Morningstar Forms Strategic Alliance with SS&C’s Black Diamond Wealth Platform
Morningstar (MORN) and SS&C Technologies announced a strategic alliance integrating SS&C's Black Diamond® Wealth Platform with Morningstar's new Direct Advisory Suite. This integration combines Morningstar's investment data, research, and portfolio analysis with Black Diamond's portfolio accounting, client communications, and performance reporting capabilities.
The Direct Advisory Suite, built on Morningstar's Direct Platform, represents the next evolution of Advisor Workstation, which serves over 175,000 advisors. It features extensive research tools, advanced portfolio analytics, and AI-powered assistance. The approximately 2,700 wealth management firms using Black Diamond will have optional access to these capabilities.
As part of this transition, Morningstar will retire Morningstar Office, offering users a customized migration process to Black Diamond while maintaining access to Morningstar's data and research.
Morningstar (MORN) e SS&C Technologies hanno annunciato un'alleanza strategica che integra la piattaforma Black Diamond® Wealth di SS&C con la nuova Direct Advisory Suite di Morningstar. Questa integrazione combina i dati sugli investimenti, la ricerca e l'analisi del portafoglio di Morningstar con la contabilità del portafoglio, le comunicazioni con i clienti e le capacità di reporting delle performance di Black Diamond.
La Direct Advisory Suite, costruita sulla piattaforma Direct di Morningstar, rappresenta la prossima evoluzione di Advisor Workstation, che serve oltre 175.000 consulenti. Include strumenti di ricerca avanzati, analisi di portafoglio sofisticate e assistenza basata sull'IA. Le circa 2.700 aziende di gestione patrimoniale che utilizzano Black Diamond avranno accesso facoltativo a queste funzionalità.
Come parte di questa transizione, Morningstar ritirerà Morningstar Office, offrendo agli utenti un processo di migrazione personalizzato verso Black Diamond, mantenendo l'accesso ai dati e alla ricerca di Morningstar.
Morningstar (MORN) y SS&C Technologies anunciaron una alianza estratégica que integra la plataforma Black Diamond® Wealth de SS&C con la nueva Direct Advisory Suite de Morningstar. Esta integración combina los datos de inversión, la investigación y el análisis de cartera de Morningstar con la contabilidad de cartera, las comunicaciones con los clientes y las capacidades de informes de rendimiento de Black Diamond.
La Direct Advisory Suite, construida sobre la plataforma Direct de Morningstar, representa la próxima evolución de Advisor Workstation, que atiende a más de 175,000 asesores. Cuenta con herramientas de investigación extensas, análisis avanzados de cartera y asistencia impulsada por IA. Las aproximadamente 2,700 firmas de gestión de patrimonio que utilizan Black Diamond tendrán acceso opcional a estas capacidades.
Como parte de esta transición, Morningstar retirará Morningstar Office, ofreciendo a los usuarios un proceso de migración personalizado a Black Diamond mientras mantienen el acceso a los datos e investigaciones de Morningstar.
모닝스타 (MORN)와 SS&C 테크놀로지스는 SS&C의 블랙 다이아몬드® 웰스 플랫폼과 모닝스타의 새로운 다이렉트 어드바이저리 스위트를 통합하는 전략적 제휴를 발표했습니다. 이 통합은 모닝스타의 투자 데이터, 연구 및 포트폴리오 분석과 블랙 다이아몬드의 포트폴리오 회계, 고객 커뮤니케이션 및 성과 보고 기능을 결합합니다.
모닝스타의 다이렉트 플랫폼을 기반으로 구축된 다이렉트 어드바이저리 스위트는 175,000명 이상의 자문사를 지원하는 어드바이저 워크스테이션의 다음 진화를 나타냅니다. 이 스위트는 광범위한 연구 도구, 고급 포트폴리오 분석 및 AI 기반 지원 기능을 제공합니다. 블랙 다이아몬드를 사용하는 약 2,700개의 자산 관리 회사는 이러한 기능에 선택적으로 접근할 수 있습니다.
이 전환의 일환으로 모닝스타는 모닝스타 오피스를 종료하고, 사용자에게 블랙 다이아몬드로의 맞춤형 마이그레이션 프로세스를 제공하며 모닝스타의 데이터와 연구에 대한 접근을 유지할 것입니다.
Morningstar (MORN) et SS&C Technologies ont annoncé une alliance stratégique intégrant la plateforme Black Diamond® Wealth de SS&C avec la nouvelle Direct Advisory Suite de Morningstar. Cette intégration combine les données d'investissement, la recherche et l'analyse de portefeuille de Morningstar avec la comptabilité de portefeuille, les communications avec les clients et les capacités de reporting de performance de Black Diamond.
La Direct Advisory Suite, construite sur la plateforme Direct de Morningstar, représente la prochaine évolution de l'Advisor Workstation, qui sert plus de 175 000 conseillers. Elle propose des outils de recherche étendus, des analyses de portefeuille avancées et une assistance alimentée par l'IA. Les environ 2 700 entreprises de gestion de patrimoine utilisant Black Diamond auront un accès optionnel à ces capacités.
Dans le cadre de cette transition, Morningstar retirera Morningstar Office, offrant aux utilisateurs un processus de migration personnalisé vers Black Diamond tout en maintenant l'accès aux données et à la recherche de Morningstar.
Morningstar (MORN) und SS&C Technologies haben eine strategische Allianz angekündigt, die die Black Diamond® Wealth-Plattform von SS&C mit der neuen Direct Advisory Suite von Morningstar integriert. Diese Integration kombiniert die Investitionsdaten, die Forschung und die Portfolioanalyse von Morningstar mit der Portfolio-Buchhaltung, den Kundenkommunikationen und den Leistungsberichterstattungsfähigkeiten von Black Diamond.
Die Direct Advisory Suite, die auf der Direct-Plattform von Morningstar basiert, stellt die nächste Evolution der Advisor Workstation dar, die über 175.000 Beratern dient. Sie bietet umfangreiche Forschungswerkzeuge, fortgeschrittene Portfolioanalysen und KI-gestützte Unterstützung. Die etwa 2.700 Vermögensverwaltungsunternehmen, die Black Diamond nutzen, werden optionalen Zugang zu diesen Funktionen haben.
Im Rahmen dieses Übergangs wird Morningstar das Morningstar Office einstellen und den Nutzern einen maßgeschneiderten Migrationsprozess zu Black Diamond anbieten, während sie weiterhin Zugang zu den Daten und der Forschung von Morningstar haben.
- Strategic alliance expands service offering to 2,700 wealth management firms
- Integration enhances product capabilities by combining Morningstar's research with Black Diamond's platform features
- Maintains existing user base of 175,000 advisors while offering upgraded features
- Discontinuation of Morningstar Office product line may cause temporary disruption for existing users
Insights
This strategic alliance represents a significant shift in the wealth management technology landscape, with substantial implications for both companies and the broader industry. The integration combines Morningstar's research prowess, used by over 175,000 advisors, with Black Diamond's comprehensive portfolio management capabilities, serving approximately 2,700 wealth management firms.
The partnership's strategic value lies in three key areas: First, it creates a powerful moat against competing wealth management platforms by combining Morningstar's unparalleled research capabilities with Black Diamond's advanced portfolio management tools. This integration addresses a critical pain point in the industry - the fragmentation of research, analytics, and portfolio management tools that advisors typically navigate daily.
Second, the retirement of Morningstar Office and migration to Black Diamond represents a calculated strategic pivot. While this transition carries some customer churn risk, the enhanced feature set - including AI-powered assistance, comprehensive compliance workflows, and advanced portfolio analytics - provides compelling incentives for retention. The customized migration process suggests significant investment in ensuring a smooth transition, critical for maintaining client relationships.
Third, the integration of AI-powered assistance in the Direct Advisory Suite signals a forward-looking approach to advisor technology. This positions both companies advantageously in the rapidly evolving fintech landscape, where AI-driven insights and automation are becoming increasingly important for competitive advantage.
From a business model perspective, this alliance creates multiple revenue synergies: enhanced product offerings could drive higher adoption rates among existing clients, while the comprehensive solution may attract new wealth management firms seeking integrated platforms. The partnership also provides both companies with increased pricing power through reduced platform fragmentation and enhanced value proposition.
For investors, this strategic move demonstrates both companies' commitment to innovation and market leadership in the wealth management technology sector. The focus on seamless integration, AI capabilities, and comprehensive solution offering suggests strong potential for sustained competitive advantage and revenue growth.
“This alliance makes Black Diamond the first platform of its kind to integrate Morningstar’s rich research and data capabilities advisors have relied on for decades,” said Steve Leivent, co-head of SS&C's Wealth & Investment Technologies. “The Black Diamond Wealth Platform will offer seamless integration of Morningstar’s industry-leading data and analytics with client workflows.”
Direct Advisory Suite, the latest application built on the Direct Platform from Morningstar, combines extensive research, investment planning, and reporting capabilities with a sleek, intuitive interface. Designed to streamline workflows and enhance productivity, Direct Advisory Suite is the next phase of Advisor Workstation, used by more than 175,000 advisors. The suite offers extensive research tools to compare investment opportunities, advanced portfolio analytics with customizable charting and comparison tools, and a user experience that includes AI-powered assistance to support confident client engagement. Advisors from the approximately 2,700 wealth management firms on the Black Diamond Wealth Platform will have the option to include direct access to these capabilities in the platform experience.
“Black Diamond has been driving innovation in the wealth platform space, and we are excited about the connected experience we can deliver to advisors together,” said Kunal Kapoor, chief executive officer of Morningstar. “Advisors are central to our mission of empowering investor success. We have a long history of serving them directly with content, technology, and investment products or indirectly through strategic alliances with businesses like Black Diamond that excel in their own areas of expertise.”
Alongside this news, Morningstar plans to retire Morningstar Office. The company has worked closely with Black Diamond to design a smooth transition with a highly customized migration process, saving users time and resources. Advisors who choose to transition to Black Diamond will continue to have access to the data and research they value from Morningstar. Additionally, Black Diamond users can leverage:
- A feature-rich and interactive Client Experience portal and mobile app, including optional firm branding for a tailored experience.
- Full business intelligence and reporting insights at the firm- and advisor-level
- A next-generation Rebalancer application with a suite of turnkey investment management services and tools
- Comprehensive, industry-leading compliance workflows
- Powerful, self-service data mining functionality
“We look forward to welcoming Morningstar Office clients to the Black Diamond Wealth Platform, where we believe they will benefit from our standard-setting portfolio management features alongside access to Morningstar’s newest research and analytics capabilities,” Leivent said.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment insights in
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements as that term is used in the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations about future events or future performance. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, and often contain words such as “ consider,” “future,” “maintain,” “may,” “expect,” “potential,” “anticipate,” “believe,” “continue,” “will,” "can, "or the negative thereof, and similar expressions. These statements involve known and unknown risks and uncertainties that may cause the events we discuss not to occur or to differ significantly from what we expect. For us, these risks and uncertainties include, among other things, failure to achieve the anticipated benefits of the strategic alliance, transition clients and retire the Office product on a timely basis, or at all. A more complete description of these risks and uncertainties can be found in our filings with the Securities and Exchange Commission (SEC), including our most recent Reports on Forms 10-K and 10-Q. If any of these risks and uncertainties materialize, our actual future results and other future events may vary significantly from what we expect. We do not undertake to update our forward-looking statements as a result of new information or future events or otherwise, except as may be required by law. You are, however, advised to review any further disclosures we make on related subjects, and about new or additional risks, uncertainties and assumptions in our filings with the SEC on Forms 10-K, 10-Q and 8-K.
©2025 Morningstar, Inc. All Rights Reserved.
MORN-P
View source version on businesswire.com: https://www.businesswire.com/news/home/20250212044367/en/
Morningstar Media Contact:
Stephanie Lerdall, +1 312 696-6037 or newsroom@morningstar.com
Sam Gentile, Prosek, +1 646 818-9195 or pro-SSC@prosek.com
Source: Morningstar, Inc.
FAQ
What are the key features of Morningstar's new Direct Advisory Suite integration with Black Diamond?
How many wealth management firms will have access to MORN's Direct Advisory Suite through Black Diamond?
What is happening to Morningstar Office following the Black Diamond partnership?
How many advisors currently use Morningstar's Advisor Workstation that's evolving into Direct Advisory Suite?
