Centrepoint adviser network gains access to Morningstar offering

Advisers operating under Centrepoint Alliance will now have the option to use Morningstar AdviserLogic’s scalable technology, designed to help reduce regulatory compliance and administrative burdens.

Through this partnership, Morningstar will be providing its Australian advice network with managed portfolios and access to comprehensive research. As such, Morningstar has also expanded its Australian team, facilitating the improvement of its customer support, onboarding, and overall service quality.

Morningstar said it expected to see a continued increase on the 2,500 advice professionals currently using AdviserLogic on the back of the Centrepoint deal.

Chris Galloway, Morningstar country leader and managing director wealth, said this step supports the company’s fidelity to advisers and helping them better serve their clients.

"We are committed to delivering Morningstar's integrated solutions in adviser technology and research to Centrepoint Alliance. Our focus remains on supporting the advice industry with cutting-edge CRM, advice generation and regtech tools,” Galloway said.

Centrepoint Alliance chief executive John Shuttleworth said the addition of Morningstar further solidifies the licensee’s commitment to allowing advisers to make their own decisions regarding the technology they use.

"Centrepoint sees technology as pivotal to the success of adviser practices both from an efficiency and client engagement point of view. We believe that we have one of the best tech offers in the market for advisers and are pleased to now extend that offer to include AdviserLogic as a core offering,” Shuttleworth said.

This partnership highlights Centrepoint’s steadfast commitment to allowing its advisers to choose their preferred platforms, despite announcing it was developing its own platform, in partnership with FNZ, under the name “IconiQ”, during its half-yearly results webinar in February.

“One point I just want to reiterate is that Centrepoint is an open architecture business and our commitment is to be open architecture,” Shuttleworth said at the time.

“We provide advisers with a broad choice of platforms and investment managers and have a very expansive approved product list.”

Although Centrepoint had expected to launch the platform in Q3 of this calendar year, a timeline that was supported by its reassurance in May that they were making “good progress” towards its release and expected to launch in early FY25, the platform is still yet to be released.