Independent financial advisors to benefit from FIX Flyer’s streamlined trade management platform
FIX Flyer, LLC announced today a new relationship with Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, to deliver automated trading capabilities for Total Rebalance Expert (TRX), Morningstar’s automated, tax-efficient investment portfolio rebalancing platform for independent financial advisors.
FIX Flyer’s integration with Morningstar TRX streamlines the trading process by automatically routing trade orders directly to brokers and custodians for all asset classes. TRX users use FIX Flyer’s trade order management system to review, submit, and monitor orders in real-time with a single click. Flyer Trading Network, FIX Flyer’s unified centralized connection to multiple brokers and trade and post-trade workflows, automatically manages the connections to all the major custodians and brokers.
“Registered investment advisors today are demanding automated trading, eliminating cumbersome manual processes that can lead to higher operational risk and cost,” said Bradley Kellogg, COO, FIX Flyer. “Our integration with Morningstar TRX will make it easier for advisors to seamlessly route and manage orders across their brokers, giving them the freedom to get more done.”
Manual trade processes that require exporting and uploading trade files to brokers and custodians can be repetitive, time-consuming and inefficient. The manual process breaks down as an advisor’s business expands impeding his or her ability to scale and grow.
“Integrating FIX Flyer’s trade and connectivity platform to TRX saves time, eliminates manual processing, reduces errors, and provides advisors with a real-time view on trade flow with custodians and brokers,” said Rahul Ravikrishnan, Senior Product Manager at Morningstar. “Automated trading gives advisors a chance to focus on what’s really important—helping clients reach their goals.”
There is no fee for the automated trading integration and only minimal set-up with the broker(s) is required for implementation. Advanced trading capabilities are available for a nominal fee.
FIX Flyer connects wealth and asset managers to brokers and custodians to make managers more productive and successful. Flyer has automated the trade lifecycle with a trade order management system and a multi-asset trading network with advanced integration monitors. The platform unifies access to all custodians and brokers and delivers access to algorithmic step out trading with straightforward back office integrations and real-time insights in trading and positions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $200 billion in assets under advisement and management as of June 30, 2017. The company has operations in 27 countries.