ING-backed research house to close doors

joint-venture/ANZ/

13 October 2009
| By Lucinda Beaman |
image
image
expand image

ING-backed research house Financial Facts will close its doors by the end of this year.

The announcement was made on September 25, the last working day before the announcement of ANZ’s acquisition of the remaining 51 per cent of the bank’s joint venture with ING.

The research house has serviced ING-aligned dealer groups since 2007, prior to which it was known as ING Research. It has been led by respected researcher Margaret Callinan, supported by research manager Jeremy Graham-Higgs and analysts Fawaz Rashid, Andrew Athas and Hamish Bell.

“Since its launch Financial Facts has managed to successfully guide the ING-aligned dealer groups through the most tumultuous period in our lifetimes. We hope that future research providers will be able to continue this legacy and wish them all the best,” correspondence from the research team said.

The team at the research house will continue to operate in their current positions until Christmas, including completing a number of reports and reviews.

“Beyond that date we cannot presently state what arrangements will be made to replace the research function for our client base,” the letter stated.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 4 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

5 months ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

2 weeks 1 day ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 6 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 4 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND