The ratings house has been in the New Zealand market for seven years and purchased the Perpetual Portfolio Management last year, rebranding as Van Eyk Advice.
It has a team of 10 advisers but Mark Thomas said the goal was to get that to 50 or 60 over the next five years or so.

He said the firm wanted to have a deeper relationship with financial advisers, whether that was through providing them research or them becoming part of Van Eyk Advice.

He said: “We’re actively talking to advisers about joining our advice business, engaging us as a consultant or buying research from us.”

Van Eyk was also looking to buy books of business. “Some of our planners’ books are below what we think are economies of scale,” he said. “So we’re looking to build that and looking to attract new advisers as well.”

Advisers were increasingly looking for support from larger organisations, he said. Van Eyk Advice might appeal because it had established infrastructure and could offer research,  model portfolios  and PIEs used by Van Eyk advisers and external groups.

He said advisers needed support and resources they could rely on.

Van Eyk appealed to some advisers because it was not pushing a particular house product, he said. Some advisers found working for a company that pushed its own product uncomfortable. “They want to be in the independent space and that’s where we resonate. The adviser space is something we’re trying to grow. We’re looking to have as many conversations as we can.”

The wider research market was going through a period of change in New Zealand, Thomas said. Lonsec is pulling out and Chris Douglas, of Morningstar, is moving to the United States.

Thomas said he thought there could be room for one other player in the New Zealand market. But he said models that required fund managers to pay to be rated would not work here.

Van Eyk requires its clients pay for research  - Thomas said it was assessing its charges in New Zealand but a complete research package in Australia was A$4000 for a single office.