MStar Advisor Workstation or Advent

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May 2, 2007 8:49 pm

Anyone have an opinion for a HNW wealth management practice?

May 2, 2007 10:12 pm

What do you value more…

1.) Investment analytics, or

2.) Performance reporting.

If you prefer to have a stronger investment analytics platform, then the

Morningstar platform is the way to go. It offers an integrated billing and

analytics platform that allows you to download your client data, create

performance reports, and analyze portfolios no different than you would

through Principia.

If you have a stronger need to provide fully customizable performance

reporting, without the strong need for investment analytics, then Advent

is the program for you to consider. You can customize your own reports

with a level of customization that is far more flexible than Morningstar.

Both systems are strong systems. For me, I’d prefer to separate my

analytics platform from my reporting system. We use a company called

Black Diamond that receives a direct feed from our custodian. We

customize the reports, and the data is organized for each partner in an

excellent format. They take care of everything during your conversion,

and you don’t have to reconcile your own accounts each day (that’s the

rub with the other systems which you have to maintain). I’d give them a

call, seriously, and see if they can give you a web demo.

I believe that Advent may also offer a ‘hands off’ version of their software,

where they scrub and maintain your data and allow for a user to login to

the website and view the data. Not sure exactly, but I think they provided

my firm that service as an option if we didn’t want to have someone

maintain our data through the standalone system.

It’s all good stuff.


May 3, 2007 11:45 am

I would also look into Zephyr…

May 3, 2007 4:16 pm

I like Morningstar.

Apr 1, 2008 10:02 pm

The Office Edition Advisor Workstation is actually $5400 a year, not $15,000.  The license is valid for one advisor and one assinged assistant.