AMP appoints Morningstar as research consultant



AMP Financial Services has appointed Morningstar as its preferred partner for research consultancy services, with Morningstar analysts to participate in monthly investment committee meetings.
AMP's research team will also have access to Morningstar's fund research, research analysts, and desktop tools, AMP stated.
The agreement is effective from 1 October 2012 and follows a comprehensive review, AMP stated.
Prior to the merger between AMP and AXA, AMP had been using van Eyk Research and AXA was using Mercer.
Recommended for you
ASIC commissioner Alan Kirkland has detailed the regulator’s intentions to conduct surveillance on licensees and advisers who are recommending managed accounts, noting a review is “warranted and timely” given the sector’s growth.
AMP and HUB24 have shared the areas where they are seeking future adviser growth, with HUB24 targeting adding more than 2,000 advisers to the platform.
Bravura Solutions has appointed a new chair and deputy chair to take over from departing Matthew Quinn, while Shezad Okhai picks up another responsibility.
Two advisers say M&A is becoming a “contact sport” as competition heats up to acquire attractive advice firms, while a lack of new entrants creates roadblocks in organic growth opportunities.