Morningstar Inc. is integrating Redtail Technology’s customer relationship management (CRM) capabilities into Morningstar Office, its portfolio and practice management system for financial advisers.
The integration further expands Morningstar’s relationship with Redtail. In 2014, the companies worked together to provide access to Morningstar’s proprietary research and analytics within the Redtail CRM user interface.
“Now, advisers can transfer data between firms to reduce redundant entry and provide up-to-date client and account data within the Redtail CRM interface,” the firms explain. “Redtail will become an integral part of Morningstar Office, along with account aggregation, back-office services, and rebalancing capabilities.”
Jeff Schwantz, Morningstar’s head of adviser and wealth management solutions, North America, says that incorporating Redtail CRM as a core functionality in Morningstar Office shows the firm is embracing an “open technology ecosystem” to improve the daily management of advisers’ practices.
In addition to account aggregation, back-office services, and rebalancing capabilities, Morningstar Office includes portfolio management and performance reporting, advanced research functionality, sophisticated investment planning, and secure client communication. Redtail CRM solutions include automated workflows, an intuitive user interface, and paperless office and email archiving.