Investment research firm van Eyk has acquired financial services consulting firm The Encore Group for an undisclosed sum.

Encore specialises in providing consulting services, programs and systems to help financial planning practices and dealer groups improve their businesses – attributes van Eyk believes are essential in responding to the profound changes taking place in the financial services industry.

van Eyk’s clients will have direct access to Encore’s intellectual capital, practice management products and consulting services.

van Eyk chief executive Mark Thomas says the acquisition is proof the research firm is developing a more holistic relationship with its clients.

“This acquisition deeply enriches our understanding of our key clients’ needs and challenges at an important crossroads in the industry’s development,” Thomas says.

Professional practice management has emerged as a key component as the industry moves to adopt the federal government’s Future of Financial Advice (FoFA) reforms and many planners look to streamline their practices and move their businesses to a fee-for-service model.

Encore has been operating since 2003 and says it has assisted hundreds of businesses to achieve their growth ambitions, from one-person firms to large dealer groups and institutions, including the big banks.

Group founding partner Graham Peatey believes it is a challenging and exciting time in financial services.

“The opportunity to partner with such an entrepreneurial business like van Eyk is exciting. It is a major decision for us and an experience we are really looking forward to,” he says.

“This relationship validates the role quality practice management services can play in the overall dealer proposition.”

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