ANZ Wealth has rationalised its research contracts, with Mercer now the major provider of investment research and consulting services for its Australian Wealth and Private Banking businesses.
Money Management understands that previous providers included Lonsec for ANZ Financial Planning, and Morningstar for Millennium3. Financial Services Partners was using Morningstar while RI Advice was already using Mercer.
"This appointment reflects ANZ's commitment to ensuring its financial advisers have access to the right investment research and consulting support so that they can continue providing their clients with high quality advice," an ANZ spokesperson said.
"As part of this partnership, Mercer will provide ANZ's Australian Wealth and Private Banking business with managed fund research, economic and investment commentary, adviser support tools, professional development as well as other services including strategic asset allocations and models portfolios."
The appointment is effective from 1 October 2012.
