has confirmed that its key service provider contracts are currently under review, including software and external research, with a decision to be announced soon.
The announcement of its external research contract, currently held by van Eyk Research, is expected to be made within a month.
In an update released to the Australian Securities Exchange, Count Financial said that any changes relating to the external research contract, software, product platform enhancements and enhancements to its finconnect business model would be implemented progressively over the next six months.
The company’s announcement came at the same time as it said that funds under advice on approved platforms stood at $6.41 billion, down 1.69 per cent over the last 12 months with total funds under administration excluding direct property standing at $10.14 billion, down 3.52 per cent over the period.
It said the movements largely reflected very low industry investment returns for the 12 months ended 30 September and subdued fund flows — something which was “a current short-term characteristic of the wealth management industry”.
The announcement of the Count Financial’s decision on the key external research and software mandates is expected before its annual general meeting scheduled for 16 November.
AUTHOR
Mike Taylor
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