|President and Chief Investment Officer|
Rosetta Financial Advisors
Saint Louis, Missouri
|Rosetta Financial Advisors is an independent wealth management firm affiliated with Cambridge Investment Research, Inc. |
|Rosetta Financial Advisors |
|Power your practice|
Lance Turner has a long history with Morningstar, going back to its mutual fund binder, which he used in his first job in the industry. Today, Morningstar® Advisor Workstation plays a big role in his investment research efforts—and the quarterly reviews Lance conducts with each client. He explains, “Morningstar is a critical, integral part of what we
do for clients, not only behind the scenes but in the communication to our clients.”
Data input can be a time drag on any practice, so Lance takes full advantage of Advisor Workstation’s ability to import directly from Albridge® Solutions. Lance also appreciates how Advisor Workstation streamlines his work process.
As he puts it, “I think it says quite a bit that we don’t need an administrative assistant to spend hours and hours putting together portfolio analysis, client communications, or prospect proposals.”
|Turn prospects into clients|
Advisor Workstation helps Lance gain insight into the weakness of a current portfolio and easily communicate his findings. He remembers one potential client who misunderstood diversification: “He thought he owned a diversified portfolio of mutual funds because he had seven funds. When I looked at a Portfolio Snapshot Report, it was 80% large cap growth. That was why the result had been so poor. I was able to recommend a portfolio that had better balance among large, mid, and small cap, growth and value, and domestic and international.” That prospect is now a client.
Increase client trust
The name and reputation of Morningstar are also very helpful to Lance’s practice. “Most individuals that we run across are familiar with Morningstar to some degree,” he says. “They seem to know that, for independent research, Morningstar is the place to go.
|I think it lends credibility—it’s a name that people know and respect. It helps our business.”|