Review Detail
Overall rating
3.8
Company
5.0
Technology Support
3.0
Reconcilliation
5.0
Financial Institution Interfaces
4.0
Reports
5.0
Fixed Income
5.0
Tax Lot Accounting
5.0
Trading
3.0
Integrations
2.0
Security
5.0
Hosting
2.0
Pricing
1.0
A Better Mousetrap
The only thing I missed putting above is the ongoing effort of MS to create a robust financial planning tool integrated into the Advisor Workstation. The current tool is woefully inadequate and seems to be a placeholder while they either build up or buy the tool they want to intergrate.(MGP maybe?)
It is important to note that I am reviewing the Advisor Workstation, not the Enterprise workstation that many broker dealers rollout to their advisors. this is the real deal at $5,000 for the complete station and an additional monthly fee for the (dbcams) back office service. This complete system will set you back at least $12,000 a year. It's worth every penny and makes the reconcillation challenged Allbridge System look weak by comparison.
User Review
The Good
Solid Morninstar product with integration of analysis/research, back office reconciliation, reporting, billing and presentation.
Back office staff first rate and extremely helpful.
Video Tutorials are excellent. Webinar tutorials are frequently scheduled.
Back office staff first rate and extremely helpful.
Video Tutorials are excellent. Webinar tutorials are frequently scheduled.
The Bad
A constant work in progress when you do run into a technical problem. Not as easy to find out why something goes wrong when it does. Online Help files are not helpful. Reports are scattered throughout the program in no particular organizational scheme and are often duplicative. This is my biggest complaint: It took me several months to figure out where the reports I wanted are located
The Bottom Line
Although this is a work in progress and there are some real bone headed and obvious problems with the logical organization of this program, it is without a doubt the long looked for "Holy Grail" for advisors wanting an integrated research,back office reconcilling , reporting and presentation program. Combined with MS graphics, one can present to a client a MS snapshot of their actual portfolio, a portfolio performance report, extremely flexible billing statement, and detailed analysis of that portfolio
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