Australian investment manager AMP has signed a partnership with Morningstar Australasia, under which the latter will offer external research to AMP’s advice licensees.

The selection of Morningstar is said to be the result of an extensive selection process.

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Under the partnership, Morningstar will offer fund recommendations within its Research Choice portfolios, portfolio performance reporting, as well as managed fund research.

Furthermore, Morningstar will also advise AMP’s licensee investment management committee.

The aim of the partnership is to bolster AMP’s investment research and governance across approved product lists, direct equities and managed portfolios.

AMP director for advice research and policy Brad Green said: “We have worked closely with Morningstar Australasia to agree a robust and comprehensive suite of services and are confident they will support the investment needs of our financial advisers and their clients.”

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Morningstar will collaborate with AMP’s in-house advice research team to offer these services.

Morningstar Australasia managing director Jamie Wickham added: “We are confident Morningstar’s rigorous independent analysis and deep experience will be highly valued by AMP, with the largest network of advisers in the country.”

Another Australian investment manager BT Financial Group inked a similar partnership with Morningstar in September last year.

The agreement enables BT Financial to utilise Morningstar Direct for its research process, approved product list management and reporting requirements.