S&P/Morningstar transaction complete
Standard & Poor’s (S&P) has completed the sale of its mutual fund data business to Morningstar and will now license the data back for use in its research and ratings services.
The transaction includes performance, rankings and holdings data on more than 135,000 funds in more than 30 countries, as well as desktop applications and data feed products.
S&P made the decision to sell this portion of the company in order to focus on its core analytical services revolving around the global funds industry.
The offloading will allow S&P to expand its independent fund ratings and research business, as well as its investment consulting services, including asset allocation, portfolio construction and manager selection.
Recommended for you
It can be extremely hard to realise the gains from financial advice M&A, according to Peloton Partners’ Rob Jones, and more could be gained from firms looking inward at their own practice.
With platforms reporting their quarterly results, there is a clear divide in the adviser markets they are targeting, according to platform specialist Recep Peker, and which would be right for your clients.
The Federal Court has imposed a $10 million penalty on Macquarie Bank for failing to prevent and control unauthorised fee transactions by third parties including financial advisers.
A financial advice firm has seen a weekly decline of 10 advisers, with all moving to a new licensee, while Centrepoint Alliance continues its “growth story”.