Colonial First State (CFS) has appointed Morningstar Australasia to provide research to its financial planners in its Advice Business.
The research contract includes financial planning groups Commonwealth Financial Planning, Financial Wisdom, Whittaker Macnaught, Advice Essentials and BW Financial Advice, which have in total $35 billion in funds under advice.
Morningstar has replaced Standard & Poor's (S&P) in a competitive tender for the contract.
S&P Fund Services managing director Mark Hoven confirmed S&P's contract had been terminated, but could not provide further comment.
Morningstar will provide the CFS Advice Business with managed fund research and economic and investment commentaries, as well as services including strategic asset allocations, model portfolios, and monitoring and input into the approved product lists.
"We have been investing solidly in our business for a number of years at both the research and technology levels, and now have a demonstrably compelling solution for advisers," Morningstar Australasia chief executive Anthony Serhan said.
The research will be delivered through Morningstar's Adviser Research Centre, a web-based solution developed specifically for dealer groups and advisers.
It includes Morningstar tools such as Morningstar FundScreener, Morningstar Portfolio X-Ray and the Morningstar Investment Illustrator.
The parties said they did not want to provide any financial details of the contract.
