Lonsec loses AusUnity contract to Morningstar
Lonsec has lost its research contract with Australian Unity Personal Financial Services, as the firm selects Morningstar as its new research provider.
Morningstar would provide Australian Unity Personal Financial Services with research on managed funds, exchange traded funds, stocks and hybrids, as well as economic and investment commentaries and model portfolios.
Morningstar would also monitor input into the investments on the Australian Unity approved product list.
Australian Unity Personal Financial Services has 78 financial advisers across Australia collectively representing approximately $1 billion in funds under advice and a loan book of $311 million.
General manager Australian Unity Personal Financial Services, Steve Davis, said Morningstar's offering was the right fit for the company's existing needs, but that it "also equips us for the future development of our business".
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