Morningstar Australasia has been reappointed as research provider for the Commonwealth Bank's financial planning groups.
CBA has announced Morningstar Australasia will continue to provide retail research to Commonwealth Financial Planning, Financial Wisdom and BWFA (Bankwest Financial Advice).
The renewed appointment continues a relationship between CBA and Morningstar that has been in place since 2011.
Under the renewed agreement, Morningstar will also begin providing research to Count Financial (replacing Lonsec and Mercer).
Morningstar will continue to work alongside CBA's internal wealth management advice research team.
CBA's executive general manager for wealth management advice, Marianne Perkovic, said the bank's review of its research function focused on "changing consumer preferences and the introduction of digital advice service offerings".
"Over the coming months we will strengthen our advice process by implementing the objective-based advice model, which puts our customers’ personal and lifestyle goals at the centre of the advice provided. To ensure its success we need to bring our financial advisers the best possible solutions to assist clients," Ms Perkovic said.
"A further element of the objective-based advice approach is the enhancement of our retirement portfolios to meet the capital and income requirements of our clients as they live longer in retirement while facing changing economic environments," she said.
The bank said that a change in government did not currently necessitate a change to its economic forecast nor its interest rate expectations...
Anthony Albanese has declared victory at the 2022 federal election. ...