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| | | | Randy Carver | | Registered Principal
Raymond James Financial Services
Mentor, Ohio | | | Randy Carver is president of Carver Financial Services, Inc. and a registered investment advisor who offers securities exclusively through Raymond James Financial Services, Inc., which is a member of NASD and SIPC. Carver Financial Services was founded in 1990. |
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| | | | Raymond James Financial Services |
Assembling a modular database
I’ve used Morningstar® Principia® for 10 years now. We have three full subscriptions, one for me and two for our staff members. We started with the mutual funds module, then added the variable annuities/life, closed-end, and finally, the stocks modules. I get monthly updates for all modules. One of the biggest benefits of Principia is that it combines all of the databases so I can work on integrated portfolios.
Relying on Principia for a complete perspective
I use Principia reports in virtually every client review. I find the Snapshot and the overall allocation of the portfolio components the most useful features, allowing me to quickly and easily determine how investments are allocated. | | From the construction standpoint, I can put together portfolios and make sure they are balanced according to a client’s needs. From a marketing standpoint, when working with a prospect, I can actually show them that we have a system in place that brings everything together.
Showing clients new strategies
Some clients access Morningstar online and get good information, but those same people have never combined their investments and looked at them as an overall portfolio. Do-it-yourselfers come in—sometimes with half a million to a million dollars in investments—yet have no idea how biased their portfolios are, for example, toward large-cap stocks. When we give them a presentation that shows all of their information in one place, and the Morningstar brand name along with it, we generally get the business. | |  | | | | Principia is the best piece of reporting software in our office. It is critical for client communications and reporting. It’s easy to use, yet very detailed. I can show clients things they have never seen before—it always gets their attention. | | |
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