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
Blackwattle Investment Partners has hired a management trio from First Sentier Investors – who departed amid the closure of four investment teams last year – to run its first equity income offering.
After passing $300 billion in funds under management, Betashares is forecasting the Australian ETF industry could reach $500 billion by the end of 2028.
Ausbil is to expand its active ETF range with two ASX-listed launches, one focusing on global small caps and one on listed infrastructure.
Up to 20 per cent of wealth and asset managers globally are set to be acquired in the next five years, according to Morgan Stanley, with focus expected to move to ‘inter-sector’ deals between industries.
