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Morningstar Launches New Client Portal

Morningstar Launches New Client Portal

Making personal financial management as easy as making a cup of coffee.

Morningstar launched a new personal financial management portal on Monday built around the ByAllAccounts data aggregation service Morningstar acquired in April 2014. Called ByAllAccountsSM, the new portal is a mobile-ready, customizable dashboard that pulls together all of an investor’s accounts and updates them daily so advisors can show clients a holistic look at their net worth. Advisors can simply drag-and-drop things like total wealth, balance sheets and cash flows to customize what they show clients. ByAllAccountsSM also includes a document vault and client alerts for when asset allocations are out of balance or deposits and withdrawals are made. To go along with the new portal, Morningstar said it recently tripled the data sources ByAllAccounts aggregates to include liabilities such as loans and credit card debt.

Starting Them Early at Berkshire’s Meetings

Teaching kids the importance of saving and being financially savvy from a young age is always a good thing. That’s what these parents were thinking when they started bringing their young ones to Berkshire Hathaway’s annual shareholders meetings, held this past weekend in Omaha, Neb. According to the Omaha World-Herald, some parents brought their kids along to the meetings to shop, see the exhibits and listen in on some of the question-and-answer sessions. Parents say the event teaches their kids the value of money. One girl, for example, has saved her money from chores and birthdays since she was little; she plans on using it for college. Another child said his favorite Warren Buffett advice is, “Buy low and sell high.” Could this be the next generation of financial advisors?

Hard Times for U.S. Pastors

Divine intervention needed. | Copyright Sean Gallup, Getty Images

A majority of evangelical pastors in the United States are personally suffering financially, according to a study by the National Association of Evangelicals. The study shows that the pastors rarely share their burdens with their congregations and do not confide their financial stress with anyone outside of their household. “Fifty percent of pastors receive less than $50,000 per year in compensation, with 30 percent having student loan debt averaging $36,000,” the study revealed. In addition, 80 percent of pastors served in churches with less than 200 in their congregation, with 55 percent coming from churches with less than 100 members. Because of the small congregations, the burden falls on the pastors. As a result, 33 percent have under $10,000 in retirement funds and 29 percent have zero personal savings, NAE stated.

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