SYDNEY, 12 February 2013 — Morningstar Australasia, a subsidiary of Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, has been selected to provide investment research and tools to WHK Group Limited (ASX: WHG), a leading provider of accounting and related services to small to medium enterprises and high net worth clients.
"It's extremely satisfying to have a group such as WHK select Morningstar to meet its investment research needs," said Morningstar Australasia Chief Executive Officer Anthony Serhan. "This represents an endorsement of our continuing investment in people and technology, our ability to draw on our global resources, and our commitment to innovation in the Australian market. WHK's decision to choose Morningstar signals that we have built a strong multi-layered capability that can take advice businesses confidently into the new environment for the delivery of financial advice."
WHK's 140 financial advisers and paraplanners across Australia will receive Morningstar's research on Australian stocks, managed funds, superannuation funds, exchange-traded funds, listed investment companies, and income securities, as well as fund and stock model portfolios and regular investment market commentaries. The research is delivered through Morningstar® Adviser Research CentreTM, a web-based solution developed specifically for dealer groups and advisers containing proprietary portfolio construction and management tools, and Morningstar DirectTM, a web-based global investment analysis platform. WHK's advisers and paraplanners will receive regular updates on ratings changes for funds and stocks, and Morningstar's fund and stock analysts will provide input into the WHK approved product list.
"We've had an affiliation with Morningstar which has provided support for our internal research capability for many years. Understanding its capabilities meant we had confidence in broadening this service to all of our advisers. Its market-leading software tools and extensive coverage of listed and unlisted investments were all key to our decision-making outcome. We feel confident that Morningstar can meet the needs of both our advisers and the dedicated research group," said WHK Head of Research Jeremy McPhail.
About Morningstar Australasia and Morningstar, Inc.
Morningstar Australasia Pty Limited is a subsidiary of Morningstar, Inc., a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individuals, financial advisers, and institutions. Morningstar provides data on more than 385,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than eight 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 management subsidiaries and had approximately US$195.0 billion in assets under advisement and management at 30 September 2012. The company has operations in 27 countries.
About WHK Group
WHK Group Limited ('WHK') is the fifth-largest accounting business in Australasia. WHK is also the largest provider of accounting and related services to small medium enterprises and high net worth clients. WHK's focus is on providing total financial solutions to clients through ten core services. Building trusted client relationships through responsive, reliable, and practical advice ensures that WHK's clients receive better advice for a better life.