Westpac Applies Radical Surgery to its Financial Advice Business. FVE AUD 33 Unchanged
Wide-moat Westpac Banking Corporation surprised with a radical restructure of its wealth business, BT Financial Group. The key change is the withdrawal of providing personal financial advice by Westpac salaried financial advisors and authorised representatives. Westpac will retain its insurance, platform, private wealth and superannuation businesses. It is all about simplifying the business, reducing operating and compliance risk and focusing on profitable wealth businesses where Westpac has nat...
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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