Morningstar Advisor Workstation vs. Orion Practice Management System

If a client is shy about investing or wants portfolio comparisons, Morningstar really hits the mark. Being able to show real-time data is great for putting a client's mind at ease. The downside to this product is, that if a client isn’t as financially literate, it takes some explaining to show them what’s going on, and they can get lost in all of the data.

Incentivized

Orion is a great information organizer. It can be used as a CRM for your company as well as a performance tracker. The CRM functions are minimal but do hold pertinent client information. You are able to see real-time performance data, and there is even a client-facing portal if your clients would like to see their performance. While Orion might be hard to figure out, it's a wealth of information and worth figuring out the best case use for your firm.

Incentivized

• Amazing Comparisons
• Easy to read charts
• Diverse database

Incentivized

• Billing
• Synchs well with other programs
• Contains massive contact list
• Keeps up with client payments by user

Incentivized

• Ease of use
• Data sync
• Bond Database can be lacking

Incentivized

• Report building could use improvement.
• Report finding and help is hard.
• Cleaner menu dropdown lists.

Incentivized

It is a complex system and difficult to onboard and figure out, BUT once you've got the hang of it, it is a great tool for your company and for your clients. The help desk is responsive and knowledgeable, and does a great job sticking with you through onboarding. There are a lot of options within Orion that can feel overwhelming, but again, the help desk is fantastic.

Incentivized

In terms of diversity, Morningstar is the best on the market. The way they display data, and since many financial institutions use this software, it is easy to show clients how their money is doing outside of our institution. Also allows us to show portentously clients in-depth comparisons of different investment strategies.

Incentivized

• Gets Clients to Move their money to us
• Let’s you track portfolio performance to a variety of benchmarks
• The historical data is great

Incentivized

• Provides accurate billing information for submission to clients for payments
• Ability to run financial reports
• Contact database is ongoing with new entries and updated information

Incentivized