Morningstar Japan to start advisory service

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, althoug…