Colonial First State (CFS) Advice Business has selected Morningstar Australasia as its new research provider, with S&P Fund Services losing the mandate.
Morningstar will provide CBA-owned dealer groups with managed funds research and economic and investment commentaries, as well as services such as strategic asset allocations, model portfolios and monitoring and input into Approved Product Lists.
The CFS Advice Business includes financial planning groups Commonwealth Financial Planning, Financial Wisdom, Whittaker Macnaught, Advice Essentials, and BW Financial Advice, collectively representing approximately $35 billion under advice.
The announcement followed the review process for the research contract for CBA-owned dealer groups, which commenced in late 2010.
