Investment research company Morningstar has introduced a new investment analysis platform, called Morningstar Direct for Wealth Management, for wealth management professionals.
The new platform extends investment coverage through Morningstar independent data and research.
Based on a cloud-based infrastructure, it also enables cross-team collaboration, portfolio analytics and research as well as provides information required to develop and refine product offerings.
Morningstar chief product officer Tricia Rothschild said: “Manager research teams are facing increasing scrutiny around due diligence and the manager selection process to prove they are aligned to their clients’ needs.
“By streamlining communication through one platform, manager researchers, due diligence teams, and portfolio strategists can collaborate and connect with client-facing advisors in real time in order to share critical updates across firm locations.
“This new edition of Morningstar Direct Cloud showcases a new workflow for wealth management users and our ongoing investment in proprietary data and research.”
The new platform is expected to address key challenges faced by the professionals in the wealth management sector including organisational alignment, different technology solutions and regulatory environment changes.
It is equipped with new data points such as active share and environmental, social, and governance (ESG) data, risk model analytics, custom data integration and scenario analysis.
It also features custom scorecards and team notifications to inform on respective investments as well as carry out client account analysis configuration.