Morningstar debuted what it calls the industrys first separate accounts database for financial advisers today at its annual investment conference in Chicago.
- The product, called Morningstar Principia for Separate Accounts, will be available to advisers in August at a cost of $1,095 per year or $795 for those who order it by July 31.
Morningstar said the product is designed to "bring order and uniformity to separate account information," making it possible for advisers to search and compare individual separate accounts or several of the vehicles at once. In addition, Morningstar said the product allows advisers to analyze a clients entire portfolio, including information about mutual funds, individual stocks and annuities.
The database includes data from nearly 500 money management firms and 1,800 separate accounts, Morningstar said. It will eventually include information about 1,800 products from more than 1,000 firms.