Morningstar Investment Services Selects Fiserv Technology for Managed Account Platform
Fiserv technology will enhance the Morningstar Investment Services
platform with robust new trade management, reporting and investment
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today that Morningstar Investment
Services has selected its managed account technology to support
Morningstar Managed PortfoliosSM, a fee-based discretionary
investment management program offered exclusively through registered
The managed account technology from Fiserv is designed to enhance trade
management, enable more robust portfolio accounting and performance
reporting, and broaden the range of custodians through which Morningstar
Investment Services can submit trades. Morningstar Investment Services
chose Fiserv as the platform to enable them to add unified managed
account (UMA) and rep as portfolio manager (RPM) capabilities in the
future. The UMA functionality will allow advisors to combine a broad
range of investment types into a single client portfolio, streamlining
trading, reporting and research. The RPM technology will allow advisors
to manage client accounts more nimbly to implement tactical decisions
quickly and easily.
"The exceptional scalability and functionality of the managed account
technology from Fiserv will make it easier for financial advisors to
offer their clients investment solutions tailored to their evolving
financial needs," said Jeffrey Ptak, President and Chief Investment
Officer, Morningstar Investment Services. "Fiserv's depth and breadth of
expertise in the managed accounts space was a critical component of our
decision to work with the firm to further enhance our platform."
"For Morningstar, a company that is deeply respected for
developing its own innovative technology solutions, to choose our
managed account technology is truly an honor," said Cheryl Nash,
president of Investment Services at Fiserv. "Working with
forward-thinking companies such as Morningstar helps us create more
innovative products to benefit the entire financial advice industry."
With close to 4 million accounts on its managed account platform, Fiserv
is the leading technology provider, helping clients navigate highly
complex operational challenges and improve performance and
profitability. The managed account technology from Fiserv allows program
sponsors to offer their clients a wide variety of investment options
within a single, unified platform and provide the necessary tools for
successful overlay management.
About Morningstar Investment Services
Morningstar Investment Services, Inc. is a registered investment advisor
and a wholly owned subsidiary of Morningstar, Inc. (NASDAQ: MORN).
Morningstar Investment Services offers Morningstar Managed Portfolios, a
turnkey, fee-based discretionary investment management program developed
for financial advisors and their clients who are citizens or legal
residents of the United States or its territories. Morningstar
Investment Services, along with Morningstar's other investment advisory
subsidiaries, comprise the Morningstar Investment Management division.
This division provides independent investment management and consulting
services to institutions and advisors and has approximately $167 billion
in assets under advisement and management as of Sept. 30, 2011. For more
information about Morningstar Investment Services, please visit: www.mp.morningstar.com.
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider
serving the financial services industry. Fiserv is driving innovation in
payments, processing services, risk and compliance, customer and channel
management, and business insights and optimization. For six of the past
eight years, Fiserv ranked No. 1 on the FinTech 100, an annual
international listing of the top technology providers to the financial
services industry. For more information, visit www.fiserv.com.
Senior PR Manager
Director, Public Relations
Source: Fiserv, Inc.
News Provided by Acquire Media
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