Morningstar Reaches Milestones, Aggregates More than $1 Trillion in Assets Daily Through Morningstar ByAllAccounts Aggregation Service

2 March 2015

Morningstar, Inc. a leading provider of independent investment research, today announced a number of milestones for its Morningstar® ByAllAccountsSM aggregation service. The company aggregated more than $1 trillion in investor assets at the end of 2014, providing comprehensive financial account data to advisors, asset managers, trust companies, and broker-dealers. Morningstar also significantly expanded the number of sources from which it can aggregate data, such as banks, clearing firms, and recordkeepers, to more than 20,000 from 4,500. 

In addition to expanding its data sources and processing, Morningstar has enhanced the ease with which broker dealers and their clients can set up and view accounts with a new consumer interface and the ability to embed the aggregation system in a broker-dealer’s own advisor-facing platform. Designed to be intuitive and engaging, the new interface creates additional efficiencies for advisors and allows them to spend more time with clients. Broker-dealers can now easily integrate the new interface into their client portals to provide automated investment advice. They can also embed the aggregation system into their advisor-facing platforms to create a seamless experience for their advisor network. 

“We’ve reached several significant milestones that speak to the importance advisors and broker-dealers place on providing holistic financial planning. They recognize that the best investment recommendations start with a comprehensive, accurate, and timely picture of an investor’s total wealth,” James Carney, head of ByAllAccounts, said. “By expanding the number of sources we collect data from and making it even easier to upload that data with a user-friendly interface, advisors have the tools they need demonstrate their value and create better outcomes for their clients.”

Carney added, “The Morningstar ByAllAccounts aggregation service powers solutions across Morningstar’s product suite, like proposal generation, asset allocation, and financial planning, and enhances an advisor’s entire workflow.” 

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