Morningstar launches new advisor-centered research, business intelligence solution for home offices, and the next step for its AI chatbot Mo
CHICAGO, Sept. 11, 2023 /PRNewswire/ -- Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment insights, joins Future Proof, the world's largest wealth festival, Sept. 10-13, 2023 in Huntington Beach, Calif. with new market research and product developments that center around the Evolving Investor. The Morningstar Booth is #300, located at the south-central section of the boardwalk.
"Investor needs are changing, as they navigate opportunities brought upon by fast-moving technological developments, increases in investment choice, wealth transfer between generations, and the need for sound advice," said Kunal Kapoor, chief executive officer at Morningstar. "We look forward to connecting with advisors and financial professionals alike this week at Future Proof to share our independent research and insights to empower investor success."
Following the launch of The Voice of the Investor research at the Morningstar Investment Conference in April, Morningstar today published The Voice of the Advisor, which takes the pulse on the behavior of more than 600 financial advisors and wealth managers across the United States to reveal trends in their product and service offerings, how they allocate their times, and where they are looking for help.
The report found that advisors are focusing on the needs of their clients more than ever before, as shown by these key findings:
Morningstar Launches Enterprise Analytics, Offering Compliance and Business Insights to Advisor Firms
Morningstar® Advisor WorkstationSM today debuted Enterprise Analytics, a suite of dashboards that surfaces business intelligence based on firmwide activities in Advisor Workstation. The three dashboards– Compliance, Insights, and Performance – help identify valuable data intel such as the percentage of proposals that may pose a regulatory risk, month-over-month trends in proposal volume, or the breakdown of most frequently proposed asset classes. Enterprise Analytics also enables firms to compare their activity to industry benchmarks.
"The Voice of the Advisor survey shows that advisors are spending more time creating personalized proposals that recommend a wider range of asset classes. As advisors work to meet evolving investor needs, home offices at advisor firms are eager to understand the impact to their business," said Vimal Vel, head of enterprise software at Morningstar. "For our clients, Enterprise Analytics tells the story of how a firm's advisors are adapting their investment recommendations using a powerful set of dashboards and aggregated business metrics."
Morningstar is offering Enterprise Analytics demonstrations at the Morningstar Booth #300 this week at Future Proof. Stop by to learn more and click here to learn about Morningstar Advisor Workstation.
Morningstar's AI Chatbot Graduates to API
In continuing its efforts to bring artificial intelligence to the investing ecosystem, Morningstar is now making the platform that powers Mo, its AI chatbot that debuted in May, available through a new service. The Intelligence Engine API provides financial services firms with a means to build their own generative AI solutions, tailored to their distinct needs.
"Mo has answered tens of thousands of investment research questions in a few short months, demonstrating the impact generative AI can have on this space," said Lee Davidson, chief analytics officer at Morningstar. "Resources are tight, and firms are looking for ways to streamline processes with AI. The Intelligence Engine API enables teams to redefine workflows, shifting analyst focus away from recurring tasks and toward higher value activities."
The Intelligence Engine API draws from Morningstar's breadth of independent data, research, and editorial content to produce relevant insights, and allows firms to integrate their own proprietary research so that responses generated from the service reflect their brand, perspective, and product offerings. The platform also incorporates responsibility in its design to help manage AI-related risks. With the Intelligence Engine API, firms can more quickly leverage this burgeoning technology to create engaging digital experiences for their advisors and their end clients.
Learn more about the Intelligence Engine here. The avatar version of Mo will also be on display all week at Future Proof at Morningstar Booth #300.
Morningstar Booth at Future Proof
Learn more about Morningstar's presence at Future Proof and Evolving Investor activations at Booth #300 at the south-central part of the Huntington Beach boardwalk. The booth features Morningstar product demos, raffles for exciting giveaways, and receptions on Sunday and Monday. Reach out to [email protected] for additional information.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers and owners, retirement plan providers and sponsors, and institutional investors in the debt and 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, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $264 billion in assets under advisement and management as of June 30, 2023. The Company operates through wholly- or majority-owned subsidiaries in 32 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on Twitter @MorningstarInc.
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SOURCE Morningstar, Inc.