Mike Wright
The Lonsec Group (Lonsec) has announced a strategic realignment of its businesses as it continues to strengthen it capabilities and prepare for future growth. This follows the announcement by parent company Generation Development Group (GDG) earlier today of the acquisition of managed account business, Evidentia Group (Evidentia).
Following the acquisition of Evidentia, Lonsec’s research and managed account businesses will realign into two new business units, Lonsec Research and Ratings and Evidentia Group. The new Evidentia Group is the combination of the acquired Evidentia, together with Lonsec Investment Solutions and Implemented Portfolios.
Highly regarded executive Mike Wright, who has served as Group Chief Executive Officer of the Lonsec Group for the past four years, will take up the role of Chief Executive Officer at Evidentia Group. He steps into this leadership function within a fast growing and highly dynamic managed accounts sector that is expected to grow from $206 billion in 2024 to some $474 billion by 2030[1].
Lonsec Research and Ratings will comprise the Lonsec Research, iRate, and SuperRatings brands.
Lorraine Robinson has been appointed Chief Executive Officer of the newly formed entity, readying the business for future expansion. Over the past five years, Lorraine has held the position of Executive Director of Lonsec Research, propelling the business into unparalleled growth during her tenure. Today, the Lonsec business encompasses over 1,800 managed investments, listed securities and superannuation funds researched or rated through its Lonsec Research and SuperRatings brands.
Lonsec’s unrivalled research and ratings track record continues
Grant Hackett, Group Chief Executive Officer at GDG thanked the Lonsec executive team for its enthusiasm to embrace the realigned roles and company structure.
“GDG is excited about the next growth phase for the newly formed Evidentia Group under Mike Wright’s leadership. Equally, the seamless transition of Lorraine Robinson to lead and guide Lonsec Research and Ratings provides a strong platform in support of GDG’s continued investment in the growth and success of our market-leading research business.
“Lorraine is the natural choice to lead the business in its next growth phase and continue to build on the integrity and proud Lonsec heritage of high-quality independent research and ratings services – upon which informed investment decisions are made daily.”
Wright to lead the undisputed leader in the managed accounts sector
With a proven track record of rapid growth in managed account businesses, both at Xplore Wealth and as Lonsec Group’s CEO, Mike Wright brings over 30 years’ financial services experience to his new role. His extensive career in the wealth management sector includes a broad range of leadership roles at BT, Westpac, and ANZ.
He said: “I am thrilled about the next iteration of Lonsec’s journey. This is a celebratory milestone for Lonsec and a testament to the entire team’s contribution to create today’s successful business. Lonsec Investment Solutions has made fantastic strides in the past five years, and it’s exciting to continue that, but also hand the research baton to Lorraine’s proven leadership.
“I’m excited to be working closely with Evidentia Co-founder Peter Smith, who has built a phenomenal business over the past 5 years, and I believe the collective strengths of Evidentia, Lonsec Investment Solutions and Implemented Portfolios will provide unrivalled end-to-end managed account solutions for licensees, financial advisers, and their clients.”
Peter Smith, co-founder of Evidentia, will assume the role of Executive Chairman of the newly formed Evidentia Group and join the Board of Generation Development Group.
Grant Hackett said: “Mike embraced this new opportunity under our realignment and is unequivocally the right individual to lead a new business formed by two managed account market leaders, with a combined total of $25 billion in funds under management (FUM). Mike’s proven leadership and capacity for innovation, makes him an exceptional fit to help take this newly merged business, Evidentia Group, to new heights.”
Robinson to lead the industry-leading research and ratings business
Lorraine Robinson, Chief Executive Officer at Lonsec Research and Ratings said: “The newly established Lonsec Research and Ratings unifies our award-winning research brands, bringing all our centres of research excellence into one business unit, allowing us razor sharp focus on our core vision of helping Australians make better business decisions.
“This realignment of the businesses, backed by GDG’s continued dedication to investing in our growth and continued success, will help us to drive innovation and explore new services for each of our unique client cohorts, working with them closely and remaining at the very forefront of the ever-evolving research sector.”
With the establishment of Lonsec Research and Ratings, the business will continue its unrivalled legacy of fearlessly independent research and ratings services across a broad spectrum of Australia’s investment, superannuation, financial advice, and services sector.
Lonsec Research and Ratings comprising of Lonsec Research, SuperRatings and Lonsec’s award winning research portal iRate, will continue to operate under their distinctive, independent brands. Kirby Rappell, Executive Director of SuperRatings will continue to head up the Superannuation research division and remains an integral member of the leadership team.
Whilst each of the brands service different customer bases, underpinning all is a mandate to provide meaningful insights, data, benchmarking and reporting on investment and superannuation products. Through this unification, Lonsec Research and Ratings will be able to leverage the strengths across all teams to enhance its broader market proposition.
Lorraine’s career within the financial services industry spans over 30 years, with leadership and investment positions in prominent organisations such as Evans and Partners, Goldman Sachs, and Macquarie Group. She brings to the role a deep and broad understanding of the research sector, as well as in-depth, hands-on experience in investment markets.
Final word: An enduring heritage of knowledge and strength in research and managed accounts
Established in 1994, Lonsec has expanded significantly over the past 30 years to become Australia’s market leading and pre-eminent Investment Research provider to the financial services sector.
In 2014, iRate – Lonsec’s award-winning and market leading investment research portal, was purchased by Lonsec, elevating its research service offering to financial advisers and their clients, and accessed today by over 5800 users.
In 2015, responding to the growing administrative and regulatory demands being placed on financial advisers, Lonsec launched its managed accounts business – Lonsec Investment Solutions (LIS), offering a diverse range of managed portfolio solutions, including MDA capability, through its acquisition of Implemented Portfolios in 2022. Its managed account business has grown to $12.7 Billion in funds under management over the past nine years.
Today’s realignment of the Lonsec operating businesses, under market leading executive leadership, backed by the continued investment and resources of GDG Group, heralds a new phase for the Lonsec brand to continue a proud legacy of exceptional performance and enhanced customer experience.
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