Morningstar Advisor Work Station
Van distributiemodel naar een succesvol servicemodel
BZB Congres - 7 November 2014
Ben Granjé
Morningstar Benelux
Morningstar – the thirty second intro
Leading provider of investment expertise
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holistic
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Investment
Management
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Manager & Fund Research
Equity & Credit Research
Lifecycle & Retirement Research
Asset Allocation & Portfolio construction
Investor experience Research
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Data processing and analysis tools
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Managed investment Database
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reknown
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Research & Rating
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leading
Technology/Tools
unique
Database
Thought leadership
Independent advice to industry & regulator
Morningstar Investment Management
all types of portfolio‘s, including their holdings
Individual stocks, bonds, indices, ...
Beleggingsfondsen
Wat zijn de voordelen?
▶ Gemak
▶ Eenvoudige diversificatie
▶ Toegankelijkheid markten en beleggingsstijlen
▶ Expertise
▶ Schaalvoordelen
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Why Do People Seek Help?
Many funds do not succeed in beating their benchmark!
Quality Advisors have insight beyond retail understanding
There are 30,000 funds (or 100.000 fund classes)
offered for Europe alone. How do you pick one?
Morningstar Research @ your service
Depth and Breadth of Analysis
Morningstar Fund Profile
available on the website
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Moving Beyond Past Performance
“Achievement” Test
“Aptitude” Test
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Beleggingsfondsen
Morningstar Analyst Rating – Kosten
Over het algemeen blijkt:
▶ Des te goedkoper een fonds
▶ Des te groter de stabiliteit in het
beheerteam
▶ Des te meer beheerders in het eigen
fonds beleggen
▶ Des te beter dit is voor beleggers
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The Five Pillars
People: Comprehensive evaluation of the managers' talent, tenure, and resources.
Process: What is the strategy, and how does that translate into the portfolio?
Parent: What priorities prevail at the firm? Stewardship or salesmanship?
Performance: Why did the fund behave a certain way in different markets?
Price: Is the fund a good value proposition compared to similar funds
sold through similar channels?
Morningstar Advisor Work Station
Van distributiemodel naar een succesvol servicemodel
Beta Tools
Help us help you
Alpha, Beta, and Now…Gamma :
outperformance related to the advisor
Alpha
Beta
Gamma
Lyfecycle Allocation: What Do Retirees Fear More?
Source: https://www.allianzlife.com/content/public/Literature/Documents/ent-1154.pdf
Constructing a client-suitable portfolio – a Holistic Perspective
Collect Inputs
Determine Asset Allocations
Human Capital
Traditional Funds, ETFs
Financial Capital
and Current Savings
Life Insurance/Annuities
Advisory Process Best Practices
Portfolio
Market
Alerts
Monitoring
Trade
Investment
Management
Research
Client
Advisor
Workstation
Management
Acceptance
Proposed
Portfolio
Client
Current
Portfolio
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Client
Profiling
Market Monitoring
Stay abreast of market news and prices.
17 For Internal Use Only
Investment Research
Provide insight on any investment in the market.
18 For Internal Use Only
Client Management
Efficiently manage client information and communication.
19 For Internal Use Only
Client Profiling
Understand investor risk tolerance and savings goals.
20 For Internal Use Only
Current/Proposed Portfolio
Match recommendations to client risk profiles.
21 For Internal Use Only
X-ray- Risico’s (correlatie en statistieken van de portfolio)
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Quality Advisors have insight beyond retail understanding
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Morningstar X-ray increases full portfolio understanding – better Asset Allocation
Actual Allocation
Portfolio 1
Portfolio 2
Portfolio 3
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Quality Advisors have insight beyond retail understanding
Due diligence research, full portfolio understanding, Better Selection for Goal oriented advise
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Style on Fund level
Style on a Holdings level
Fund A
Fund B
RETAIL VIEW
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ADVISOR VIEW
Client Proposal and Acceptance
Generate clear and compelling investment proposals.
25 For Internal Use Only
Trade Management
Easily pass information to trade management systems for execution.
26 For Internal Use Only
Portfolio Monitoring and Alerts
Receive timely portfolio alerts in order to proactively communicate with investors.
27 For Internal Use Only
Advisor Workstation Firm Customizations
× Approved product lists and screens
× Proprietary document and news publishing
× RiskRisk-based strategic asset allocation models
× Model portfolios
× Report and proposal customizations via Principal ?
× Generic platform via BZB?
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Stakeholders and Supporting Solutions
Proposals
Research Reports
Articles/Videos
Alerts
Investor
Financial Advisor
CRM Details
Client Portfolio Positions
Home Office News
Approved Product List
Model Portfolios
Research Reports
Account Forms
Principaal
Client
Portfolio
Advisor
Workstation
Morningstar.be
Inquiries
Consent
Point-of-Sale becomes Point-of-Service
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CRM
Trade Instructions
Proposal Archive
Form Archive
Productivity Metrics
Product Metrics
Risk Metrics
Order
Management
Summary
×WebWeb-based application that supports pointpoint-ofof- sale and client servicing
×Can be customized and integrated into existing sales processes
×Guided path for approved product lists and riskrisk-based model portfolios
×Ready source for quantitative and qualitative research
×Usage tracking and governance/compliance monitoring
×Supports feefee- and commissioncommission-based business models
×Answers compliance and regulatory needs for advisors and institutions
×What do you need ?
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If the investor wins, we all win.
Client references
× Pioneer Funds Advisors: A Crucial System
Together with our CRM system, Advisor Workstation is the most used system in our
office—it’s the first thing our advisors check in the morning. They use it to read factsheets
and calculations, follow client investments, test potential clients' existing portfolios,
evaluate the sub-funds in the portfolios, and explore client portfolio changes based on
client needs and risk tolerance. The Fund Comparison module is an important aspect of
this, because generally advisors tend to only focus on the return side of the equation--most
of them forget that the most important thing is the risk side. Advisor Workstation shows
them both the returns and the risk, and that's an eye-opener.
× Nedgroup Investments: AWS helps us grow the business
The solution includes product research for the whole of market, available for sale investment list
and also a Portfolio X-Ray tool for ongoing portfolio construction and monitoring. Used by tied
and affiliated financial advisers, enabling them to adhere to regulatory requirements.
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