Morningstar Advisor Workstation Debuts Investment Planning Experience to Deliver Holistic, Personalized Investment Plan Recommendations Based on Investor Goals and Preferences

Rhea-AI Summary

Morningstar has launched the Investment Planning Experience, a new feature within the Morningstar Advisor Workstation, designed to help financial advisors create personalized investment plans for clients. This solution combines independent investment data and research to tailor recommendations based on clients' risk preferences, goals, and values. According to Vimal Vel, head of enterprise advisor software, this tool aims to enhance client engagement and trust by addressing their full financial picture while meeting regulatory standards. The Investment Planning Experience is now accessible through Morningstar's web platform.

Positive

• Launch of the Investment Planning Experience enhances advisor capability to deliver personalized investment plans.
• Integration of comprehensive investment data improves client engagement and trust.
• Addresses regulatory requirements for advisors acting in investors' best interests.

Negative

• None.

The solution combines Morningstar's methodologies and data to help advisors deliver tailored plan recommendations based on risk preferences, values, and investment goals with the push of a button

CHICAGO, Jan. 26, 2023 /PRNewswire/ -- Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today announced the launch of the Investment Planning Experience, a new workflow within Morningstar Advisor Workstation^SM that empowers advisors to create comprehensive, personalized investment plan recommendations to clients. The Investment Planning Experience brings together Morningstar's independent investment data, research, and ratings with investment planning capabilities to help drive successful investor outcomes.

"Advisors are increasingly facing pressure to differentiate themselves because clients today expect personalized investment recommendations. The Investment Planning Experience is an end-to-end solution that helps advisors create investment plans that are centered around the investor's goals and values preferences," said Vimal Vel, Morningstar's head of enterprise advisor software. "The integration in the system provides advisors with one tool for goals, risk, research, and more, eliminating technological hurdles and bringing clear, digestible insights to investors."

The Investment Planning Experience operates as a central hub for personalized investment planning within Morningstar Advisor Workstation. The workflow surfaces different financial considerations – including risk tolerance, sustainability conviction, and goals – and enables advisors to optimize clients' portfolios to reflect those preferences. These factors are then combined and optimized into investment plan recommendations that advisors can share with clients.

"The Investment Planning Experience considers the context of an investor's full financial picture, which builds a deep level of engagement and trust between advisor and client," said Vel. "As regulatory changes require all firms to demonstrate their advisors are acting on investor's best interests, this robust and customizable solution clearly establishes an understanding of client preferences, whilst meeting all requirements."

The Investment Planning Experience is now integrated and accessible to advisors and enterprises in Morningstar's web-based platform for financial professionals, Morningstar Advisor Workstation. Learn more here.

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 owners, retirement plan providers and sponsors, and institutional investors in the debt and private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $239 billion in assets under advisement and management as of September 30, 2022. The Company has operations in 29 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on Twitter @MorningstarInc.

©2022 Morningstar, Inc. All Rights Reserved.

MORN-P

Morningstar Media Contact:

Michael Claussen, +1 312 696-6037 or newsroom@morningstar.com

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SOURCE Morningstar, Inc.

FAQ

What is the Investment Planning Experience launched by MORN?

The Investment Planning Experience is a feature in Morningstar Advisor Workstation that helps advisors create personalized investment plans based on clients' goals and values.

When was the Investment Planning Experience announced by MORN?

The Investment Planning Experience was announced on January 26, 2023.

How does MORN's new feature benefit financial advisors?

It allows advisors to integrate investment data and tailor recommendations, thereby improving client engagement and meeting regulatory standards.

What are the key goals of MORN's Investment Planning Experience?

The goals are to offer tailored investment plans that reflect clients' risk preferences and values, enhancing the advisor-client relationship.