Morningstar and Total Rebalance Expert have announced an integration deal that allows advisors to automatically import their portfolio data from Morningstar Office, a global practice and portfolio management platform into the TRX platform to streamline the rebalancing process.
The integration features the ability to import accounts, positions, securities and classifications, as well as transactions and tax lot data from Morningstar Office via a single-click process. More than 3,700 advisors use Morningstar Office, a platform that features performance reporting, investment research, planning tools and basic CRM capabilities.
Regular portfolio rebalancing is becoming more important for advisors as they respond to today’s more volatile markets”, said Sheryl Rowling, CEO of Total Rebalance Expert. With the potential of higher tax rates next year, automated portfolio rebalancing technology enables advisors to aggregate information, identify market opportunities and maximize tax efficiency. Our integration with Morningstar Office will help advisory firms rebalance quickly and easily with high quality data.”
This latest integration, following on the heels of other rebalancing integrations, confirms that Morningstar has abandoned plans to build their own sophisticated rebalancing capabilities. “Currently, we are not focused on building a tax-aware rebalancing tool, although we don’t rule out the possibility of developing one in the future”, said Michael Wilson, vice president of advisor software at Morningstar.