CHICAGO, Oct. 14 /PRNewswire/ -- Morningstar, Inc.
(Nasdaq: MORN), a leading provider of independent investment
research, has launched Morningstar® Portfolio Management Services,
a new enterprise portfolio management and performance reporting
service for broker-dealers. PFS Investments Inc., the investments
branch of Primerica (NYSE: PRI), a leading financial services
company providing an array of financial services to the
middle-income market, is Morningstar's first client to deploy this
new solution enterprise-wide to its 22,000 representatives.
Morningstar is providing PFS Investments' registered
representatives with back-office and data aggregation services, as
well as a custom-designed web application that allows for intuitive
sorting and evaluation of client account and performance
information. Morningstar Portfolio Management Services allows firms
to completely outsource their data aggregation and reconciliation
processes for consolidating client account data from a variety of
custodians, clearing firms, and other investment product providers,
such as insurance companies and asset management firms. Advisors
can more quickly evaluate accounts, at both the individual client
and firm level, and create in-depth, client-friendly reports that
combine account performance data with Morningstar
analytics—including the Morningstar Style Box™ and the Morningstar®
Portfolio Snapshot™. Home office and supervisory personnel
also can organize and analyze account data and activity by
different representative groups, coverage areas, or
geographies.
"We've built our internal expertise in portfolio accounting and
performance reporting in the independent advisory segment over the
past four years. We've also upgraded and scaled our technology
infrastructure to handle high-volume processing during this time,"
said Chris Boruff, president of
Morningstar's software division. "We're excited to extend our
capability into the enterprise space with PFS Investments and its
network of representatives, along with several other broker-dealer
clients who are also implementing the new service."
Morningstar individually consults with each firm to understand
its data and business. It then develops a plan to aggregate,
warehouse, and distribute data to and from multiple sources across
an organization. The aggregated data flows into the Portfolio
Management Services application, but is also available for other
internal applications or analyses. Implementation is modular,
giving investment firms maximum flexibility to adjust their
services as needed.
"Morningstar has unique tools and capabilities to help process
and aggregate our clients' account data in a meaningful and clear
way," said Bill Kelly, president of
PFS Investments. "Our representatives are leveraging Morningstar's
analytics and design expertise through Portfolio Management
Services, helping them to provide accurate data, insightful
analysis, and comprehensive reports for our investor clients. At
the home office level, we're also gaining better insight into our
reps' activity and production. We have a solid history with
Morningstar in co-developing new capabilities, and our registered
reps are pleased to benefit from this innovation."
For more information, please visit
http://global.morningstar.com/portfoliomanagementservices.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent
investment research in North
America, Europe,
Australia, and Asia. The company offers an extensive line of
Internet, software, and print-based products and services for
individuals, financial advisors, and institutions. Morningstar
provides data on approximately 360,000 investment offerings,
including stocks, mutual funds, and similar vehicles, along with
real-time global market data on more than 4 million equities,
indexes, futures, options, commodities, and precious metals, in
addition to foreign exchange and Treasury markets. The company has
operations in 21 countries.
About Primerica, Inc. and PFS Investments
Primerica, Inc. (NYSE: PRI), headquartered in Duluth, Ga., is the largest independent
financial services marketing company in North America, with approximately 100,000
licensed sales representatives. Primerica representatives assist
their clients in meeting their needs for term life insurance,
underwritten by the company's subsidiaries, and mutual funds,
variable annuities and other financial products that are provided
through third parties. The Primerica distribution model uniquely
positions the company to reach the underserved middle-income market
in a cost-effective manner. The company's subsidiaries today insure
more than 4.3 million lives and more than 2 million clients
maintain investment accounts with PFS Investments Inc.
Media Contact:
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Shawn Malayter,
312.696.6050, shawn.malayter@morningstar.com
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SOURCE Morningstar, Inc.
Copyright . 14 PR Newswire