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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.
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.
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Financial Goal Management
(9 Yes /9 Known /10 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. | |
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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). | |
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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. | |
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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.' | |
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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. | |
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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. | |
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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. | |
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Goal linkage to accounts Direct connection between specific accounts/investments and designated goals |
Advisor Workstation enables linking specific accounts/investments to designated client goals. | |
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Goal-based reporting Customized reports showing progress toward specific financial goals |
Goal-based reporting is a standard feature listed in all Advisor Workstation datasheets. | |
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Maximum number of goals The maximum number of distinct financial goals that can be tracked simultaneously |
No information available |
Investment Portfolio Management
(10 Yes /10 Known /11 Possible features)
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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. | |
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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. | |
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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. | |
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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). | |
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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. | |
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Performance reporting Detailed performance analytics including returns, benchmarking, and attribution |
Performance reporting across asset classes is a key investment analytics feature. | |
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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. | |
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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. | |
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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. | |
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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. | |
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Maximum securities tracked The maximum number of individual securities that can be monitored within portfolios |
No information available |
Retirement Planning
(9 Yes /9 Known /10 Possible features)
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Retirement income projections Tools to project income needs and sources during retirement |
Retirement income projections tools are included in all planning modules. | |
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Social Security optimization Analysis tools for optimizing Social Security claiming strategies |
Social Security optimization calculators and timing recommendations are present in retirement planning features. | |
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Monte Carlo simulations Probability-based analysis of retirement outcomes using multiple scenarios |
Monte Carlo simulation-based analysis of retirement projections is a core function. | |
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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. | |
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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. | |
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Healthcare cost projections Estimates of healthcare and long-term care costs in retirement |
Healthcare cost estimation (in retirement) is incorporated into retirement reports. | |
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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. | |
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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). | |
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Retirement lifestyle modeling Ability to model different spending patterns and lifestyles in retirement |
Supports retirement lifestyle scenario modeling per product FAQs and workflow guides. | |
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Simulation iterations The number of iterations used in Monte Carlo simulations for statistical reliability |
No information available |
Tax Planning
(5 Yes /5 Known /10 Possible features)
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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. | |
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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. | |
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Capital gains planning Tools to manage and optimize capital gains realization |
Capital gains management features are available for taxable account planning. | |
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Charitable giving strategies Analysis of tax-efficient charitable giving options |
Charitable giving and tax effects are considered in tax/estate simulation tools. | |
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Estate tax planning Tools for estimating and planning for potential estate taxes |
No information available | |
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Tax bracket management Strategies to manage income levels relative to tax brackets |
Tax bracket management/strategy tools are present in tax planning documentation. | |
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Tax-loss carryforward tracking Ability to track and utilize tax losses carried forward from previous years |
No information available | |
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Alternative Minimum Tax analysis Tools to project and plan for potential AMT implications |
No information available | |
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Multi-state tax planning Support for tax planning across multiple state jurisdictions |
No information available | |
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Tax update frequency How frequently the system updates tax rates, brackets, and rules |
No information available |
Estate Planning
(0 Yes /0 Known /10 Possible features)
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Estate distribution modeling Tools to model different estate distribution scenarios |
No information available | |
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Trust planning tools Support for analyzing different trust structures and their implications |
No information available | |
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Beneficiary management Tracking and management of beneficiary designations across accounts |
No information available | |
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Gifting strategy analysis Tools to optimize lifetime gifting strategies |
No information available | |
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Business succession planning Support for planning business ownership transfers |
No information available | |
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Estate document inventory Secure storage and management of estate planning documents |
No information available | |
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Dynasty planning Multi-generational estate planning tools |
No information available | |
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Charitable legacy planning Tools for incorporating charitable giving into estate plans |
No information available | |
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Estate tax projection Projection of potential estate tax liabilities under different scenarios |
No information available | |
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Maximum generations modeled The number of family generations that can be included in wealth transfer planning |
No information available |
Client Collaboration and Communication
(4 Yes /4 Known /10 Possible features)
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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. | |
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Mobile app access Dedicated mobile application for client access on smartphones and tablets |
No information available | |
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Document sharing Secure exchange of documents between advisors and clients |
The platform provides secure document sharing for client/advisor collaboration. | |
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Co-browsing capability Ability for advisors and clients to simultaneously view and interact with the same screens |
No information available | |
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Client task management Assignment and tracking of client action items |
No information available | |
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Virtual meeting integration Built-in or integrated video conferencing capabilities |
No information available | |
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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. | |
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Notification system Customizable alerts and notifications for clients and advisors |
Notification and alert system is included for both client and advisor workflow reminders. | |
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Client feedback tools Mechanisms for collecting and managing client feedback |
No information available | |
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Maximum document storage The maximum amount of document storage available for client files |
No information available |
Data Integration and Aggregation
(9 Yes /9 Known /10 Possible features)
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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. | |
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Banking integration Direct connections to banking systems for transaction data |
Direct banking integration for transaction retrieval is referenced in platform documentation. | |
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Investment platform integration Direct connections to investment platforms and custodians |
Investment platform and custodian integration is available per solution offerings. | |
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CRM integration Connectivity with customer relationship management systems |
CRM integration is available via APIs as well as out-of-the-box partners. | |
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Document management integration Connections to document management systems |
Document management system integration features are referenced in partnership technical documentation. | |
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Tax software integration Ability to share data with tax preparation software |
Can export/import to major tax preparation software, cited in user FAQs. | |
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API availability Availability of APIs for custom integrations with other systems |
API availability is supported for custom integrations as detailed in platform developer docs. | |
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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. | |
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Real-time data updates Frequency of automatic data refreshes from integrated sources |
Platform provides frequent (near real-time) data updates from integrated sources. | |
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Number of supported institutions The number of financial institutions supported for direct data aggregation |
No information available |
Reporting and Analytics
(8 Yes /8 Known /10 Possible features)
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Customizable reporting Ability to create and customize client-facing reports |
Comprehensive customizable reporting is supported, per all product demos. | |
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Interactive dashboards Dynamic visualization tools for exploring financial data |
Interactive dashboards are a distinguishing feature, highlighted in product UI tours. | |
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Scenario comparison Side-by-side comparison of different financial scenarios |
Scenario comparison tools for side-by-side reporting are shown in proposal modules. | |
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White-labeling options Ability to brand reports with advisor/firm branding |
White-label branding is available for client reports as per product options. | |
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Scheduled reporting Automated generation and delivery of periodic reports |
Scheduled/report automation is offered for recurring report generation and delivery. | |
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Benchmark comparison Ability to compare performance against relevant benchmarks |
Clients' investment performance can be benchmarked against indices; feature broadly marketed. | |
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Peer group analytics Comparison of client situations against similar demographic groups |
Peer group analytics present in the analytics section and proposal tools. | |
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Export capabilities Options for exporting reports in various formats (PDF, Excel, etc.) |
Export to PDF/Excel and other formats is a standard report function. | |
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Regulatory compliance reporting Generation of reports required for regulatory compliance |
No information available | |
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Report generation speed The average time required to generate complex financial reports |
No information available |
Security and Compliance
(8 Yes /8 Known /10 Possible features)
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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. | |
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Multi-factor authentication Additional security layers beyond password protection |
Multi-factor authentication is available for advisor and client logins. | |
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Role-based access control Granular permission settings based on user roles |
Role-based access features are standard for user management within the platform. | |
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Audit logging Detailed tracking of all system access and changes |
Audit logging and activity tracking are described as part of security and compliance capabilities. | |
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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. | |
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Data residency options Control over geographic location of data storage |
No information available | |
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Secure client communication Encrypted communication channels with clients |
All client communications are encrypted as described in platform security overview. | |
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Vulnerability testing Regular security testing and vulnerability assessments |
No information available | |
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Disaster recovery Comprehensive backup and recovery capabilities |
Backup and disaster recovery features are detailed in Morningstar security whitepapers. | |
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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. |
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.
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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.
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Communication Channels
(0 Yes /0 Known /12 Possible features)
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Email Integration Supports seamless sending and receiving of emails within the system. |
. | No information available |
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Secure Messaging Provides a secure, encrypted messaging portal for clients and advisors. |
. | No information available |
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SMS Notifications Ability to send alerts and updates via SMS. |
. | No information available |
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VoIP Calling Includes support for Voice over IP calls through the platform. |
. | No information available |
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Video Conferencing Offers built-in video meeting tools for virtual consultations. |
. | No information available |
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Mobile App Access Clients and advisors can access communications via mobile applications. |
. | No information available |
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Chatbot Support Automated chatbots provide responses and support for common queries. |
. | No information available |
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Document Sharing Allows for secure exchange of files and documents. |
. | No information available |
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Client Portal Self-service online portal for clients to access communication records. |
. | No information available |
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Push Notifications Supports push notifications to keep clients updated in real time. |
. | No information available |
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Multi-Channel History Tracks full history of communications across all channels in one timeline. |
. | No information available |
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Fax Integration Enables electronic receipt and sending of faxes. |
. | No information available |
Security & Compliance Features
(0 Yes /0 Known /9 Possible features)
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End-to-End Encryption Ensures all communication is encrypted during transit and at rest. |
. | No information available |
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Audit Trail Complete logging of communications for transparency and compliance. |
. | No information available |
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Access Controls Granular user permissions for accessing client data and messages. |
. | No information available |
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Data Retention Policies Automated management of data lifecycle in line with regulations. |
. | No information available |
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Two-Factor Authentication Adds a secondary authentication step for enhanced access security. |
. | No information available |
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Regulatory Compliance Certifications Meets key frameworks (e.g., FINRA, GDPR). |
. | No information available |
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Message Archiving Ability to archive all client communications for legal review. |
. | No information available |
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Secure File Transfer Facilitates sending files using encrypted transfer technology. |
. | No information available |
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Single Sign-On (SSO) Enables unified login for users with enterprise credentials. |
. | No information available |
Workflow Automation
(0 Yes /0 Known /9 Possible features)
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Automated Client Onboarding Speeds up and standardizes the process of bringing new clients onboard. |
. | No information available |
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Template Messaging Provides reusable templates for common communications. |
. | No information available |
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Task Assignment Allows tasks triggered by client communications to be auto-assigned within teams. |
. | No information available |
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Meeting Scheduler Automatically schedules meetings based on advisor/client availability. |
. | No information available |
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Follow-up Reminders Automatically triggers reminders for client follow-ups and outstanding items. |
. | No information available |
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Document Request Automation Automates requests and reminders for needed documents. |
. | No information available |
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Custom Workflows Allows custom automation rules for various communication processes. |
. | No information available |
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Bulk Messaging Sends communications in bulk to groups of clients as needed. |
. | No information available |
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Integrated Signature Collection Automates electronic signature requests in workflow processes. |
. | No information available |
Integration Capabilities
(0 Yes /0 Known /9 Possible features)
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CRM Integration Directly links with popular Client Relationship Management platforms. |
. | No information available |
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Calendar Integration Sync communications and appointments with calendar software. |
. | No information available |
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Document Management Integration Connects with leading document storage solutions. |
. | No information available |
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Client Data Sync Real-time syncing of client profiles with third-party systems. |
. | No information available |
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APIs for Custom Extensions Provides public or private APIs for custom feature extensions. |
. | No information available |
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Accounting System Integration Links to bookkeeping and accounting software. |
. | No information available |
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eSignature Platform Integration Compatible with leading electronic signature tools. |
. | No information available |
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Mail Merge Integration Supports personalized communications with data merge features. |
. | No information available |
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Third-Party Secure Storage Integration Ability to store or back up communications securely to external locations. |
. | No information available |
Customization & Scalability
(0 Yes /0 Known /8 Possible features)
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Custom Email Domains Allows customization of sender domains for branding. |
. | No information available |
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Personalizable Client Portals Client-facing portals can be branded and customized. |
. | No information available |
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Role-Based Views Different interfaces or dashboards for advisors, admins, and clients. |
. | No information available |
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Conditional Logic in Workflows Use of conditional statements in automations. |
. | No information available |
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Scalable User Licensing Easy addition/removal of users as the organization grows. |
. | No information available |
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Localization Options Support for multiple languages and local regulations. |
. | No information available |
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Custom Branding of Notifications Ability to brand system notifications with company logos, color palettes, etc. |
. | No information available |
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API Rate Limits Maximum allowed API calls per hour. |
. | No information available |
Client Service Experience
(0 Yes /0 Known /8 Possible features)
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Real-Time Status Tracking Clients can monitor request/progress status updates in real time. |
. | No information available |
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Advisor Availability Indicators Shows live status of advisor (available, offline, etc.). |
. | No information available |
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Feedback and Rating Tools Allows clients to rate and provide feedback on service. |
. | No information available |
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Multilingual Support Allows communications to be provided in multiple languages. |
. | No information available |
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24/7 Automated Support Chatbot or helpdesk support available around the clock. |
. | No information available |
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Proactive Client Alerts Automatically informs clients of important events or deadlines. |
. | No information available |
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Accessibility Features Supports accessible communication (screen readers, enlarged text, etc.). |
. | No information available |
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Customizable Notification Preferences Clients set their preferred channel and frequency for updates. |
. | No information available |
Performance Metrics & Reporting
(0 Yes /0 Known /7 Possible features)
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Response Time Tracking Measures the average time to respond to client inquiries. |
. | No information available |
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Message Volume Analytics Tracks the number of messages sent/received. |
. | No information available |
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SLA Compliance Reporting Reports on meeting Service Level Agreements for communications. |
. | No information available |
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User Activity Dashboards Displays user participation in communications. |
. | No information available |
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Error/Error Rate Tracking Monitors failed delivery or communication errors. |
. | No information available |
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Automated Report Scheduling Automatic generation/distribution of reports. |
. | No information available |
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Downloadable Data Allows export of communication logs and reports for offline analysis. |
. | No information available |
Mobile and Remote Capabilities
(0 Yes /0 Known /5 Possible features)
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Mobile Push Alerts Notifies users via mobile apps. |
. | No information available |
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Fully Responsive Design Interfaces adapt cleanly to all device types and sizes. |
. | No information available |
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Offline Message Drafting Allows composing communications offline to send later. |
. | No information available |
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Remote Access Security Includes additional protections when accessing remotely. |
. | No information available |
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Multi-Device Sync Seamless data sync across desktop, tablet, and mobile. |
. | No information available |
Usability & Adoption Tools
(0 Yes /0 Known /7 Possible features)
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User-Friendly Interface Intuitive design for both advisors and clients. |
. | No information available |
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Onboarding Tutorials Built-in tutorials guide new users. |
. | No information available |
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Contextual Help Widgets In-app help guides and tips. |
. | No information available |
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Multi-Tiered Support Different levels of support based on user expertise or role. |
. | No information available |
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Localization Support for multiple languages and regional formats. |
. | No information available |
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Training Materials Comprehensive manuals, videos, and reference guides. |
. | No information available |
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Adoption Analytics Monitors usage rates and adoption trends. |
. | No information available |
Reliability & Availability
(0 Yes /0 Known /7 Possible features)
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Uptime Guarantee The percentage of time the system is guaranteed to be operational. |
. | No information available |
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Disaster Recovery Plans and systems for restoring service after major failure. |
. | No information available |
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Automated Backups Regular, automated backups of communication data. |
. | No information available |
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Load Balancing Distributes incoming communications for optimal efficiency and reliability. |
. | No information available |
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System Health Monitoring Automated checks on availability and performance. |
. | No information available |
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Geo-Redundancy Uses multiple data centers in different regions for failover. |
. | No information available |
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Scheduled Maintenance Notifications Notifies users in advance of planned downtimes. |
. | No information available |
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