Integrated Platform Enables Efficient Financial Planning

An integrated platform supports advisers with a communication tool, providing them with more free time to work with clients.

Finance Logix announces an agreement with Morningstar Inc. that integrates products from both companies, eliminating the need for advisers to manually import data in order to show clients their current financial situation and their progress toward goals.

The deal incorporates the Finance Logix platform, a customized, end-to-end financial planning and client management solution, with Morningstar OfficeSM, a research and practice management system for financial advisers. Through the integrated product, the companies’ mutual clients can access current client and account information to facilitate the financial planning process.

Driven by innovative Web services, the integration sends up-to-date account data seamlessly to advisers, explains Tricia Rothschild, global head of adviser solutions at Morningstar. “It also supports our goal of helping advisers make their practices more efficient by connecting Morningstar products with leading third-party applications.”

The service includes data fields from Morningstar OfficeSM, such as market values, cost basis, holdings and accounts. While clients sleep, the system is at work, automatically updating the fields each night within Finance Logix. Advisers, and clients wake to a complete financial plan at their fingertips.

“One of the underlying objectives of the Finance Logix platform is to make advisers’ lives easier and to provide them with a more powerful communication tool,” says Oleg Tishkevich, CEO, Finance Logix. Additionally, because manual data entry is reduced, results include fewer errors and more efficient workflows, the companies say.

Finance Logix is a provider of financial planning and client engagement solutions. Morningstar Inc. is a provider of independent investment research. Their integrated product is now live, available to clients.