Morningstar Advisor Workstation Office Ed

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Jan 15, 2007 12:06 am

Anyone have an opinion on this one? (For an RIA)

Jan 15, 2007 9:28 pm

I looked into the platform, but found it to be very expensive.

I wasn’t impressed with their performance reporting capabilities. I think it

offers a Monte Carlo wealth simulator, and a quasi financial planning

module. However, I felt that I was better equipped by assembling my own

set of 1.) financial planning with Monte Carlo, 2.) Performance

monitoring, and 3.) mutual fund analytics on my own.

The ‘enterprise’ edition also has a portfolio optimizer, however, they do

not offer it for their office version. Enterprise is used on a firm-wide

basis for some firms, but not the small RIA market.

I felt that it was a bit too expensive for my taste ($15,000 per year), and I

didn’t think they offered the best thing running.

I do, however, use their full suite of mutual fund, equity, closed-end, VA,

and separate account software bundles. It’s excellent - Morningstar

Principia Pro, Advanced Analytics. I’m also considering their Ibbotsen

portfolio optimization software as well.

It’s an excellent firm, but there are loads of options out there that we

thought offered a better product at a better price.


Jan 17, 2007 5:56 pm


It’s an excellent firm, but there are loads of options out there that we

thought offered a better product at a better price.


Such as…

Jan 18, 2007 8:33 pm

For performance reporting: Black Diamond Performance reporting

For monte carlo/summary financial planning/wealth forecasting:

We use morningstar for mutual funds, separate account, equity, closed

end funds, and VA’s, and have added the hypotheticals module to the

whole thing.

Lastly, we will be adding the portfolio optimization software from

Morningstar in March.

The workstation version just didn’t feel like it was worth the $15,000 to

us. We assembled the above referenced at less than half the cost, and

felt that we were getting a better product. I’m sure that some people

would like to see it done within one platform. However, when you have

some components which are clearly better than others with more

flexibility, you have to give them proper consideration.

I like Morningstar, and have used their platform for the past 9 years.

They are excellent. Love their service!