Morningstar has launched a broker-dealer platform on its advisor Web site that allows users to compare the products and services offered by participating broker-dealers.

The platform, MorningstarAdvisor.com, is designed to help financial advisors research and evaluate broker-dealers, the company said. By using the site, advisors can compare broker-dealers "side by side to see which is the best fit," said Chris Boruff, president of MorningstarÂ’s Advisor business unit.

According to the company, each participating broker-dealer must complete a questionnaire requesting information on its background, investment products, services, technology, production and compensation.

FSC Securities, LPL Financial, Raymond James Financial Services, Royal Alliance Associates, Sentra/Spelman, and Sun America Securities are among the initial broker-dealers to participate.

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