CBA re-inks deal with Morningstar
The Commonwealth Bank (CBA) has re-appointed Morningstar as its investment research provider for its wealth management business.
The bank's advice licensees, Commonwealth Financial Planning, Financial Wisdom, and BW Financial Advice, would continue to access Morningstar Australia's research, while Count Financial would also get access from 1 September 2016.
Morningstar would continue to complement CBA's wealth management (WA) advice research team with their consulting services and tools, acccording to CBA.
CBA wealth management executive and general manager of advice, Marianne Perkovic, said: "Over the coming months we will strengthen our advice process by implementing the objective-based advice model, which puts our customers' personal and lifestyle goals at the centre of the advice provided".
"To ensure its success we need to bring our financial advisers the best possible solutions to assist clients," she said.
Morningstar had continued to invest in its research offering, with its adviser research centre that now offered upgraded content and research reports.
Morningstar would provide Commonwealth Bank with research on managed funds, stocks, superannuation funds, exchange-traded funds, listed investment companies, and income securities through its web-based research solution, Adviser Research Centre.
Recommended for you
Betashares chief executive, Alex Vynokur, has said that the firm is focused on financial advisers “more than ever” as it grows the business, having announced a merger with managed account provider InvestSense.
L1 Capital has confirmed it intends to vote against the conversion of the Platinum Capital LIC into a listed ETF, meaning the deal “has a high probability of failing” due to L1’s substantial shareholding.
Pinnacle Investment Management has continued its focus on international expansion with the appointment of a managing director from T. Rowe Price.
Financial research firm Wealth Data, which publishes the weekly financial adviser numbers, has been sold to fintech firm Padua Solutions.
