Morningstar, Inc., a leading provider of independent investment research, today launched a new personal financial management portal in the firm’s account aggregation service, Morningstar® ByAllAccountsSM which aggregates investor accounts with daily updates for a more holistic view of total wealth.
The new portal is a mobile-ready, customizable dashboard that pulls together all of an investor’s accounts and updates them daily, giving financial advisors and their home offices a more intuitive and aggregated way to show clients their entire balance sheet. ByAllAccounts recently tripled the number of data sources it aggregates to 15,000 data sources, including liabilities such as loans and credit card debt, to fully understand an individual’s net worth.
Tricia Rothschild, head of advisor solutions for Morningstar, said, “Morningstar has the most comprehensive data in the industry, and our new portal helps advisors, their home offices, and their clients visualize that data together in a more meaningful way.”
She added, “Investors want to work with financial advisors who have a more holistic, or complete, view of their financial situation. Our new personal financial management portal helps advisors free up time previously spent gathering data from disparate sources, allowing them to spend that time more constructively consulting and solving problems for clients. This portal is designed to strengthen the advisor-client experience, especially for the next generation of investors who use their mobile devices to analyze spending activity, track their investments, and make important decisions.”
The new portal includes drag-and-drop functionality that looks at an investor’s total wealth, balance sheet, cash flows, and asset allocation. It includes customized report generation, a document vault, and alerts that notify investors if their asset allocation is no longer in balance, funds are transferred out of an account, or a deposit is made to an account. Advisors can also customize branding of the portal and use it to analyze their entire book of business. For advisors who already have some of these components, they can choose any of these elements as stand-alone tools.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on approximately 525,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on nearly 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement and management as of March 31, 2016. The company has operations in 27 countries.