Morningstar is well known to many advisors as that research company in Chicago that rates the mutual funds, but it's also collected a substantial technology platform over the years . . . becoming one of the industry's stealthiest TAMPs in the process.
You're familiar enough with the overall brand to name Morningstar Investment Management top TAMP of the year. But what's under the hood? We talked to Daniel Needham, who runs the program, about what he's all about and where the platform is headed.
"Our focus really is to deliver time back to advisors, so that they can give advice to their clients and ultimately empower investor success," he explains, indicating his core alignment with the TAMP proposition.
Once again, this is not a way to complicate your life with additional relationships to manage and additional headaches on your desktop. The goal is to simplify life, free up attention for other things.
Naturally, that starts with the investments, where the firm already provides the four-star standard of analysis.
"Morningstar has some of the best data, the best research, the best insights, and we're able to serve that up for all the advisors that we work with," Needham explains.
Then there's the technology.
"It's an end-to-end solution. We cover everything. We have our own aggregation business with ByAllAccounts, as you mentioned. And so that sits at the backend. We have Office, really is the portfolio accounting engine. And we do reporting, Morningstar is a leading provider of reports. Asset managers and other financial institutions come to us to be able to receive our reporting services. And so we're able to leverage that. And so, really it's just packed full of everything that an advisor needs to run the practice. From digital account opening all the way through to client portal that provides up-to-date information to their clients."
For more, just let the video play or check out Morningstar Investment Management's profile on our TAMP Digital Dashboard.
