• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer
  • Subscribe
  • Twitter
  • RSS Feed

Investment News NZ

Investment News provides financial advisers news stories from the financial industry in New Zealand. Subscribe to our free weekly newsletter.

  • Home
  • News
  • Kiwisaver
  • Subscribe
  • About
  • Advertise
  • Contact
You are here: Home / Investment News / MMC confirmed for Select platform; ex Fisher analyst to head ForBar small-cap research JV

MMC confirmed for Select platform; ex Fisher analyst to head ForBar small-cap research JV

December 20, 2020

Debbie Tuddenham: head of Select Wealth

Select Wealth Management will remain on the platform formerly known as Aegis under a deal inked with MMC last week.

MMC bought Aegis from ASB last year, fully integrating the platform into its existing investment administration business earlier in 2020. Now rebranded as MMC Wealth Administration, the platform hosts “over 70 advisory groups across New Zealand”, the firm said in a release.

Vedran Babic, MMC chief, said in the statement that Select’s decision to renew the platform arrangements was “testimony of our team’s efforts in engaging with our Wealth Administration clients to deliver a clear roadmap, implement operational and system efficiencies and improve the investor experience”.

Part of the Investment Services Group (ISG) that also houses Devon Funds, Clarity Funds and JMI Wealth, Select holds over $800 million in its discretionary investment management services (DIMS) platform used by a range of financial advisory businesses. In November Select also launched a new KiwiSaver scheme hosted by the NZX-owned Smartshares.

Debbie Tuddenham, Select Wealth Management head, said: “It’s clear that MMC are investing in wealth administration services for the future and we’re excited about MMC’s vision and roadmap of future service enhancements and tools. It’s important to us that MMC supports our business growth and future success.”

Last week MMC revealed it would roll out a new set of analytical tools to clients, including wealth administration customers, next year in partnership with Auckland firm, Data Insight.

“As the wealth administration competitive landscape is intensifying, there is a growing demand from investors for a more accessible, information-rich investment experience,” Babic said. “We are excited to be delivering a competitive edge to our clients and creating a pathway for innovation.”

Prior to the MMC purchase, Aegis had seen a number of clients defect to other platforms with the most recent, Hobson Wealth, transitioning about $3.6 billion to the NZX Wealth Technologies non-custodial service early in December. Auckland-based boutique Saturn Advice is also scheduled to shift about $2 billion to Wealth Technologies after giving notice to Aegis in 2019.

Meanwhile, Forsyth Barr has hired former Fisher Funds senior analyst, Zoie Regan, to head its new small-cap research joint venture with Australian firm, MST Financial.

Regan will lead the Forsyth Barr MST Access Research unit to provide in-depth analyst coverage of the mid-to-micro-cap sectors in Australia and NZ.

In a statement, Neil Paviour-Smith, Forsyth Barr managing director, said: “Our focus in this partnership is not only ensuring that mid-sized and smaller entities get covered, but that the research and analysis is of the same very high-quality that our clients currently receive…

“It will provide smaller entities with access to potential investors across the full retail to institutional spectrum in NZ and Australia.”

Headquartered in Melbourne, MST Financial was founded in 2017 by former UBS head of securities for Australia and NZ, Gerard Satur, offering several research options spanning large- to micro-cap stocks

Satur said investors in smaller companies are currently under-served with quality research.

“Investment skews to larger companies due to the commercial models of brokers,” he said. “The extensive research coverage the large companies receives provides greater investor confidence. This means valuable opportunities in smaller companies are often over-looked affecting the company and potential investors.”

The new Forsyth Barr/MST partnership will begin providing research reports in the March quarter of next year.

 

 

 

Twitter0
LinkedIn0
Google+0
Facebook0

Read More » Investment News

Recent articles

  • New Salt suite to spice up fund mix January 17, 2021
  • Wealth head quits ASB for Tower job; Platinum loses Asia manager; Matterson moves from Milliman January 17, 2021
  • Westpac follows ANZ with Northern Trust mandate… January 17, 2021
  • … as Trust Management wins over another senior BT investment hand January 17, 2021
  • Capital ventures into BlackRock’s ETF territory January 17, 2021
  • Fresh CIO role as South Pacific aims for co-investments January 17, 2021
  • Lessons from 2020: don’t stop thinking about tomorrow January 17, 2021
  • SSGA to push big firms on ESG, stays mum on merger January 17, 2021
  • Low-carbon switch: why electric future turns on listed infrastructure investor January 17, 2021

Primary Sidebar

WEEKLY NEWSLETTER

Sign up here to receive our weekly newsletter.
Learn More »

Most Recent Investment News

New Salt suite to spice up fund mix

January 17, 2021

Wealth head quits ASB for Tower job; Platinum loses Asia manager; Matterson moves from Milliman

January 17, 2021

Westpac follows ANZ with Northern Trust mandate…

January 17, 2021

… as Trust Management wins over another senior BT investment hand

January 17, 2021

Capital ventures into BlackRock’s ETF territory

January 17, 2021

Search by Keyword

Investment News

  • New Salt suite to spice up fund mix January 17, 2021
  • Wealth head quits ASB for Tower job; Platinum loses Asia manager; Matterson moves from Milliman January 17, 2021
  • Westpac follows ANZ with Northern Trust mandate… January 17, 2021
  • … as Trust Management wins over another senior BT investment hand January 17, 2021
  • Capital ventures into BlackRock’s ETF territory January 17, 2021
  • Fresh CIO role as South Pacific aims for co-investments January 17, 2021
  • Lessons from 2020: don’t stop thinking about tomorrow January 17, 2021
  • SSGA to push big firms on ESG, stays mum on merger January 17, 2021
  • Low-carbon switch: why electric future turns on listed infrastructure investor January 17, 2021
  • Bitcoin: the nonsensical asset that makes sense for the times January 17, 2021

Investment News Archive

Most Popular Articles

  • Westpac NZ flags retail advice sale to Forsyth Barr posted on October 19, 2020
  • The horror year in technicolour: free KiwiSaver 13 report released posted on September 30, 2020
  • NZ share-trading splurge could trigger tax alarms… posted on October 5, 2020
  • Flint set to spark platform competition posted on August 17, 2020
  • Four to the core: Smartshares to expand, rearrange and reprice ETFs posted on June 22, 2020
  • Kitset KiwiSaver scheme set to unwrap in spring posted on April 27, 2020
  • Funds eye bargains, self-shoppers hoard cash, KiwiSavers turn conservative posted on March 15, 2020
  • AMP Capital NZ chief quits amid equities exodus offshore posted on August 28, 2020

Sponosored Content

David-Boyle

On the industry play-list: four chart-topping regulations for 2021

David-Boyle

Charge of the lite (advice) brigade

Nathan Field

Pandemic Baby Boom a Bust

Star-date 2020: it’s inflation Jim but not as we know it

Quick-links to Popular News

  • FAP Compliance
  • Coronavirus
  • New Appointments
  • Financial Markets Authority (FMA)
  • Kiwisaver
  • Climate Change
  • Crypto Currency
  • Blockchain
  • Insurance

Secondary Sidebar

Recent News

  • New Salt suite to spice up fund mix January 17, 2021
  • Wealth head quits ASB for Tower job; Platinum loses Asia manager; Matterson moves from Milliman January 17, 2021
  • Westpac follows ANZ with Northern Trust mandate… January 17, 2021
  • … as Trust Management wins over another senior BT investment hand January 17, 2021
  • Capital ventures into BlackRock’s ETF territory January 17, 2021
  • Fresh CIO role as South Pacific aims for co-investments January 17, 2021
  • Lessons from 2020: don’t stop thinking about tomorrow January 17, 2021
  • SSGA to push big firms on ESG, stays mum on merger January 17, 2021
  • Low-carbon switch: why electric future turns on listed infrastructure investor January 17, 2021
  • Bitcoin: the nonsensical asset that makes sense for the times January 17, 2021

Footer

Copyright ©2020 InvestmentNews.co.nz — All Rights Reserved ·— Terms & Conditions