Investment research, portfolio construction and consulting services specialist Lonsec Fiscal Holdings has announced that it has sold its stockbroking business to Sydney based FinClear.
FinClear is a locally owned financial services business providing wholesale market access and outsourcing solutions. The acquisition will now position FinClear with a unique value proposition to deliver independent and quality execution and outsourcing services to wholesale advisory clients.
Sydney and Melbourne Hubs
For existing stockbroking clients, it will be business as usual, with services and staff in the Sydney and Melbourne offices remaining unchanged by the acquisition. Importantly, no additional data or re-signing of documents will be required from clients. FinClear will transition the stockbroking business to new branding in due course.
Meanwhile Lonsec has intensified its commitment to innovate and expand its investment and superannuation research services, with a core focus of enabling better investment outcomes for its intermediary clients, financial advisers, superannuation funds and fund managers.
Joining the board of Lonsec Stockbroking will be David Ferrall, (pictured) formerly of Commonwealth Bank and JP Morgan. Ferrall has over 30 years’ experience in Investment Banking and Stockbroking in Australia and Asia-Pacific. Joakim Sundell, who was until recently a Director and Board member of publicly listed financial software service company GBST for over 15 years and Tony Lynch, who was previously CFO at Pershing Australia, where he was part of the management team that set up and rapidly grew the third party clearing and settlement model in Australia.
«Lonsec and FinClear’s commitment to work closely together means that wholesale advice clients will essentially get the best of both worlds, they will benefit from access to Lonsec’s proven model portfolio and research capabilities, while also knowing that they have the support of a locally owned and independent wholesale broking service through FinClear,» said Amanda Gillespie, Lonsec’s CEO.
