Morningstar Japan KK intends to add investment advisory services to its current core business of providing mutual fund ratings, says Tomoya Asakura, COO in Tokyo. In the United States and other markets, Morningstar provides advice on areas such as asset allocation to independent financial advisers. Given the lack of IFAs in Japan, the firm is instead going to target banks selling mutual funds.
Japan's rapidly aging population has a growing need to consider financial planning, although most individual investors and distributors remain unsophisticated when it comes to funds, Asakura notes. We hope retail investors will look at our service and not just rely on banks or brokers.
The Japanese mutual...
