Morningstar hires advice expert for retirement push
Morningstar has hired former Adviser Ratings chief executive Mark Hoven as senior vice president for enterprise sales.
Based in Sydney, he will join Morningstar on 30 October.
This will see him drive the firm’s expansion in the superannuation and retirement sectors, which is becoming a key area in light of the Retirement Income Covenant and the expected intergenerational wealth transfer.
Morningstar is also working with super funds on their climate disclosure requirements and data reporting which are recent obligations introduced by APRA.
The research firm said it already supports several super funds with data-driven solutions, and the hire of Hoven will see it improve member outcomes and drive adviser engagement.
This is driven by a proposal in the Quality of Advice Review for super funds to provide financial advice to their members, and a greater engagement between funds and their members as they approach retirement.
Prior to joining Morningstar, Hoven worked as chief executive of Adviser Ratings for almost four years before becoming the country head of Australia and New Zealand at S&P Global Market Intelligence. He currently has a consulting position at Adviser Ratings as product and sales strategy consultant.
He previously spent over a decade with S&P from 2001 to 2011 in a variety of roles, including head of Pacific fund services and co-head of global fund services.
“With over 23 years of strategic leadership in financial services, Mark will continue to expand and enhance these offerings to the superannuation market, including to profit to member funds,” Morningstar said.
“Mark has an extensive track record of growing wealth-focused businesses from start-ups to new strategic initiatives within global institutions and has held executive roles with S&P Global, Equifax and Adviser Ratings.”
Peter Bryant, Morningstar managing director of enterprise, said: “We are excited to have Mark join Morningstar as we accelerate our plans in this fast-growing and important sector. Mark will be crucial in building our success in the sector with a new perspective on helping both retail and profit to member super funds succeed in a fast-moving investing and regulatory environment.”
Hoven said: “I look forward to helping the super industry better serve members in both accumulation and retirement phases. Morningstar’s capabilities in superannuation are consistent with Morningstar’s mission to empower investor success, and I am excited to be part of that.”
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