No data left behind: How AdvisorEngine helps firms switch from Morningstar Office

Over the last few months, we’ve worked with a number of firms upgrading from Morningstar Office, and I wanted to highlight the length AdvisorEngine® goes to help our clients make the transition.

Few things in wealth management are more stressful and fraught with challenges than switching to an entirely new practice platform. So our product teams are dedicated to ensuring the critical underlying data migration is both accurate and absolutely thorough. No data gets left behind. 

We take on the burden of migrating the data, so our clients can stay focused on serving their clients. Our team handles the technical heavy lifting and provides guidance and insights into your data. 

We gather and review all of your firm’s key data from Morningstar. That includes:

• Historical performance
• Fees & fee assignments 
• Historical transactions 
• Households 
• Models & model assignments

We have a structured and refined data reconciliation process to make sure your data is accurate. Our goal is that when you go live, your practice data is in great form. We want our clients focused on their work and able to run reports uninterrupted.

I want to reiterate that we have a world-class support system to guide your firm through the entire transition process. From the moment you begin moving onto our wealth platform, our onboarding team collaborates with our data engineers and trainers to create a detailed plan tailored to your firm.

Whether it's migrating your data, setting up your preferences for trading and rebalancing, performance reporting, fee billing or providing any training your team needs, you’re in the loop, connected and empowered. 

Once on the AdvisorEngine wealth management platform, your firm has a wealth of features that are all part of an industry-leading advisor experience. 

• Interactive reporting that makes key data points accessible, such as the ability to drill down into client accounts and see what’s affecting performance
  
  
• Clear visibility into cash flow impacts so that you can track market value and net invested capital trends to illustrate the impact of contributions and withdrawals
  
  
• Quick access to revenue data and billing reports, with visualizations that turn raw data into deeper insights on revenue trends and billing details
  
  
• A client portal that elevates your practice, where you can manage multiple white-labeled experiences for different sub-brands, client segments or advisors, all from a centralized location

You’ll also notice the difference in how we approach our work with clients.

We view our clients as our partners, and our focus is on strengthening the three key pillars of your advisory firm practice, which we call AX/BX/CX: The Advisor Experience, Business Operations Experience and the Client Experience.

Our partnership approach is truly distinctive – we consistently earn a 98% client service satisfaction rating. 

Additionally, our partnership with Franklin Templeton enables access to several investment services, including portfolio reviews through Portfolio Consulting Services (PCS) and custom direct indexing through Canvas. We also freely offer industry leader and peer-sourced, actionable practice management tips through our RIA publication, Action! magazine.

I’m incredibly proud of the work, care and service we’ve dedicated to our clients. We’re here to help your transition from Morningstar Office, and I invite you to reach out to us. 

Ready to make the move to AdvisorEngine?

• Hear how switching over can be your firm’s unexpected growth opportunity
• Contact us and get your personalized transition plan

Rich

 Investment Services delivered by Franklin Templeton