Marks 100th Client for Advisor Workstation Enterprise Edition
CHICAGO, Nov. 3, 2005 – Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today announced that Piper Jaffray & Co. has selected Morningstar®Advisor WorkstationSM Enterprise Edition, a Web-based investment planning system, for its financial advisors. This agreement marks Morningstar’s 100th institutional Workstation client in the United States.
Piper Jaffray is licensing a customized version of the entire Enterprise Edition platform, which includes four modules – Clients & Portfolios, Research, Sales/Hypotheticals, and Planning. Through these integrated modules, the firm’s financial advisors now have access to portfolio analysis and construction tools, investment research, and client reports.
“Advisor Workstation can serve as the cornerstone of a firm’s investment-planning technology while providing the flexibility to allow each organization to tailor the system for the unique needs of its advisors,” said Chris Boruff, president of Morningstar’s advisor business. “Reaching the 100th client milestone demonstrates that our set of tools can support a variety of financial advisors with different needs and business models.”
Morningstar Advisor Workstation Enterprise Edition debuted in 2001 when Merrill Lynch Investment Managers licensed key components of the platform. Today, more than 100,000 advisors at 100 financial institutions have access to the tools. Morningstar plans to add new tool sets and functionality to its offerings for advisors through its developing product lines such as Morningstar® Advisor Compliance Tools, specialized Variable Annuity Tools, and a Retirement Income Planning application.
Advisor Workstation Enterprise Edition clients include Ameriprise Financial (formerly American Express Financial Advisors); AG Edwards; AXA Advisors, LLC; Nationwide Financial Services, Inc.; TD Waterhouse Investor Services, Inc.; and RBC Dain Rauscher Inc.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of investment research in the United States and in major international markets. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutional clients. Morningstar provides data on more than 125,000 investment offerings, including stocks, mutual funds, and similar vehicles. The company has operations in 16 countries.
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.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements. These statements relate to future events or to future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue” or the negative of these terms or other comparable terminology. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond our control and that could materially affect actual results, levels of activity, performance, or achievements.
Other factors that could materially affect actual results, levels of activity, performance or achievements can be found in Morningstar’s filings with the Securities and Exchange Commission, including Morningstar’s Prospectus filed on May 4, 2005. If any of these risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may vary significantly from what we projected. Any forward-looking statement you read in this press release reflects our current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to our operations, results of operations, growth strategy, and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, whether as a result of new information, future events, or otherwise.
# # #
©2005 Morningstar Inc. All rights reserved.