New data tool for managed portfolios
Morningstar has launched a managed portfolio database, which it said is the first independently collected, ‘whole of market’ comparable dataset of UK managed portfolios.
THE BRIEF:
In the spring of 2022, we were approached by the Director of Business Analysis and the Head of Advisor Solutions for Morningstar, as we had been recommended by another client in the financial sector.
We had not worked with Morningstar directly before, but had integrated their data tools via APIs for a number of our financial clients websites so we were familiar with their products.
They wanted to create a brand new product for the financial advisor market, which would be the first independently collected, ‘whole of market’ comparable dataset of UK managed portfolios.
THE PROJECT:
Moore-Wilson were appointed by Morningstar to carry out this exciting and challenging project.
Timescales were tight, we only had a few months until they wanted to offer this new product to the market.
We worked closely and intensely with the client to quickly specify and wireframe the solution, at the same time going through their compliance and infosec screenings. We agreed on the schedule and various milestones that we both had to meet in order to deliver this on time.
Once we had a good understanding of the data and what Morningstar wanted to offer their clients, we produced a proof of concept, which demonstrated that the tool would be able to meet the requirements.
At this point, we started the development phase and we had weekly progress meetings with the client to ensure that we stayed on course and could quickly resolve any issues or queries.
Really excited about this development. It will be a huge game-changer for the model portfolio industry in the UK. I can't wait to start working with it!
"THE RESULT:
UK Managed Portfolio Database is the first independently collected market database of UK managed portfolios. It makes available a wide range of data points for nearly 900 managed portfolios, at the time of writing.
The tool is interactive, fast and available through the Morningstar website.
Bella Caridade-Ferreria, CEO at Fundscape tweeted: "Really excited about this development. It will be a huge game-changer for the model portfolio industry in the UK. I can't wait to start working with it!
Well done to you, and team who have done a great job building this fab adviser tool that will blow any competitors out of the water!"
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