Majority Use Morningstar’s Financial Planning Software, Investment Data

CHICAGO, Feb 11, 2004 – Morningstar, Inc. is the No. 1 source for financial planning technology and investment data among financial advisors, according to a recent survey from research-based consulting firm Tiburon Strategic Advisors (www.tiburonadvisors.com).

According to Tiburon, the survey reveals that among product and service providers who work with independent financial advisors, “Morningstar has a hugely dominant position, earning high utilization and satisfaction scores” in multiple categories.  Results show that 67 percent of 1,476 financial advisors surveyed use Morningstar’s investment research and data, 61 percent use the firm’s financial planning software, and 42 percent use its asset allocation software.  No other provider achieved majority market penetration in as many categories.

Tiburon conducted the study, titled “A Comprehensive Overview of the Product Usage, Business Models, and Best Practices of Independent Reps,” through IndependentRepBestPractices, (www.IndependentRepBestPractices.com), its business analysis tool for independent representatives. 

"We’re thrilled to receive such an enthusiastic endorsement from the industry through Tiburon’s objective study of independent financial advisors," said Chris Boruff, president of Morningstar’s advisor business.  "Advisors have relied on Morningstar for nearly two decades, and we continue to respond to their changing needs by enhancing our offerings."

Morningstar offers a number of applications for financial advisors, including Morningstar^Ò Advisor Workstation^SM, an online investment planning system; Morningstar ^Ò Principia^Ò, an investment research and management software program; and Morningstar^Ò 529 Advisor^SM, a suite of 529 plan tools that helps financial advisors select and recommend the best college-savings plan for their clients. 

About Morningstar
Chicago-based Morningstar, Inc. is a global investment research firm, offering an extensive line of print, software, and Internet-based products and services for individuals, financial advisors, and institutions.  The company is a trusted source for investment information, data, and analysis of stocks, mutual funds, separate accounts, exchange-traded funds, 529 Plans, closed-end funds, and variable annuity/life subaccounts.

Morningstar Advisor Workstation’s investment advice tools are provided by Morningstar Associates, LLC, a registered investment advisor and a wholly owned subsidiary of Morningstar, Inc.