Amanda Gillespie

Lonsec Research (Lonsec) has announced it has successfully completed the transition of the iRate technology from the liquidator of the van Eyk group of companies.

iRate clients now have access to Lonsec’s comprehensive suite of insourced proprietary research including managed funds, ETFs, SMAs, property funds, infrastructure funds and structured products.

They also have access to performance, fees and features information across more than 10,000 funds via an integrated feed from global data provider Financial Express.

Lonsec says the transition ensures that iRate clients have continuity of service and access to quality financial product research and portfolio construction advice.

“Lonsec has long had a compelling investment research offering and we are excited to now couple this with market leading portfolio construction advice and client reporting tools,” said Amanda Gillespie, Joint CEO Lonsec Fiscal.

iRate has approximately 2800 users, spanning financial planners from some of the country’s largest licensees, as well as a material number of IFA’s.

iRate’s core strengths include the flexibility and usability of its portfolio construction functionality, as well as its suite of easily generated consumer focused reports.

“Efficient access to research and reports, along with simple but powerful tools, are the keys to adviser satisfaction. Quality research remains a given but how it is delivered and the degree to which it can assist client engagement are now just as important. iRate covers all of these bases,” Ms Gillespie said.

In 2015 Lonsec plans to release of iRate version 5 – a major update which is nearly complete. iRate 5 is a step up from the existing platform with enhanced usability and portfolio construction functionality for all users.

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Amanda Gillespie

Lonsec Research has announced they have exchanged contracts to purchase the iRate technology and client base from the administrators of the van Eyk group of companies.

The acquisition of iRate allows Lonsec Research to fast track their technology offering to the planning and fund manager markets. Joint CEO of Lonsec Fiscal Holdings (LFH), the holding company of Lonsec Research, Amanda Gillespie, said: “Lonsec’s reputation for quality research is acknowledged and respected in the market place. The acquisition of iRate will not only allow us to showcase our research to the current iRate clients, but also to enhance and evolve the delivery of research and portfolio construction tools to our existing client base.”

The acquisition is a major stepping stone for LFH who continue to build their stable of businesses throughout the financial services industry. LFH had recruited a new IT team last year to bring to fruition a number of technology plays across the Group. General Manager of the LFH technology, Alex Watson, said the move was extremely logical: “We were recruited to bring to market a series of integrated platforms that would allow advisors, fund managers, superannuation funds and other key financial services entities, access to our vast array of data and research, in a market leading environment. The acquisition of iRate will be a key plank in the process and will save us at least eighteen months of development time and testing.”

The smooth transition of clients on iRate is the focus of Lonsec Research over the coming months. As Lonsec Research’s CEO, David Erdonmez, indicated: “The immediate priority is to ensure the existing services to iRate clients are maintained as seamlessly as possible, and that these clients have confidence in the research rigour of Lonsec that will now underpin iRate. We are also pleased to confirm our commitment to proceeding with the release of iRate Version 5, a major upgrade which will provide material technological advances in portfolio construction for all users”. This is expected to be released in the first quarter of 2015.

Lonsec will be working with the liquidators, Moore Stephens, to liaise with clients with regard to services. The expected date of transition is in three weeks’ time.

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iRate is the online portal for van Eyk’s clients to access its fund manager and shares research, portfolio constructions tools and model portfolios. It is used daily by thousands of financial advisers across Australia. 

Version 4.0 introduced a number of improvements, including major enhancements to the portfolio construction tool. 

The Interactive Tactical Allocation Model (ITAM) assists advisers in making tactical asset allocation decisions and allows them to easily build investment portfolios that take account of changes in markets and the economic outlook. 

van Eyk chief executive Mark Thomas said the new tool reflected van Eyk’s strategic outlook, which recognised the importance of active investment management within a long term strategic asset allocation. 

“Investors should expect ongoing market volatility given the global debt burden and extreme monetary policies and cannot rely solely on market trends to deliver superior returns,” Mr Thomas said. “While we still think strategic asset allocation is very important, we also stress the importance of taking advantage of the shorter term opportunities that a volatile market is going to present.” 

Advisers can follow van Eyk’s tactical asset allocation recommendations for different risk profiles, but the tool also allows them to make adjustments to the underlying assumptions and see the results graphically on a client’s portfolio.

The release of iRate 4.0 is the first milestone in a major development program which will culminate in the release of iRate 5.0 in the first quarter of 2013. 

iRate 5.0 will feature a significantly enhanced user interface fully compatible with smartphones and tablets. 

van Eyk has engaged an additional five software developers to work on the upgrade program. 

Versions 4.1 and 4.2, which will be released over the next two months, will roll out major changes to the presentation of fund research and reporting which will make it easier for advisers to include information in a Statement of Advice. 

An upgrade to the database of managed fund research will provide even more detailed information on the more than 16,000 funds iRate covers and introduces powerful new search and sorting tools. 

New Portfolio Reports will provide an “at a glance” analysis of investment portfolios, including performance data and analysis of asset allocation, manager holdings and fee structures. 

iRate Product Manager Ilona Oshana said the development drive recognised the growing demands on the busy financial adviser. “Advisers need ever more efficient and powerful systems to support them in providing a superior service to their clients,” she said.

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