Morningstar

Michael Wong, CFA

Michael Wong, CFA, is a former sector director for Morningstar.

More From Michael Wong

The narrow-moat bank's efforts for increasing profitability are showing results.
Michael Wong, CFA

The narrow-moat company expects to realize significant synergy savings in the coming months--and may experience revenue synergies, too.
Michael Wong, CFA

With the help of tax reform, the company’s earnings should more than double in five years.
Michael Wong, CFA

With the bill nearing the finish line, we don’t foresee material changes to our fair value estimates or economic moat ratings since lower rates are already baked into our models.
Michael Wong, CFA

With the outlines of tax reform aligning with our previous assumptions, we don’t expect any major changes to fair value estimates or moat ratings.
Michael Wong, CFA

Many financial service firms have already adjusted their business models ahead of greater fiduciary obligations, so we don't anticipate material beneficial or adverse consequences from changes to the rule.
Michael Wong, CFA

The exchange is acquiring eVestment, a data and analytics platform for institutional investors.
Michael Wong, CFA

We believe that the fiduciary rule will live on, and we are currently maintaining our fair value estimates and moat ratings for affected firms.
Michael Wong, CFA

The potential class-action litigation cost of using the best interest contract to receive commissions may take toll on operating margins of the largest firms.
Michael Wong, CFA

The narrow-moat company's new online consumer lending platform, Marcus, has material optionality, but we're not changing our fair value estimate.
Michael Wong, CFA

More About Michael Wong

Michael Wong, CFA is a former sector director, AM Financial Services, for Morningstar*. He covers retail brokerages, wealth management firms, and investment banks.

Before joining Morningstar in 2008, Wong worked in corporate and public accounting. Before assuming his current role in 2017, he was a senior equity analyst, covering capital markets-related companies and insurers. Michael previously served as chair of the equity research department’s valuation committee.

Wong holds a bachelor’s degree in business administration, with concentrations in accounting, corporate finance, and financial services from San Francisco State University. He also holds the Chartered Financial Analyst® designation. Wong has also passed the Certified Financial Manager (CFM), Certified Management Accountant (CMA), and Certified Public Accountant (CPA) exams.

Wong won the “Technology Thought Leadership” award at the 2016 WealthManagement.com Industry Awards for his report, The Financial Services Observer: The U.S. Department of Labor’s Fiduciary Rule for Advisors Could Reshape the Financial Sector. In 2011, he ranked second in the Investment Services industry in The Wall Street Journal’s annual “Best on the Street” analysts survey. Wong was awarded the summer 2005 Institute of Management Accountants CFM Gold Medal.

* Morningstar Research Services LLC (“Morningstar”) is a wholly owned subsidiary of Morningstar, Inc

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