Power your financial advice business with AdviserLogic and Sharesight

Morningstar  |   22nd Mar 2023 | 5 min read

Morningstar AdviserLogic and Sharesight have joined forces to help financial advisers power their business with comprehensive tax and performance reporting, research tools, CRM and much more. Connected via the AdviserLogic API, Morningstar AdviserLogic and Sharesight have come together to create a great solution for advisers who want to save time, automate their practice, and build better relationships with their clients.

What is Morningstar AdviserLogic?

Morningstar AdviserLogic is a financial planning software that empowers your advice business with modern, easy to use, time-saving features. With the acquisition of AdviserLogic in 2019, Morningstar has invested significantly in delivering a technology solution capable of meeting changing client expectations, evolving regulatory environments, as well as integrating with existing systems to help you achieve your practice goals. Morningstar’s financial planning and practice management software, AdviserLogic, brings together the tools to help run your business — CRM, risk profiling, research tools, projection modelling, document generation, and compliance — in one powerful solution.

Why has Morningstar AdviserLogic connected to Sharesight?

At Morningstar AdviserLogic, our goal is to simplify financial planning for our advice community by providing modern, secure, easy to use features for goals based financial planning. However, we’ve noticed that many advisers still struggle with managing corporate actions for their clients. Client portfolios can be inaccurate if off-market transactions are not automatically picked up by data feeds. There's no denying that dividend management without a platform can be time-consuming and stressful for advisers. By integrating Morningstar AdviserLogic to Sharesight, advisers can keep a close eye on their clients' portfolios to offer proactive timely investment advice and performance updates. “We are excited about the capabilities this strategic alliance will bring to our advisers,” says Ivon Gower, Director of Financial Planning Products, AU/NZ, Morningstar. “When it comes to corporate action processing, accuracy and efficiency are key to supporting advisers to manage off platform holdings. We saw Sharesight’s investment management capabilities as an ideal solution.”

Why financial advisers should connect Morningstar AdviserLogic and Sharesight

  • Simplify portfolio admin: Imagine client portfolios that are always up-to-date with the latest trade, currency, and corporate action data. Use your new-found time to grow your practice and strengthen your client relationships.
  • Focus on your clients, not your technology: As pre-built strategies, research and portfolio analysis, comprehensive tax and performance reporting are all taken care of, you'll have more time for client-care activities such as forward-looking investment conversations, optimising long-term goals and delivering ongoing peace of mind.
  • Effortless setup with automatic updates: Investment balances are all imported in just a few clicks. Sit back and watch as share prices, currency effects and corporate actions such as dividends, DRPs and share splits are automatically incorporated in Morningstar AdviserLogic.
"We are excited to launch this unique alliance with Morningstar AdviserLogic,” says Doug Morris, Sharesight CEO. “With the rise of the retail investor, enabling financial advisers to track their clients’ off-platform assets is now more important than ever. One of the great benefits of Morningstar AdviserLogic’s integration with Sharesight is that it allows advisers to inform clients of corporate actions such as dividends, stock splits, mergers and acquisitions. This is especially vital considering advisers can be subject to regulatory fines if they fail to inform clients on these matters.” A second phase of the integration is already underway. Once completed, financial advisers will be able to generate Morningstar AdviserLogic reports enriched with Sharesight transactional data.

How to connect Morningstar AdviserLogic and Sharesight

The two systems will be connected via an API. As an adviser, you'll obtain a unique API access token when you select Sharesight from the Datafeeds dropdown menu in Morningstar AdviserLogic. Your client portfolio will then be transferred from Sharesight to Morningstar AdviserLogic and kept up-to-date with the overnight datafeed.

Get started with Morningstar AdviserLogic and Sharesight

If you’re not already using Morningstar AdviserLogic, request a free demo today to trial financial planning software that can empower your advice business with modern, easy-to-use, time-saving features. Existing Morningstar AdviserLogic customers get 90 days free trial when you sign up and connect before 30th April 2023. Simply get in touch with the team at Morningstar AdviserLogic to take advantage of this special launch offer.

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