New web-service integration eliminates manual data entry for Morningstar Office users
MoneyGuidePro®, a leader in goal-focused financial planning, and Morningstar, Inc., a leading provider of independent investment research, today announced greatly enhanced integration between MoneyGuidePro and Morningstar OfficeSM, the practice and portfolio management system for independent financial advisors.
Innovative new enhancements include the seamless flow of Morningstar Office account and position data into MoneyGuidePro’s financial planning software. Users set up the integration one time, and MoneyGuidePro will automatically check Morningstar for new information, while automatically updating client profiles based on existing portfolio data in Morningstar Office. Independent advisors will now be able to use these two powerful resources more effectively together – saving time, reducing errors, and better serving their clients.
“MoneyGuidePro and Morningstar have a relationship that offers mutual customers an integrated investment research, portfolio management, and financial planning experience. We are excited to deepen that relationship with enhanced capabilities for independent advisors using Morningstar Office,” said Tricia Rothschild, Morningstar’s global head of advisor solutions. “Our new web service can automatically send MoneyGuidePro users up-to-date client data, and it supports our goal of streamlining advisor workflows by creating connections between Morningstar products and leading third-party applications.”
“We have had a long-standing relationship with Morningstar, and we are pleased to now offer enhanced integration capabilities that help financial advisors work more efficiently, accurately, and strategically on behalf of investors,” said Bob Curtis, CEO of MoneyGuidePro.
The integration between MoneyGuidePro and Morningstar Office breaks down the barriers between silos of information, enabling advisors to cut down on data entry, maintain current information, and prevent user error. This functionality equates to less time spent on data transfer and re-entry by advisors, in addition to real-time investor information feeding MoneyGuidePro’s financial plans.
With a core focus on goal-based planning, MoneyGuidePro helps advisors actively engage with clients and puts clients’ needs, wants, and wishes at the forefront of the financial planning process. Working effectively with Morningstar Office, MoneyGuidePro enables advisors to pull data seamlessly into its illustrative planning software to give clients a more precise, visually pleasing, and realistic snapshot of their assets and future investment scenarios.