Rainmaker, Collins forge research partnership
Two of the biggest names in financial services research have come together under the one roof.
As reported inMoney Managementthis week, wholesale market research house Rainmaker has merged with Tom Collins Research to service both the retail and wholesale markets.
Tom Collins Research's data on dealer groups, discretionary master trusts and financial services technology will be integrated with Rainmaker research on super funds, asset consultants and managed funds.
Rainmaker managing director Chris Page says the merger is an integral part of Rainmaker's push into the retail market. Rainmaker last month launched its latest offering into the market, Rainmaker Workstation, which combines the former Rainmaker Investment Analytics and Super CMS services.
The merger is the latest in a number of corporate plays at Rainmaker, which started when founder Chris Page and James Burkitt sold the group to Thomson Financial three years ago.
Thomson decided to sell the business late last year following a strategic change instigated by the $US1 billion acquisition of Primark. Page then won the bidding for the group from fellow founder James Burkitt and the Investorinfo Group.
Page says he is looking to dilute his 100 per cent ownership of the group to some of its key stakeholders.
Under the terms of the deal, Collins will continue his consultancy practice independent of Rainmaker but his research projects, including the Money Management master trust report and Money Management technology report, will be housed under the Rainmaker banner.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
