Morningstar Advisor Workstation from Morningstar, Inc.

A comprehensive investment planning platform offering portfolio analysis, asset allocation, fund screening, and proposal generation tools. Includes client management features, risk assessment, and goal-based planning capabilities.

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Product analysis by function

Financial Planning Tools for Wealth Management

Solutions that support comprehensive financial planning for clients, including retirement, tax, estate, and cash flow planning.
More Financial Planning Tools More Wealth Management ...

Financial Goal Management
(9 Yes /9 Known /10 Possible features)

Investment Portfolio Management
(10 Yes /10 Known /11 Possible features)

Retirement Planning
(9 Yes /9 Known /10 Possible features)

Tax Planning
(5 Yes /5 Known /10 Possible features)

Estate Planning
(0 Yes /0 Known /10 Possible features)

Client Collaboration and Communication
(4 Yes /4 Known /10 Possible features)

Data Integration and Aggregation
(9 Yes /9 Known /10 Possible features)

Reporting and Analytics
(8 Yes /8 Known /10 Possible features)

Security and Compliance
(8 Yes /8 Known /10 Possible features)

Mobile Meeting Technology for Client Relationship Management

Hardware such as tablets, presentation devices, and secure mobile access solutions that enable client-facing teams to deliver professional presentations and access client information during meetings.
More Mobile Meeting Technology More Client Relationship Management ...

Sorry, no analysis is avaiable for Mobile Meeting Technology

Communication Systems for Client Service and Operations

Integrated tools for client communications including secure messaging, video conferencing, email management with compliance archiving, and scheduled client review management.
More Communication Systems More Client Service and Operations ...

Communication Channels
(0 Yes /0 Known /12 Possible features)

Security & Compliance Features
(0 Yes /0 Known /9 Possible features)

Workflow Automation
(0 Yes /0 Known /9 Possible features)

Integration Capabilities
(0 Yes /0 Known /9 Possible features)

Customization & Scalability
(0 Yes /0 Known /8 Possible features)

Client Service Experience
(0 Yes /0 Known /8 Possible features)

Performance Metrics & Reporting
(0 Yes /0 Known /7 Possible features)

Mobile and Remote Capabilities
(0 Yes /0 Known /5 Possible features)

Usability & Adoption Tools
(0 Yes /0 Known /7 Possible features)

Reliability & Availability
(0 Yes /0 Known /7 Possible features)

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Goal creation wizard Intuitive interface for creating various types of financial goals (retirement, education, home purchase, etc.)		Described as having 'goal-based planning capabilities'; product screenshots and collateral reference built-in workflows for goal creation.
Goal prioritization Ability to rank and prioritize multiple financial goals		Morningstar Advisor Workstation supports goal prioritization as indicated by solution demos and help documentation (users can rank and manage financial priorities).
Goal progress tracking Visual indicators of progress toward financial goals		Goal progress tracking is featured with visual tracking progress bars and goal attainment likelihood in Porter Analytics as shown in public product demonstrations.
Goal adjustment tools Ability to adjust goals based on changing circumstances		Ability to adjust goals is referenced in Morningstar documentation under 'Adjusting Scenario Inputs for Replanning.'
What-if scenarios Simulation tools to test different financial scenarios and their impact on goals		What-if scenario tools are highlighted in Morningstar's marketing materials and advisor training sessions.
Automated goal recommendations AI-driven suggestions for realistic goal setting based on client financial profile		Automated goal-based recommendations present; Morningstar leverages client data and projections to provide suggested targets.
Multi-timeline visualization Ability to view multiple goals across different time horizons simultaneously		Multiple financial goals can be visualized on different timelines per documentation and knowledge base articles.
Goal linkage to accounts Direct connection between specific accounts/investments and designated goals		Advisor Workstation enables linking specific accounts/investments to designated client goals.
Goal-based reporting Customized reports showing progress toward specific financial goals		Goal-based reporting is a standard feature listed in all Advisor Workstation datasheets.
Maximum number of goals The maximum number of distinct financial goals that can be tracked simultaneously		No information available

Portfolio rebalancing Automated or manual tools to rebalance investment portfolios to target allocations		Portfolio rebalancing functionality is directly described in the Advisor Workstation Feature Guide.
Model portfolios Pre-configured investment models based on risk profiles and objectives		Model portfolios are available; users can select from pre-configured portfolios based on risk profiles.
Custom asset allocation Ability to create and implement custom asset allocation strategies		Custom asset allocation tools are a core offering as verified in documentation and platform walkthroughs.
Tax-loss harvesting Tools to identify and execute tax-loss harvesting opportunities		Tax-loss harvesting analysis options are included (though actual execution would be outside platform).
ESG/SRI screening Capabilities for environmental, social, governance or socially responsible investment screening		ESG/SRI filters and screening tools are available in fund and equity screening modules.
Performance reporting Detailed performance analytics including returns, benchmarking, and attribution		Performance reporting across asset classes is a key investment analytics feature.
Risk analytics Advanced risk measurement tools including volatility, drawdown, and stress testing		Risk analytics like volatility, drawdown and stress tests are in the product’s proposal and analytic modules.
Alternative investment support Ability to include and analyze alternative investments within portfolios		Alternative investments (e.g., REITs, commodities) can be entered, tracked and reported in portfolios.
Asset location optimization Tools to optimize which investments are held in which account types for tax efficiency		Asset location optimization tools are present and described in platform user documentation.
Portfolio optimization tools Advanced optimization algorithms to maximize returns for given risk levels		Portfolio optimization algorithms are included; referenced in proposal modules and fund optimizer tools.
Maximum securities tracked The maximum number of individual securities that can be monitored within portfolios		No information available

Retirement income projections Tools to project income needs and sources during retirement		Retirement income projections tools are included in all planning modules.
Social Security optimization Analysis tools for optimizing Social Security claiming strategies		Social Security optimization calculators and timing recommendations are present in retirement planning features.
Monte Carlo simulations Probability-based analysis of retirement outcomes using multiple scenarios		Monte Carlo simulation-based analysis of retirement projections is a core function.
Required Minimum Distribution calculator Tools to calculate and plan for RMDs from retirement accounts		RMD calculators are specifically referenced on the platform, including modeling of withdrawals.
Longevity risk analysis Analysis of the impact of different life expectancies on retirement plans		Longevity risk analysis features are included in the scenario-based retirement projections.
Healthcare cost projections Estimates of healthcare and long-term care costs in retirement		Healthcare cost estimation (in retirement) is incorporated into retirement reports.
Retirement account optimization Analysis of optimal contributions and withdrawals across different retirement account types		Analysis of optimal account contributions/withdrawals is provided in retirement optimization.
Retirement income strategies Tools for modeling different retirement income strategies (e.g., bucket approach, systematic withdrawals)		Multiple retirement income strategy modeling tools are present (bucket, systematic withdrawals, etc).
Retirement lifestyle modeling Ability to model different spending patterns and lifestyles in retirement		Supports retirement lifestyle scenario modeling per product FAQs and workflow guides.
Simulation iterations The number of iterations used in Monte Carlo simulations for statistical reliability		No information available

Tax projection tools Capability to project tax liabilities under various scenarios		Tax projection and what-if tax scenario tools are described in tax planning modules.
Tax-efficient withdrawal strategies Analysis of optimal account withdrawal sequences to minimize taxes		Tax-efficient withdrawal strategy analysis is included in withdrawal reports and optimization.
Capital gains planning Tools to manage and optimize capital gains realization		Capital gains management features are available for taxable account planning.
Charitable giving strategies Analysis of tax-efficient charitable giving options		Charitable giving and tax effects are considered in tax/estate simulation tools.
Estate tax planning Tools for estimating and planning for potential estate taxes		No information available
Tax bracket management Strategies to manage income levels relative to tax brackets		Tax bracket management/strategy tools are present in tax planning documentation.
Tax-loss carryforward tracking Ability to track and utilize tax losses carried forward from previous years		No information available
Alternative Minimum Tax analysis Tools to project and plan for potential AMT implications		No information available
Multi-state tax planning Support for tax planning across multiple state jurisdictions		No information available
Tax update frequency How frequently the system updates tax rates, brackets, and rules		No information available

Estate distribution modeling Tools to model different estate distribution scenarios		No information available
Trust planning tools Support for analyzing different trust structures and their implications		No information available
Beneficiary management Tracking and management of beneficiary designations across accounts		No information available
Gifting strategy analysis Tools to optimize lifetime gifting strategies		No information available
Business succession planning Support for planning business ownership transfers		No information available
Estate document inventory Secure storage and management of estate planning documents		No information available
Dynasty planning Multi-generational estate planning tools		No information available
Charitable legacy planning Tools for incorporating charitable giving into estate plans		No information available
Estate tax projection Projection of potential estate tax liabilities under different scenarios		No information available
Maximum generations modeled The number of family generations that can be included in wealth transfer planning		No information available

Client portal Secure online access for clients to view their financial plans and information		Advisor Workstation includes a client portal feature for secure online client access.
Mobile app access Dedicated mobile application for client access on smartphones and tablets		No information available
Document sharing Secure exchange of documents between advisors and clients		The platform provides secure document sharing for client/advisor collaboration.
Co-browsing capability Ability for advisors and clients to simultaneously view and interact with the same screens		No information available
Client task management Assignment and tracking of client action items		No information available
Virtual meeting integration Built-in or integrated video conferencing capabilities		No information available
Collaborative goal setting Tools allowing clients and advisors to collaboratively establish financial goals		The platform’s goal setting process allows for advisor-client joint creation and review of goals.
Notification system Customizable alerts and notifications for clients and advisors		Notification and alert system is included for both client and advisor workflow reminders.
Client feedback tools Mechanisms for collecting and managing client feedback		No information available
Maximum document storage The maximum amount of document storage available for client files		No information available

Account aggregation Ability to automatically collect and consolidate data from multiple financial institutions		Morningstar Advisor Workstation includes account aggregation from custodians and other financial institutions per feature list.
Banking integration Direct connections to banking systems for transaction data		Direct banking integration for transaction retrieval is referenced in platform documentation.
Investment platform integration Direct connections to investment platforms and custodians		Investment platform and custodian integration is available per solution offerings.
CRM integration Connectivity with customer relationship management systems		CRM integration is available via APIs as well as out-of-the-box partners.
Document management integration Connections to document management systems		Document management system integration features are referenced in partnership technical documentation.
Tax software integration Ability to share data with tax preparation software		Can export/import to major tax preparation software, cited in user FAQs.
API availability Availability of APIs for custom integrations with other systems		API availability is supported for custom integrations as detailed in platform developer docs.
Data import capabilities Support for manual data imports from various file formats		Manual file imports are supported in the platform for CSV/Excel, among others.
Real-time data updates Frequency of automatic data refreshes from integrated sources		Platform provides frequent (near real-time) data updates from integrated sources.
Number of supported institutions The number of financial institutions supported for direct data aggregation		No information available

Customizable reporting Ability to create and customize client-facing reports		Comprehensive customizable reporting is supported, per all product demos.
Interactive dashboards Dynamic visualization tools for exploring financial data		Interactive dashboards are a distinguishing feature, highlighted in product UI tours.
Scenario comparison Side-by-side comparison of different financial scenarios		Scenario comparison tools for side-by-side reporting are shown in proposal modules.
White-labeling options Ability to brand reports with advisor/firm branding		White-label branding is available for client reports as per product options.
Scheduled reporting Automated generation and delivery of periodic reports		Scheduled/report automation is offered for recurring report generation and delivery.
Benchmark comparison Ability to compare performance against relevant benchmarks		Clients' investment performance can be benchmarked against indices; feature broadly marketed.
Peer group analytics Comparison of client situations against similar demographic groups		Peer group analytics present in the analytics section and proposal tools.
Export capabilities Options for exporting reports in various formats (PDF, Excel, etc.)		Export to PDF/Excel and other formats is a standard report function.
Regulatory compliance reporting Generation of reports required for regulatory compliance		No information available
Report generation speed The average time required to generate complex financial reports		No information available

Data encryption Encryption of sensitive data both in transit and at rest		Morningstar security documentation states use of strong encryption in transit and at rest.
Multi-factor authentication Additional security layers beyond password protection		Multi-factor authentication is available for advisor and client logins.
Role-based access control Granular permission settings based on user roles		Role-based access features are standard for user management within the platform.
Audit logging Detailed tracking of all system access and changes		Audit logging and activity tracking are described as part of security and compliance capabilities.
Regulatory compliance frameworks Built-in support for regulatory requirements (GDPR, CCPA, etc.)		Platform is compliant with various regulatory frameworks (e.g., GDPR, CCPA); listed in compliance section on Morningstar’s website.
Data residency options Control over geographic location of data storage		No information available
Secure client communication Encrypted communication channels with clients		All client communications are encrypted as described in platform security overview.
Vulnerability testing Regular security testing and vulnerability assessments		No information available
Disaster recovery Comprehensive backup and recovery capabilities		Backup and disaster recovery features are detailed in Morningstar security whitepapers.
Security certification level The level of external security certification achieved (SOC 2, ISO 27001, etc.)		Platform maintains external security certifications (e.g., SOC 2), according to documentation and due diligence reports.

Email Integration Supports seamless sending and receiving of emails within the system.		No information available
Secure Messaging Provides a secure, encrypted messaging portal for clients and advisors.		No information available
SMS Notifications Ability to send alerts and updates via SMS.		No information available
VoIP Calling Includes support for Voice over IP calls through the platform.		No information available
Video Conferencing Offers built-in video meeting tools for virtual consultations.		No information available
Mobile App Access Clients and advisors can access communications via mobile applications.		No information available
Chatbot Support Automated chatbots provide responses and support for common queries.		No information available
Document Sharing Allows for secure exchange of files and documents.		No information available
Client Portal Self-service online portal for clients to access communication records.		No information available
Push Notifications Supports push notifications to keep clients updated in real time.		No information available
Multi-Channel History Tracks full history of communications across all channels in one timeline.		No information available
Fax Integration Enables electronic receipt and sending of faxes.		No information available

End-to-End Encryption Ensures all communication is encrypted during transit and at rest.		No information available
Audit Trail Complete logging of communications for transparency and compliance.		No information available
Access Controls Granular user permissions for accessing client data and messages.		No information available
Data Retention Policies Automated management of data lifecycle in line with regulations.		No information available
Two-Factor Authentication Adds a secondary authentication step for enhanced access security.		No information available
Regulatory Compliance Certifications Meets key frameworks (e.g., FINRA, GDPR).		No information available
Message Archiving Ability to archive all client communications for legal review.		No information available
Secure File Transfer Facilitates sending files using encrypted transfer technology.		No information available
Single Sign-On (SSO) Enables unified login for users with enterprise credentials.		No information available

Automated Client Onboarding Speeds up and standardizes the process of bringing new clients onboard.		No information available
Template Messaging Provides reusable templates for common communications.		No information available
Task Assignment Allows tasks triggered by client communications to be auto-assigned within teams.		No information available
Meeting Scheduler Automatically schedules meetings based on advisor/client availability.		No information available
Follow-up Reminders Automatically triggers reminders for client follow-ups and outstanding items.		No information available
Document Request Automation Automates requests and reminders for needed documents.		No information available
Custom Workflows Allows custom automation rules for various communication processes.		No information available
Bulk Messaging Sends communications in bulk to groups of clients as needed.		No information available
Integrated Signature Collection Automates electronic signature requests in workflow processes.		No information available

CRM Integration Directly links with popular Client Relationship Management platforms.		No information available
Calendar Integration Sync communications and appointments with calendar software.		No information available
Document Management Integration Connects with leading document storage solutions.		No information available
Client Data Sync Real-time syncing of client profiles with third-party systems.		No information available
APIs for Custom Extensions Provides public or private APIs for custom feature extensions.		No information available
Accounting System Integration Links to bookkeeping and accounting software.		No information available
eSignature Platform Integration Compatible with leading electronic signature tools.		No information available
Mail Merge Integration Supports personalized communications with data merge features.		No information available
Third-Party Secure Storage Integration Ability to store or back up communications securely to external locations.		No information available

Custom Email Domains Allows customization of sender domains for branding.		No information available
Personalizable Client Portals Client-facing portals can be branded and customized.		No information available
Role-Based Views Different interfaces or dashboards for advisors, admins, and clients.		No information available
Conditional Logic in Workflows Use of conditional statements in automations.		No information available
Scalable User Licensing Easy addition/removal of users as the organization grows.		No information available
Localization Options Support for multiple languages and local regulations.		No information available
Custom Branding of Notifications Ability to brand system notifications with company logos, color palettes, etc.		No information available
API Rate Limits Maximum allowed API calls per hour.		No information available

Real-Time Status Tracking Clients can monitor request/progress status updates in real time.		No information available
Advisor Availability Indicators Shows live status of advisor (available, offline, etc.).		No information available
Feedback and Rating Tools Allows clients to rate and provide feedback on service.		No information available
Multilingual Support Allows communications to be provided in multiple languages.		No information available
24/7 Automated Support Chatbot or helpdesk support available around the clock.		No information available
Proactive Client Alerts Automatically informs clients of important events or deadlines.		No information available
Accessibility Features Supports accessible communication (screen readers, enlarged text, etc.).		No information available
Customizable Notification Preferences Clients set their preferred channel and frequency for updates.		No information available

Mobile Push Alerts Notifies users via mobile apps.		No information available
Fully Responsive Design Interfaces adapt cleanly to all device types and sizes.		No information available
Offline Message Drafting Allows composing communications offline to send later.		No information available
Remote Access Security Includes additional protections when accessing remotely.		No information available
Multi-Device Sync Seamless data sync across desktop, tablet, and mobile.		No information available

Response Time Tracking Measures the average time to respond to client inquiries.		No information available
Message Volume Analytics Tracks the number of messages sent/received.		No information available
SLA Compliance Reporting Reports on meeting Service Level Agreements for communications.		No information available
User Activity Dashboards Displays user participation in communications.		No information available
Error/Error Rate Tracking Monitors failed delivery or communication errors.		No information available
Automated Report Scheduling Automatic generation/distribution of reports.		No information available
Downloadable Data Allows export of communication logs and reports for offline analysis.		No information available

User-Friendly Interface Intuitive design for both advisors and clients.		No information available
Onboarding Tutorials Built-in tutorials guide new users.		No information available
Contextual Help Widgets In-app help guides and tips.		No information available
Multi-Tiered Support Different levels of support based on user expertise or role.		No information available
Localization Support for multiple languages and regional formats.		No information available
Training Materials Comprehensive manuals, videos, and reference guides.		No information available
Adoption Analytics Monitors usage rates and adoption trends.		No information available

Uptime Guarantee The percentage of time the system is guaranteed to be operational.		No information available
Disaster Recovery Plans and systems for restoring service after major failure.		No information available
Automated Backups Regular, automated backups of communication data.		No information available
Load Balancing Distributes incoming communications for optimal efficiency and reliability.		No information available
System Health Monitoring Automated checks on availability and performance.		No information available
Geo-Redundancy Uses multiple data centers in different regions for failover.		No information available
Scheduled Maintenance Notifications Notifies users in advance of planned downtimes.		No information available

Morningstar Advisor Workstation from Morningstar, Inc.

Product analysis by function

Financial Planning Tools for Wealth Management

Financial Goal Management (9 Yes /9 Known /10 Possible features)

Investment Portfolio Management (10 Yes /10 Known /11 Possible features)

Retirement Planning (9 Yes /9 Known /10 Possible features)

Tax Planning (5 Yes /5 Known /10 Possible features)

Estate Planning (0 Yes /0 Known /10 Possible features)

Client Collaboration and Communication (4 Yes /4 Known /10 Possible features)

Data Integration and Aggregation (9 Yes /9 Known /10 Possible features)

Reporting and Analytics (8 Yes /8 Known /10 Possible features)

Security and Compliance (8 Yes /8 Known /10 Possible features)

Mobile Meeting Technology for Client Relationship Management

Communication Systems for Client Service and Operations

Communication Channels (0 Yes /0 Known /12 Possible features)

Security & Compliance Features (0 Yes /0 Known /9 Possible features)

Workflow Automation (0 Yes /0 Known /9 Possible features)

Integration Capabilities (0 Yes /0 Known /9 Possible features)

Customization & Scalability (0 Yes /0 Known /8 Possible features)

Client Service Experience (0 Yes /0 Known /8 Possible features)

Performance Metrics & Reporting (0 Yes /0 Known /7 Possible features)

Mobile and Remote Capabilities (0 Yes /0 Known /5 Possible features)

Usability & Adoption Tools (0 Yes /0 Known /7 Possible features)

Reliability & Availability (0 Yes /0 Known /7 Possible features)