1 Comment 1 Commentby Paul McBeth
New Zealand advisers will be able to tap Lonsec's Australian database of reviewed products, which covers managed funds, property and infrastructure, natural resources, alternatives and structured products. The firm will also review several local managers and domiciled funds.
"The introduction of the Financial Adviser Act 2008 has resulted in an increased compliance and education burden and advisers will need a sound basis for advice," said research manager Darren Howlin. ""The quantitative focus of current research providers in the New Zealand market was another factor."
Howlin said the expansion across the Tasman was in response to demand from advisers and fund managers that needed better local research.
When the portal is up and running, Lonsec will cross-reference current registers of Mutual Recognition of Securities Offerings and Australian Registered Managed Investment Schemes with its Australian disclosure statements to extend the services open to New Zealand clients.
Lonsec has a 35% share of the Australian adviser market, and has been rated number one research house by fund managers for the past five years in Money Management's ‘rate the raters' survey.
Paul is a staff writer for Good Returns based in Wellington.
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