Morningstar | IOOF’s FVE Reduced on Ord Minnett Sale
Through an acquisition strategy IOOF has been able to take advantage of Australia’s mandatory superannuation contribution requirements and an ageing demographic that increases the demand for retirement savings and financial advisors. However, its disastrous appearance at the 2018 Financial Services Royal Commission has led to the unprecedented action of APRA seeking to disqualify five of its leadership team. We believe this has materially damaged its reputation and will make it harder to attract financial advisors and funds and may prompt class action lawsuits against it. We also expect more proactive regulation of it by ASIC and APRA leading to higher compliance cost and reducing the competitive advantage of its distributional reach gained from its extensive network of financial advisors.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.
We have operations in 27 countries.
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