Accounting and Financial Software
Morningstar Investment Services Selects Fiserv Technology for Managed Account Platform
Fiserv technology will enhance the Morningstar Investment Services platform with robust new trade management, reporting and investment management capabilities
Brookfield, Wis., December 16, 2011 - Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Morningstar Investment Services has selected its managed account technology to support Morningstar Managed PortfoliosSM, a fee-based discretionary investment management program offered exclusively through registered investment advisors.
The managed account technology from Fiserv is designed to enhance trade management, enable more robust portfolio accounting and performance reporting, and broaden the range of custodians through which Morningstar Investment Services can submit trades. Morningstar Investment Services chose Fiserv as the platform to enable them to add unified managed account (UMA) and rep as portfolio manager (RPM) capabilities in the future. The UMA functionality will allow advisors to combine a broad range of investment types into a single client portfolio, streamlining trading, reporting and research. The RPM technology will allow advisors to manage client accounts more nimbly to implement tactical decisions quickly and easily.
"The exceptional scalability and functionality of the managed account technology from Fiserv will make it easier for financial advisors to offer their clients investment solutions tailored to their evolving financial needs," said Jeffrey Ptak, President and Chief Investment Officer, Morningstar Investment Services. "Fiserv's depth and breadth of expertise in the managed accounts space was a critical component of our decision to work with the firm to further enhance our platform."
"For Morningstar, a company that is deeply respected for developing its own innovative technology solutions, to choose our managed account technology is truly an honor," said Cheryl Nash, president of Investment Services at Fiserv. "Working with forward-thinking companies such as Morningstar helps us create more innovative products to benefit the entire financial advice industry."
With close to 4 million accounts on its managed account platform, Fiserv is the leading technology provider, helping clients navigate highly complex operational challenges and improve performance and profitability. The managed account technology from Fiserv allows program sponsors to offer their clients a wide variety of investment options within a single, unified platform and provide the necessary tools for successful overlay management.
Additional Resources:
o Morningstar Investment Services - global.morningstar.com/mis
o Investment Services at Fiserv - www.fiserv.com/sol_investment.htm
o Unified Managed Account platform from Fiserv - http://bit.ly/tEBDXd
About Morningstar Investment Services
Morningstar Investment Services, Inc. is a registered investment advisor and a wholly owned subsidiary of Morningstar, Inc. (NASDAQ: MORN). Morningstar Investment Services offers Morningstar Managed Portfolios, a turnkey, fee-based discretionary investment management program developed for financial advisors and their clients who are citizens or legal residents of the United States or its territories. Morningstar Investment Services, along with Morningstar's other investment advisory subsidiaries, comprise the Morningstar Investment Management division. This division provides independent investment management and consulting services to institutions and advisors and has approximately $167 billion in assets under advisement and management as of Sept. 30, 2011. For more information about Morningstar Investment Services, please visit: www.mp.morningstar.com.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry. Fiserv is driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For six of the past eight years, Fiserv ranked No. 1 on the FinTech 100, an annual international listing of the top technology providers to the financial services industry. For more information, visit www.fiserv.com.
For more information contact:
Media Relations:
Julie Nixon
Senior PR Manager
Fiserv, Inc.
+1 678-375-3744
julie.nixon@fiserv.com
Additional Contact:
Wade Coleman
Director, Public Relations
Fiserv, Inc.
+1 678-375-1210
wade.coleman@fiserv.com
