Morningstar to offer global equities research
Morningstar is set to expand its product offerings with the roll out of further products designed at bringing its local offerings in line with that offered through the research house in the United States.
Morningstar is set to expand its product offerings with the roll out of further products designed at bringing its local offerings in line with that offered through the research house in the United States.
Speaking at the official opening of its new Sydney offices managing director Graham Rich says the group is looking at rolling out shares research covering UK, Europe and Asia as well as Australia and New Zealand.
Separate research will examine the share holdings of managed funds. The two sets of information will be linked allowing planners and investors can see the level of exposure to certain stocks held in any portfolio.
Rich says the benefit of this is in ensuring the correct weighting of an investor’s portfolio in regards to equities.
Much of the impetus and infrastructure for this will be derived from Morningstar’s experience in the United States with Rich saying he was pleased with to be in a relationship with global independent research supplier.
Locally, Morningstar will also be working on member investment tools for superannuation products for average Australians, off the back of its 401(k) experience in the US which it has developed through the Clearfuture.com Web site.
Rich says since the group started operation in Australia two and a half years ago it has lead the market in the transparency of the research process. At the same time, staff in the Sydney office increased from 10 to 40 with 65 now working in Australia and New Zealand.
Morningstar chairperson Ruth Richardson says transparency combined with technology was crucial for the industry and Australia to push forward in financial services.
“Australia needs to be technology and Internet based and to have more transparency in the way it works in the industry. I take it as a good sign that many here are wary about non transparency, as that is a measure of good economically focussed countries,” Richardson says.
AUTHOR
Jason Spits
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
