Morningstar Advisor Workstation

Morningstar Advisor Workstation
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Managing an advisor practice is rarely, if ever, a straightforward process. On a daily basis you handle multiple
tasks—investment research, portfolio analysis, and investment planning. All while serving existing clients with
ongoing updates and prospecting for new ones.
For all of the tasks you perform and roles you play, Advisor
Workstation can help you do them better. It’s a Web-based
platform, so you’ll always have the latest Morningstar
investment data, and the most up-to-date client and account
information at your fingertips. And its intuitive design and
navigation will streamline your daily work.
Advisor Workstation
Clients
& Portfolios
Defined
Contribution
Hypotheticals
Planning
Research
Real-Time
Analyst
Research
Center
The latest data for all of Morningstar’s investment universes feeds directly into
Advisor Workstation’s modules to power its analytical, research, market monitoring,
reporting, and communication capabilities.
Advisor Workstation’s modular structure allows clients to configure it to best meet their specific needs. This brochure provides an overview of all of Advisor Workstation’s capabilities—some features may not be licensed by all clients.
Best of all, Advisor Workstation helps you get results.
Its concise, visually-compelling reports will strengthen your
message to clients and make the most convincing case
for your recommendations.
Advisor Workstation Home Page
Get to Work Quickly
Launch your most frequentlyused tools and reports from
the Quick Start menu with
just one click.
Stay On Top of Your Practice
Access a favorites list of the
top securities in your practice
(or any other list you designate)
to quickly view performance
numbers.
The Market at a Glance
Watch the Morningstar Market
Barometer for the latest daily
and historical style-based performance trends.
Fast File Sharing
If you work collaboratively
with other advisors or support
staff in your practice, Advisor
Workstation makes it easy
to share client files, searches,
lists, and hypotheticals with
the entire client team.
Analyst Alerts
Keep up to date on the securities used in your practice.
The latest Morningstar analyst
updates for stocks, mutual
funds, and ETFs appear directly
on the home page.
The Latest Product News
See all the feature updates
in Advisor Workstation. Product
announcements and new enhancements are all highlighted.
Advisor Workstation helps you stay on top of your entire book of business. Its
intuitive design gives you quick access to the tools, files, and securities you
use most frequently. And whether you work independently or collaborate with
others in your practice, Advisor Workstation will enable you to work smarter
and more efficiently.
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Clients & Portfolios Module
It’s your entire practice—arranged
for efficient and proactive management. The Clients & Portfolios
Module gives you the tools to
quickly build, analyze, and monitor your clients’ portfolios.
The Clients & Portfolios Module features Morningstar’s unmatched capabilities for conducting in-depth portfolio analysis and lets you easily share
your insight with clients using FINRA-reviewed reports. The Portfolio Snapshot Report provides a detailed overview of a portfolio’s most important
aspects, including asset allocation, investment style, sector weightings,
and performance. Another popular report, Stock Intersection , identifies the
portfolio’s overall weighting in a particular security or sector.
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You’ll save significant time and effort by directly importing client holdings
from the most popular advisor platforms (see page 18). Advisor Workstation also helps you work collaboratively with your colleagues via file sharing
capabilities that allow you to set permission controls for viewing and editing clients, portfolios, hypothetical illustrations, searches, and lists. And a
wide range of customizable alerts can be set for individual securities, clients,
or your entire practice. They make it easy to keep up-to-date on changes in
ratings, style drift, performance, and fund management.
The Clients & Portfolios Module makes staying top of your practice—and
your daily tasks—a much more manageable process.
The Portfolio View allows you to quickly assess the overall asset allocation, regional exposure, annualized returns, risk, and sector exposure of the portfolio. All
analysis is based on the latest portfolio holdings in the Morningstar database.
When discussing portfolio strategies, the FINRA-reviewed Portfolio Snapshot Report is an unmatched resource for explaining diversification and risk. Based on
the underlying holdings of every investment product in the portfolio, it reveals the composition, investment style, and sector exposure of the entire portfolio.
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Research Module
Advisor Workstation offers
the broadest and deepest
investment coverage in the
industry, along with the most
powerful tools available for
analyzing that information
and presenting your results to
clients and prospects.
The Research Module provides fundamental and proprietary data for
multiple investment universes, as well as hundreds of market indexes and
Morningstar categories. Yet what’s more impressive than the depth and
quality of the data is the myriad ways you can use it. Search across all of
Morningstar’s universes for securities that meet specific investment criteria
that you set. After conducting your research, you can save the Boolean
logic for future use, create a list of the results, or launch Security Report
Builder to quickly generate a packet of research materials that can include
Investment Detail Reports, comprehensive graphs, price and distribution
information, and the latest underlying holdings.
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The FINRA-reviewed research reports you create in the Research Module
are based on Morningstar’s 25-year history of distilling the most essential
information about a security into an easy-to-understand format. With
rich report options, it’s easy to create powerful communication materials
based on the specific needs of your clients.
The Research Module lets you take full advantage of Morningstar’s approach
to investment research and easily share your results.
Advisor Workstation’s intuitive navigation structure will help you work more efficiently, making it easy to search and screen securities, create lists, and generate
reports and graphs. Data from the Research Module can also be exported to Microsoft Excel® and other spreadsheet programs.
The FINRA-reviewed Investment Detail Report provides the performance, composition, fee and expense, and risk information necessary to lead an intelligent
discussion about adding or removing a specific investment from a client’s portfolio.
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Planning Module
Advisor Workstation’s Planning
Module helps you build solid,
diversified portfolios that are
appropriate for your clients
by assessing their true risk
tolerance and identifying their
investment goals.
Use the Planning Module’s risk questionnaire to conduct meaningful risk
assessments and create accurate risk profiles. Then create a plan based on
multiple investment goals and select a strategy and asset allocation along
an efficient frontier curve. You can create wealth forecasts and illustrate
the probability of success using sophisticated Monte Carlo simulations powered by the industry-renowned Ibbotson capital market assumptions.
Once the ideal allocation has been determined, build a portfolio to recommend
specific securities for a client. Finish the process with an in-depth Investment
Policy Statement or a convincing Portfolio Comparison Report.
With the Planning Module, you’ll have the tools to show clients how different
strategies might succeed, and why your recommendations will get them
closer to their goals.
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The efficient frontier curve helps you select the optimal asset allocations for your clients, with the maximum expected return for any level of risk. You can specify
the expected return and volatility of each asset class, as well as the correlation of the asset classes with each other, or opt for Morningstar’s settings.
The FINRA-reviewed Portfolio Comparison Report is an ideal way to contrast the differences between portfolios. It breaks down asset mixes, investment styles,
and overall stock sector exposure, making it an effective tool for conveying how a proposed portfolio is more appropriate than the current one.
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Hypotheticals Module
Grow your business by making the best possible case for
your recommendations with
persuasive sales illustrations.
Trailing or annualized return numbers may reveal how a single lump-sum
investment performed over time, but they don’t necessarily reflect what
investors actually experience. The Hypotheticals Module allows you to create
vivid, real-world examples of the performance of a security by itself, in
comparison with another security, or within the context of an overall portfolio,
for any of the securities in Advisor Workstation.
The Hypothetical Illustration incorporates ongoing investments, withdrawals,
reinvestment of dividends, taxes, investment fees (reflecting real breakpoints),
and other charges to better illustrate the actual investor experience. Our
hypothetical reports are the only ones in the industry to incorporate underlying
holdings to show performance with relevant asset allocation, sector weightings, and style diversification information. Best of all, you can produce illustrations quickly with an intuitive wizard. All reports are generated as PDFs for
easy printing and sharing.
The Hypotheticals Module helps you turn complicated investment information
into clear, actionable insight. There’s simply no better way to make the case for
how your recommendations would have affected a client’s wealth.
After you choose one or more securities, the Reports Options tab lets you generate illustrations with the specific graphs and reports you want to share with your
clients. You can create reports for individual securities, comparison reports that contrast the performance of two or more securities, and portfolio reports.
The FINRA-reviewed Hypothetical Portfolio Illustration reveals how a portfolio would have performed in the past. You can specify the investment schedule, withdrawals, reinvestment of distributions, tax rates, and fees to present the most accurate real-world portrayal of portfolio performance.
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Defined Contribution Module
A solid retirement plan needs
more than strong individual
funds—it requires a combination
of investment offerings that
work well together. The Defined
Contribution Module helps you
ensure that a plan will allow
its participants to create appropriate, diversified portfolios.
The Defined Contribution Module makes it easy to construct, evaluate,
and monitor 401(k), 403(b), and other defined contribution plans. You can
quickly determine the strength of current and proposed lineups, making
sure a plan is consistent with the plan sponsor’s investment policy statement
and offers appropriate investment choices. It provides the tools to document
every step of the due diligence process and to stay on top of your fiduciary
responsibilities.
11
The Plan Status Report is ideal for presenting the details of a proposed plan,
ongoing plan monitoring, and providing periodic updates. The side-by-side
evaluations of performance and investment style in the Plan Comparison Report
can help you make a persuasive case for your recommendations to modify
a plan lineup. And an advanced alerts capability will keep you up-to-date on
material changes in fund management, performance, and investment style.
The Defined Contribution Module provides a powerful set of diagnostic
and communication tools, making it an essential resource for working with
retirement plans.
11 0
11
Rockland Retirement Plan Lineup
The FINRA-reviewed Plan Status Report makes it easy to monitor changes, including style drift, in all of the offerings in a retirement plan. The robust alerts functionality keeps you informed of changes in performance, fund management, investment style, and risk measures.
The FINRA-reviewed Plan Comparison Report provides an at-a-glance contrast of a proposed plan lineup and the current plan. It can reveal differences in diversification and performance of the plan offerings relative to their category peers.
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Real-Time Module
There’s no better way to keep
a close eye on the market
than Advisor Workstation’s
Real-Time Module. It presents
the latest live market data
in an intuitive, flexible format.
If you require accurate and timely market data to make investment and
trading decisions, the Real-Time Module is an ideal market-monitoring tool.
Powered by Morningstar QuoteSpeed , it provides quote data with Level II
market depth in an interactive interface. It features intraday and historical
price and volume charting with candlesticks, OHLC bars, and moving averages
and other technical indicators, along with news and analyst updates from
Morningstar and other providers. Also included are option chains with flexible
display configurations and dynamic inputs.
TM
Coverage is broad and detailed, with data from more than 160 domestic
and international sources, including all major equity exchanges and indexes,
as well as foreign exchange and currency markets. Functionality includes overlapping and resizable windows, multiple workspaces, right-click menus, and
drag and drop configurability.
The Real-Time Module is an incredibly effective way to track and monitor
securities and portfolios throughout the day.
The Security Research window gives you quick access to all of the key information about a security, with the ability to dig deeper within each section. Live
security news includes Morningstar news and analyst updates, company filings and press releases, and news from other providers.
A completely flexible layout allows you to configure your view with charts, watchlists, news, and more, with the ability to move the windows within the workspace. “In the money” options are highlighted in blue and technical charts overlay indexes or securities and event information.
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Analyst Research Center
With rich insight from Morningstar’s staff of 100+ investment
analysts, Advisor Workstation
can serve as the primary source
for research in your practice.
The Analyst Research Center delivers Morningstar’s independent perspective,
consistent methodology, and actionable insight for 1,800 stocks, 2,000 funds,
and 300 ETFs. Here you can review Morningstar analyst reports to assess
what a company is really worth. Watch analyst videos, consult Morning Notes
with daily insights, view data pages with key financial and historical information, and read the latest updates for Morningstar’s market-beating Tortoise and
Hare portfolios. Morningstar’s equity research inspires actionable investing
ideas—stocks rated highly by Morningstar analysts have consistently outperformed the broader market over the long term.
Mutual fund research includes comprehensive analyst reports along with
Fund Favorites and Red Flags articles that highlight offerings favored by
Morningstar analysts and funds to avoid. A screener helps you find the right
funds for a given investment objective and contains pre-built Morningstar
screens to identify Portfolio Anchors, After-Tax Stars, Hidden Gems, Great Bond
Funds, and more. And Advisor Workstation’s ETF reports address suitability,
fundamentals, portfolio construction, and fees.
The Analyst Research Center is the easiest way to see to the independent
research of Morningstar’s analyst teams—and to access exclusive content
available only to advisors.
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The Analyst Research Center serves as a launching pad for Morningstar analyst insight. The video library features the analyst team’s views on a wide variety of
investment topics, and the current and archived analyses for all of the securities tracked by the analyst team are also available here.
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Analyst insight is also available via PDF versions of the classic “Morningstar page,” providing a rich, single-page summary of the most important information
about a mutual fund, stock, or exchange-traded fund.
18
Training and Support
Integration Capabilities
Advisor Workstation is designed to be
intuitive and easy to use. But when you have
questions, the answers aren’t hard to find.
The Virtual Training Center, Advisor Workstation’s built-in training portal, allows you to
view how-to videos, download training manuals,
access help topics, and register for live Webbased classes hosted by Morningstar experts.
The variety of training options supports different
learning styles and skill levels.
Managing client data can be a major time
drain on your practice. And the time spent on
manual data input is time that could be
better spent elsewhere.
Morningstar also supports Advisor Workstation
with trained, in-house product consultants,
not an outsourced call center. Help is available
via phone and e-mail six days a week.
Advisor Workstation features data integration
capabilities that eliminate cumbersome
client and portfolio data entry. The back-end
integration is seamless and you’ll only need
to enter a client’s name or account number
to easily import relevant holding information,
including securities and shares. Advisor
Workstation offers integration with the most
popular advisor platforms, including:
Albridge Solutions
TM
Security
EISI’s Profiles Professional
Use Advisor Workstation with confidence,
knowing that your client data is safe
and secure. Morningstar servers use the
128-bit Security Sockets Layer (SSL) protocol,
the encryption standard employed by most
banks and credit card companies for transmission of data over the Internet.
MoneyGuidePro
All the data and information you save within
Advisor Workstation is backed up daily,
on servers in multiple locations. The servers
are clustered, so if one should ever go out,
you won’t experience a disturbance.
TM
eMoney Advisor
TM
National Financial’s Streetscape
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