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Morningstar chooses Fiserv technology to support managed portfolios

Morningstar Investment Services has selected Fiserv's managed account technology to support its Managed Portfolios, a fee-based discretionary investment management program offered exclusively through registered investment advisors.

Fiserv said the managed account technology is designed to enhance trade management, enable portfolio accounting and performance reporting, and broaden the range of custodians through which Morningstar Investment Services can submit trades.

Using Fiserv’s technology Morningstar Investment Services will add unified managed account and rep as portfolio manager capabilities in the future.

Morningstar Investment Services president and chief investment officer Jeffrey Ptak said that the 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.

Fiserv president of Investment Services Cheryl Nash said that working with forward-thinking companies such as Morningstar helps them create more innovative products to benefit the entire financial advice industry.