Customer Remediation Costs and Refunds Continue to Mount. FVE AUD 33 Unchanged
Wide-moat-rated Westpac Banking Corporation announced another AUD 357 million in aftertax provisions for customer remediation costs and related refunds for clients of the bank’s authorised financial advice representatives between 2008 and 2018. This is in addition to the AUD 260 million of costs and provisions announced on March 25, 2019 covering Westpac’s in-house, salaried financial advisors.Our fiscal 2019 forecast cash profit declines to AUD 7.5 billion from AUD 7.8 billion previously as a ...
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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