Morningstar Advisor Workstation Reviews & Product Details

Marketing Associate
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

Ease of use: Anyone from high school interns to seasoned professionals (sometimes worse with technology) can figure out how to create a portfolio and generate a report. There are some more advanced settings that allow for more detailed reports, if you are looking to create something with more specific metrics.

Vast "Universes" of Asset Classes: Nearly every type fund, bond, stock, UIT, annuity subaccount etc. is available in its own universe. Review collected by and hosted on G2.com.

What do you dislike?

Sometimes difficult to find the product that you are looking for, due to the availability and listing of nearly every product out there. Pay extra for different universe packages. Sometimes a lot extra. Takes some time to update quarterly numbers after end of quarter - can be frustrating. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Start with the package that has the product universes that you need. If you ever need to add a universe, even temporarily, call your rep, add the universe and when you no longer need it, revert to the old package. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Useful reports. Easy to track certain portfolios using the tool. Fact finding information for funds/stocks and other products is simple with this tool. Review collected by and hosted on G2.com.

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Morningstar Advisor Workstation Overview

What is Morningstar Advisor Workstation?

Modern investors are bombarded with financial information. More than ever, they need financial coaches who’ll help them cull through the noise with great advice on how to meet their monetary goals without compromising their values. To meet that need, Morningstar® Advisor Workstation delivers a web-based platform for financial institutions and their affiliated financial professionals to drive better investor outcomes by delivering independent financial data, research, and analysis from a team of over 350 global experts with FINRA-reviewed reporting. Morningstar® Advisor Workstation offers investment analysis, portfolio management and proposal generation capabilities all in one place to enable broker-dealers to provide personalized goals-based advice – all while helping them stay compliant amidst regulatory shifts.  Built for productivity, Morningstar® Advisor Workstation supports advisors with the latest investment data, tools, and reports to serve existing clients and generate new business. Seamless integration with popular advisor systems automatically brings in current client and account data for the clearest view of your book of business.

Morningstar Advisor Workstation Details
Languages Supported
English, French
Product Description

Built for productivity, Morningstar® Advisor Workstationsupports advisors with the latest Morningstar investment data, tools, and reports to serve existing clients and generate new business. Seamless integration with popular advisor systems automatically brings in current client and account data for the clearest view of your book of business.


Seller Details
Seller
Morningstar
Ownership
MORN
Company Website
Year Founded
1999
HQ Location
Chicago, IL
Total Revenue (USD mm)
$798
Twitter
@MorningstarInc
104,062 Twitter followers
LinkedIn® Page
www.linkedin.com
7,802 employees on LinkedIn®

Overview Provided by:
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Morningstar Advisor Workstation Screenshots

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Morningstar Advisor Workstation Reviews

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Consultant
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best?

Quite a comprehensive data on funds and fund managers. Like the most the internal ranking that Morningstar provides which became industry leader. Review collected by and hosted on G2.com.

What do you dislike?

The website doesn't look as user friendly, so the experience you get might not be as exiting as in case of competitors - Bloomberg and Reuters Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Highly recommended if there are no other ways to receive access to Reuters or Bloomberg Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Analysing funds, comparing funds, benchmark analysis Review collected by and hosted on G2.com.

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UF
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

Easy to use interface with numerous helpful filters - can really customize to your liking Review collected by and hosted on G2.com.

What do you dislike?

Research lists versus searches a little confusing Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Definitely a must for mutual funds Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Finding competitors and benchmarks Review collected by and hosted on G2.com.

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Associate Vice President, Client Administrative Manager
Financial Services
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

Options for running various reports. Customer service , representatives are well trained and you connect directly to the support team. Dealing with software companies and not having to go through robots is a HUGE advantage. Review collected by and hosted on G2.com.

What do you dislike?

Groups already created , does not automatically update with changes to default settings

search capabilities for unknown securities / proxies

Annuity limitations

Coverpage design

update print, to read reports easier ( or add color)

provide a better table of contents

report software , is dated and can be updated to be more user friendly. but after a few month of trial and error you are able to learn the do/ donts, what to be careful of . and training others I am able to explain the glitches and shortcomings. but once you master it is fine

Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Morningstar has an abundance of information right in one place that you can use to research funds and stocks, that I am able to prove to FAs. Im new to the business and using Morningstar helps me self learn and research stock market ; equity, mutual fund, and ETF research, IRA, 401(k) and 529 plan research.

Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from the seller
What do you like best?

Giving my clients monthly reports is very useful. They are able to see a consolidated report of all their linked accounts in one place every month, with the latest portfolio balance. Review collected by and hosted on G2.com.

What do you dislike?

Can be hard to understand how to import information. Saving/reusing models would be a wonderful feature if I could ever understand how to navigate it. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Reccomend if you have plenty of time to learn/practice with the software. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Communicating with our clients and giving them a better understanding of their portfolios. Review collected by and hosted on G2.com.

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AG
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

I really appreciate that I can call as often as needed if there's a reconciliation or import issue and even if the solution is super easy, they never make me feel like silly about the question. Their support staff are very knowledgeable and patient. Review collected by and hosted on G2.com.

What do you dislike?

I don't like that things aren't very intuitive. If we want to run a report with some different features or options, we always have to call for help. While their staff are always friendly and helpful, it would be nice to be able to figure out how to do simple changes or modifications on our own. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Financial advising, planning, management. We have multiple custodians and import all of the positions and transactions data into one place for our clients. Review collected by and hosted on G2.com.

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President
Financial Services
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

Full functionality allows users to research a wide variety of securities Review collected by and hosted on G2.com.

What do you dislike?

cumbersome to use and especially to customize. No preferreds! Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Make sure the securities you are interested in are covered. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Due Diligence. Provides a basis upon which to document recommendations. Review collected by and hosted on G2.com.

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UF
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

i like how easy and intuitive the information is to access- its extremely user friendly and i do not waste time searching for what i need. comparison between funds and using their quantitative data to compare is quite useful Review collected by and hosted on G2.com.

What do you dislike?

i dislike that there are more qualititative aspects of funds/ ETFs that i would like to review, morningstar does a great job comparing quantitative but lacks some of the more in depth qualitative. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

add more qualitative screens and information, the quantitative data is there but can be massaged more to show trends etc. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

it allows us to spend less time researching the funds, because we can spend hours diving deep into what a fund does, management style etc. Review collected by and hosted on G2.com.

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UF
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

This platform can be as complex or simple as you want. From simply researching individual stocks and funds for ratings and performance to creating complex research lists, the functionality of this program compliments a broad array of experience. The ability to create your own filters to narrow down investments that fit your requirements is extremely helpful in a world of numerous options. Review collected by and hosted on G2.com.

What do you dislike?

The ability for the program to show point-in-time returns is limited if not non-existent. Adding the capability to break down returns for an input date range would be very beneficial. The program also lacks the ability to track the returns of a given portfolio if you want to change it throughout the year. For example, if you update the allocations for a portfolio, it then shows you historical returns for the new allocations disregarding any previous allocations the portfolio had. If you could tell the program to keep one set of allocations for the first quarter and start tracking new allocations for the second on a go-forward basis this would be more representative of what happens in real life portfolios. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Don't be afraid to contact their customer service representatives. Every time I have had an issue or suggestion, they have been very quick to fix the problem or add me to an alert list when the situation has been resolved. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Workstation allows our group to do in depth research while also providing reports our clients can easily understand. It has the functionality to connect to our client's personal portfolios so we can generate historical and pro-forma analyses. Review collected by and hosted on G2.com.

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UF
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

The ability to filter mutual funds and find the best ranked and compare funds. Review collected by and hosted on G2.com.

What do you dislike?

Not being able to search for a fund with in a research list, it just takes you back to the mutual fund universe. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Using Morningstar AWS to compare funds, helping to prove I am doing what is in the client’s best interest. Review collected by and hosted on G2.com.

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AF
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

Morningstar is used widely throughout the financial industry as a leader in portfolio analytics. Review collected by and hosted on G2.com.

What do you dislike?

Monringstar can be limited in the information that it produces depending on the level of your subscription. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Advisor Workstation is very valuable to anyone who needs portfolio analysis. It does not, however, provide accurate history if you actively trade portfolios. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We solve the need for accurate and reliable analysis of stocks, bonds, mutual funds, and ETF's. Review collected by and hosted on G2.com.

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UF
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

I can adapt the platform to my needs and customize the outputs. Review collected by and hosted on G2.com.

What do you dislike?

I don't like the customer service. I find that if I have a problem, it takes a while to get to a person for a solution, although the online help references are good. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Do the free trial and get any questions answered by a support team member early in the process. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

I am able to print high quality client reports that have been well received. Review collected by and hosted on G2.com.

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UF
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

Access to any securities traded on the common exchanges Review collected by and hosted on G2.com.

What do you dislike?

User interface could be updated a little Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

M.A.W. helps draw up hypothetical solutions for my clients and delivers very detailed, professional looking solutions. Review collected by and hosted on G2.com.

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AA
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

The ease of use, the reporting features, investing advice, research at your fingertips Review collected by and hosted on G2.com.

What do you dislike?

i have not come across anything particularly not useful or wanted Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

the ability to understand portfolio's, use their research to understand investments and help clients understand, as well as myself what the real numbers mean Review collected by and hosted on G2.com.

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AI
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

Responsiveness and 24/7 data availability. Review collected by and hosted on G2.com.

What do you dislike?

Would like to see more Variable Annuities available for review. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Able to access detailed data on nearly any mutual fund, exchange traded fund, and bond fund, as well as many variable annuities. Review collected by and hosted on G2.com.

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President
Investment Management
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

Great breadth of information, nice to have all available investments in one place Review collected by and hosted on G2.com.

What do you dislike?

Fund category assignment and benchmarking at times do not align with the intention of the fund manager. Would be nice to be able to open dual screens to use hypotheticals and screening tools at the same time. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Fund selection and monitoring for our wealth management clients. Running hypothetical portfolios. Review collected by and hosted on G2.com.

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AN
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

The report output is very customizable, attractive, and easy to use as a learning tool with clients. Review collected by and hosted on G2.com.

What do you dislike?

It's a rather outdated UI - it's hard to find anything and the differences between various options is not clear. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

We considered upgrading to the full Morningstar Office, but while it was a nice upgraded UI, it just did more than we needed and didn't solve some of our key complaints. This Advisor Workstation fits the bill for us! Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We are able to analyze a client's current portfolio being held elsewhere as a sales tool, and use this data to balance their portfolio in the most advantageous way possible. Review collected by and hosted on G2.com.

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UF
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2
What do you like best?

Morningstar Advisor Workstation has an enormous database of mutual funds, ETFs and annuities, that is easily searched and filtered. Review collected by and hosted on G2.com.

What do you dislike?

Focus in on actively managed products and active management in general - the data and graphics are to a large extent irrelevant to asset class oriented advisors. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

The product helps us meet our fiduciary obligation in screening investment products for best in class offerings. Review collected by and hosted on G2.com.

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UI
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

My favorite part of Morningstar is that I am able to export reports easily to Excel. For example, I am able to compare multiple mutual funds on their performance very easily and view them easily on Excel. Review collected by and hosted on G2.com.

What do you dislike?

Nothing about the interface is intuitive. Very confusing where to find certain features, even for people who work with it constantly. In addition, it is extremely slow and it goes down constantly. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

I recommend that you write down their support number somewhere because you'll be speaking with them constantly. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

I am using Morningstar Advisor Workstation to view the performance of the funds my company's financial advising clients are in and view their allocation easily. Review collected by and hosted on G2.com.

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