Count Financial has terminated its 20-year relationship with research house van Eyk, appointing rival Lonsec as its new research provider for unlisted investments.
“We are excited about forging a new relationship with Lonsec, to continue to grow Count’s excellent reputation of selecting sound investment funds and platforms for our advisers to use to create effective strategies for their clients,” Count chief executive Andrew Gale said.
“Lonsec’s beginnings as part of a financial planning dealer group are also highly compatible with Count’s business model.”
Van Eyk chief executive Mark Thomas said he was disappointed with Count’s decision to end their 20-year relationship.
“We regret this has happened but understand change is a part of business and we wish Count all the best in the future,” he said.
Additionally, Count said it has chosen Iress Market Technology as its new strategic software partner following an extensive review.
Iress’s wealth management platform Xplan will replace Count’s proprietary system WealthPlanner, which is set to be decommissioned in December 2011.
Through Xplan, Count estimates that productivity of the advice process could increase by up to 50 per cent.
Xplan will be implemented for an initial pilot group of Count members in January 2011 with a rollout across the group to begin in March 2011.
Gale said he expects Xplan to bring substantial productivity gains and benefits to the advice and client review process and help deal with some of the upcoming regulatory changes in financial services, such as the requirement for clients to opt in for regular reviews.
