Van Eyk Research moves into New Zealand market
|
|
Australian research house van Eyk Research has signed AMP Financial Service’s New Zealand business as a client in what the group called its first major step into that market.
Van Eyk Research national account manager Luke Fitzgerald will head up the New Zealand operation, a statement from the research house said.
Van Eyk Research chief executive Mark Thomas said the group had watched with interest the emergence of the Kiwi Saver program, as well as the challenges faced by that industry and the move towards more stringent regulation and licensing requirements.
Thomas pointed to the challenges in the provision of advice, including lack of independence and the understanding of risk/reward trade-offs.
In recent decades, financial products have become increasingly complex, technology has changed the way the industry operates and superannuation has been introduced, Thomas said. These factors make a strong case for the provision of independent research in the New Zealand market, he said.
The statement from the group said its Australian business caters for more than 50 per cent of Australian financial advisers, with about $200 billion of funds under advice.
Recommended for you
Shadow financial services minister, Luke Howarth, has stressed the Coalition’s commitment to reforming the CSLR, adding that he ultimately wants to “get rid of it”.
With just over three weeks until the federal election, the FAAA has put a reduction in red tape and further support for new entrants on its priority list for an incoming government.
The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered.
Rather than taking a controlling approach, the latest generation of overseas private equity deals is helping advice firms to achieve their growth ambitions, three commentators have said.
