Morningstar Launches Portal for Advisers

The mobile-ready portal includes customized reports of investors’ accounts and provides a more holistic view of their financial situations.
Morningstar Inc. has launched ByAllAccounts, a personal financial management portal in the firm’s account aggregation service.

The mobile-friendly portal pulls together all of an investor’s account information and updates advisers daily to provide them with a more intuitive system for showing clients their entire balance sheets. ByAllAccounts recently tripled the number of data sources it aggregates to 15,000, including liabilities such as loans and credit card debt, to fully understand an individual’s net worth.

ByAllAccounts includes a drag-and-drop feature that looks at an investor’s total wealth, balance sheet, cash flows and asset allocation. It includes customized report generation, a document vault, and alerts that tell investors if their asset allocation is no longer in balance, funds are transferred out of an account, or a deposit is made to an account. Advisers can also customize branding of the portal and use it to analyze their entire book of business. They can also choose any of these elements as stand-alone tools.

“Morningstar has the most comprehensive data in the industry, and our new portal helps advisers, their home offices and their clients visualize that data together in a more meaningful way,” says Tricia Rothschild, head of adviser solutions for Morningstar. “Investors want to work with financial advisers who have a more holistic, or complete, view of their financial situation. Our new personal financial management portal helps advisers free up time previously spent gathering data from disparate sources, allowing them to spend that time more constructively consulting and solving problems for clients.”