Morningstar | Earnings growth is derived from higher organic revenue, tight cost control, and acquisitions.
Through an acquisition strategy, IOOF has been able to successfully take advantage of Australia’s mandatory superannuation contribution requirements and an ageing demographic that increases the demand for retirement savings and for financial advisors. However, Australia’s wealth industry is poised for change after revelations of misconduct at the 2018 Financial Services Royal Commission. We expect that vertically integrated businesses like IOOF will be more proactively regulated by ASIC, incur higher compliance costs, and may find it harder to attract funds and advisors. If regulators ultimately require the dismantling of vertically integrated models, this would be even more damaging. Although we do not think this is the most likely outcome, the potential for a breakup has increased following the Royal Commission.IOOF Holdings is engaged in the financial services industry. Co. provides a range of wealth management solutions for Australians, including: financial advice and distribution services via its network of financial advisers and stockbrokers; platform management and administration such as superannuation and investment administration platforms for advisers, their clients and employers in Australia; investment management products that are designed for investors; and trustee services, including estate planning and administration, personal trustee services, self-managed super fund solutions and corporate trust.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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