Performance Reporting

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Jul 22, 2008 3:18 pm

Does anyone have any recommendations for performance reporting for indy's?  I'm not a big fan of Pershing's. 

 
I'd like to have something that can include VA's too.

Morningstar has their advisor workstation but at $5,000/year, it seems a little excessive.
Jul 22, 2008 5:39 pm

I'm not a Morningstar guru, but my understanding is you wouldn't use the advisor workstation unless you wanted an all-in-one that not only handles performance reporting but also Portfolio Management System, CRM, etc.  Sounds like overkill for your needs.

Principia alone covers the reporting part for much less than Workstation.  Also, don't simply go by retail pricing - Morningstar, like many vendors, offer substantial discounts when you buy them through most leading b/ds and/or custodians.

What exactly are you looking to do with the performance reporting?  Is
this for you or the client?  To sell something new or track something
already in the portfolio?

Jul 22, 2008 5:46 pm

Mostly just to track client performance so that every month or every quarter I can give them something to compare to.  Ideally it would have the ability to put everything from a mutual fund, individual stock, bond, annuity, cd, whatever into it.

 
I don't use Monte Carlo simulations often, but it would be nice to have that feature should I feel I can win business over more efficiently with it.
 
I kind of feel like for some "more important" clients, they would appreciate something a little more than just statements.
Jul 23, 2008 9:58 am

Sounds like you should at least investigate Morningstar Principia, Snags.  Here's the overview from their website:

Morningstar® Principia®
is one of the most widely used resources in the financial planning
industry. With a powerful research database that includes mutual funds,
stocks, variable annuities, closed-end funds, and separate accounts,
advisors can conduct advanced research and analysis, monitor
portfolios, and propose investment strategies.

Jul 23, 2008 5:49 pm
Morphius:

Sounds like you should at least investigate Morningstar Principia, Snags.  Here's the overview from their website:

Morningstar® Principia® is one of the most widely used resources in the financial planning industry. With a powerful research database that includes mutual funds, stocks, variable annuities, closed-end funds, and separate accounts, advisors can conduct advanced research and analysis, monitor portfolios, and propose investment strategies.

 
I looked into Principia.  It's actually cheaper to go with the complete Advisor Workstation with Pershing as my clearing firm.  But it's still $2500, down from the original $5000.  The principia package was about $3500.
 
Does anyone who uses NetExchange subscribe to any add-on's?  They seem a little weak, but $2500 could probably be better spent...