Morningstar Inc. announced Wednesday a new tool in its Morningstar Office portfolio management and reporting application that allows advisor users of Office to create custom or templated reports for individual clients or across an advisor’s entire client base.
Report Studio is a tool that, through a drag-and-drop interface, gives advisors the capability, the Chicago-based company said in a news release, to “build new reports from scratch or to edit one of Morningstar’s pre-designed templates,” using Morningstar data to “highlight performance, risk, return, investment style and other important concepts” on their clients’ reports. The reports can be customized using the advisory’s firm’s logo and images and copy that are also unique to the firm, saving the final reports as PDFs or PowerPoint files.
The company said that since its launch in 2006, Morningstar Office now has more than 2,000 customers, which Morningstar said places the application among the three largest portfolio management solutions in the RIA market.
Fidelity announced Sept. 23 that it was incorporating another portfolio management and reporting system, Black Diamond, into its WealthCentral RIA platform. WealthCentral already includes Advent Software’s portfolio management system.