S&P/Morningstar transaction complete
Standard & Poor’s (S&P) has completed the sale of its mutual fund data business to Morningstar and will now license the data back for use in its research and ratings services.
The transaction includes performance, rankings and holdings data on more than 135,000 funds in more than 30 countries, as well as desktop applications and data feed products.
S&P made the decision to sell this portion of the company in order to focus on its core analytical services revolving around the global funds industry.
The offloading will allow S&P to expand its independent fund ratings and research business, as well as its investment consulting services, including asset allocation, portfolio construction and manager selection.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
