Morningstar Data+Analytics
How United Advisors America Wins New Clients With Advisor Workstation
I can show the weaknesses of a prospect’s current portfolio and present how our research benefits the client.
The Challenge
Today’s clients demand more than returns from their financial advisors. In one survey, investors said they valued advisors with:
Expertise and knowledge in investments.
Personalized financial advice for their specific goals and needs.
Ability to understand their risk tolerance and align investments to that level.
Financial advisor Craig Canton has always prized the personal touch. Through United Advisors America, he works with advisors to tailor recommendations for each client.
To attract new clients, Craig needed a way to prove he would meet the exacting standards of prospects and regulators alike.
The Solution
Craig and United Advisors America use Advisor Workstation to win over prospective clients.
In the platform, Craig can highlight weaknesses in a prospect’s portfolio and show the benefits of his research-backed approach. Morningstar customized the solution to include the firm’s compliance requirements in daily workflows.
We don’t use any other solutions because Advisor Workstation has the data we need, and Morningstar carries the trusted reputation in the industry.
Stand-Out Portfolio Snapshots
Craig uses chart-rich reports to illustrate how his investment recommendations add value. In Advisor Workstation, he can choose from 30-plus FINRA-reviewed templates.
The Portfolio X-Ray report shows detailed information on portfolio holdings. It shows diversification across asset classes, stock sectors, investment styles, and more.
The Risk/Reward Scatterplot compares portfolio holdings based on risk and return statistics.
Hypotheticals and Scenarios That Build Trust
In Advisor Workstation, Craig shows clients how portfolios have performed under a range of market conditions and shares both gross and net of fees analysis in an interactive analysis tool and client-facing reports. This helps clients understand performance of proposed investments over time.
This is made possible through Advisor Workstation’s customizable approach, which is designed in a way that helps firms align the tool with their policies and procedures for regulatory requirements regarding performance.
Advisor Workstation has an abundance of accurate and helpful information available for sales and portfolio design.
Making Best-Interest Recommendations
Fiduciaries like United Advisors America are legally required to place client interests ahead of their own. Recently the Department of Labor enhanced fiduciary standards for retirement guidance, one of the firm’s focuses. Advisors must ensure that account rollovers align with the investors’ best interests.
With the objective data in Advisor Workstation, Craig says he has a springboard to “provide accurate insight and beneficial solutions for their specific situation.
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Investment detail reports show performance, composition, fee and expense, and risk information.&;
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The Morningstar Rating for Funds, or the “star” rating, assesses a fund’s performance compared to peers on a risk-adjusted basis after fees.
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Forward-looking Medalist Ratings indicate investments that Morningstar believes could possibly outperform a relevant index or peer group average on a risk-adjusted basis over time.
United Advisors America has not received any cash or non-cash compensation from Morningstar, directly or indirectly, in exchange for this client success story.