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CHICAGO - Morningstar , Inc. (NASDAQ:MORN) has announced a strategic partnership with SS&C Technologies, Inc., marking a significant integration of Morningstar’s Direct Advisory Suite with SS&C’s Black Diamond (NASDAQ:CLAR) Wealth Platform. This collaboration introduces Morningstar’s comprehensive investment data and research tools into the Black Diamond platform, establishing a first-of-its-kind offering in the wealth management technology space.
The Direct Advisory Suite, a new application built on Morningstar’s Direct Platform, provides advanced investment planning and reporting capabilities, designed to enhance advisor productivity and client engagement. The suite is an evolution of the Advisor Workstation, which currently supports over 175,000 advisors. With the company’s consistent dividend growth of 21.3% and a track record of maintaining dividend payments for 16 consecutive years, as revealed by InvestingPro, Morningstar demonstrates strong financial stability and shareholder commitment. The integration will enable advisors on the Black Diamond Wealth Platform, which serves approximately 2,700 wealth management firms, to access Morningstar’s portfolio analytics and research tools directly within their existing workflows.
Steve Leivent, co-head of SS&C’s Wealth & Investment Technologies, emphasized the seamless integration of Morningstar’s data and analytics with client workflows on the Black Diamond Wealth Platform. Kunal Kapoor, CEO of Morningstar, highlighted the company’s commitment to empowering advisors and investor success through content, technology, and strategic partnerships.
As part of the transition, Morningstar will retire its Morningstar Office product, facilitating a customized migration process for advisors to the Black Diamond platform. With the company’s upcoming earnings report scheduled for February 26, 2025, InvestingPro subscribers can access detailed financial analysis and additional insights about Morningstar’s strategic initiatives and growth prospects. This shift aims to offer advisors a connected experience with access to Morningstar’s latest research and analytics, alongside Black Diamond’s features such as an interactive client portal, comprehensive reporting, and compliance workflows.
The integration is expected to provide a robust, feature-rich platform for wealth management, combining Morningstar’s research and analytics expertise with Black Diamond’s award-winning portfolio management technology. The partnership is based on a shared goal to enhance advisor capabilities and client satisfaction through innovative technology solutions.
This announcement is based on a press release statement and includes forward-looking statements that involve known and unknown risks and uncertainties. The success of the strategic alliance and the retirement of Morningstar Office are subject to various factors, which may differ from current expectations. The information provided does not imply any endorsement of claims by Morningstar or SS&C Technologies.
In other recent news, Morningstar, Inc. has made some significant disclosures and changes. The company has released responses to investor queries in a recent filing with the Securities and Exchange Commission (SEC) and announced the appointment of a new Chief Financial Officer (CFO).
The investor Q&A, now publicly available, is part of Morningstar’s transparent corporate communication strategy. The company also included cautionary language regarding forward-looking statements contained within the report, outlining expectations for future events and financial performance, as well as potential risks and uncertainties.
In terms of personnel changes, Michael Holt will assume the role of CFO starting January 1, 2025. Holt, who has been with Morningstar since 2008, will succeed Jason Dubinsky, who is transitioning to a consulting role. Holt’s new responsibilities will include leading Morningstar’s global finance organization and reporting to Chief Executive Officer Kunal Kapoor.
These are recent developments in the company’s trajectory, highlighting its commitment to transparency and strategic leadership changes. Investors and interested parties are advised to review additional disclosures and updates provided by Morningstar in its periodic filings with the SEC to stay informed about the company’s risk factors and business outlook.
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