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Media Release

Commonwealth Bank re-appoints Morningstar as primary investment research provider for Advice business

CBA re-appoints Morningstar

Commonwealth Bank has re-appointed Morningstar Australasia (Morningstar) as the primary investment research provider for the Advice business.

Commonwealth Bank has re-appointed Morningstar Australasia Pty Ltd (Morningstar) as primary investment research provider for its Wealth Management Advice Licensees – Commonwealth Financial Planning, Financial Wisdom and BW Financial Advice. As part of the appointment, Morningstar will now also provide research to Count Financial from 1 September, 2016.

Morningstar will continue to complement the WM Advice Research team by providing quality research and consulting services, and tools for financial advisers to help them continue to deliver quality advice to customers.

Wealth Management Executive General Manager Advice, Marianne Perkovic, said: “The review focussed on not only our Licensees and financial advisers’ immediate needs but also the future needs in the provision of advice to keep pace with changing consumer preferences and the introduction of digital advice service offerings.  

“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.

“A further element of the objective based advice approach is the enhancement of our retirement portfolios to meet the capital and income requirements of our clients as they live longer in retirement while facing changing economic environments.”  

As a global organisation, Morningstar has continued to invest in its research offering to advisers through its Adviser Research Centre, including upgrades to the format and content of research reports.