Contents
*Note: The household created by this integration is dependent upon the quality and accuracy of the data entered at the source. Generally, good and accurate data will result in a successful import into Asset-Map Platform.
Overview
The Morningstar Wealth integration gives users the ability to quickly search Morningstar clients and import available client and financial data into Asset-Map, reducing the need to rekey data and streamlining the process of adding and updating Asset-Map households. In addition, this integration also allows Advisors to easily send a copy of any linked household’s Asset-Map report directly to their Morningstar Wealth Reports center for further action within Morningstar.
Enable Integration
1. To enable the Morningstar Wealth integration navigate to the Integrations pane within the Asset Map Platform.
2. Click the “Activate” button on the tile which will launch the Morningstar authentication process:
3. After successful authentication the user will be automatically redirected back to the Asset-Map integration page, and the Morningstar tile will now appear active:
Import a Client from Morningstar Wealth
To quickly create a new Asset-Map household from an existing Morningstar client, select Morningstar from the available options within the “Add Household from Integrations" workflow (accessible from the the Asset-Map dashboard page or the House icon in the upper left area).
Clicking “Select” for a specific Morningstar client will subsequently return a list of member records associated with the client, allowing the advisor to import Morningstar member records individually or collectively as members of a single Asset-Map Household:
Import Multiple Households
With the text field empty, click the search magnifying glass icon and wait for your client list to appear (this may take minutes). Click Import adjacent to the desired contact names. Importing is complete for the household when View is shown.
Imported Information
Member level information
First & Last Name
Date of Birth
Address
Phone Number
Role
Financial information creating tiles
Asset Type
Interested Member/Owner
Account Type (where possible based on value match)
Instrument Categories (Retirement & Non-Retirement assets only)
Reference Name
Location
Value
Date Collected
Some editing of the Financials or Members may be needed within Asset-Map.
Information imported from Morningstar Wealth that is not editable from within Asset-Map is within a gray field with a lock icon above the field.
Link Members in Existing Asset Map Households to your Client’s Records in Morningstar Wealth
It is also possible to import or link Morningstar client records with an existing Asset-Map Member. To do this go to the household information page of an existing Asset-Map household and select the Morningstar option to specify your search criteria.
To link an existing Asset-Map household member:
Navigate to the Household Summary page. Click Integrations then the Morningstar tab:
Search for the client name in the search field.
Click the "Import to" drop-down and select which Member on the household the client will connect to, or select "new member" to create a new Asset-Map Member on the household.
Choose "Import" adjacent to the appropriate search result.
The linked members will appear to the right and any assets will be imported onto the Asset-Map.
Morningstar Tab on Members and Financials
Once the Asset-Map household and Morningstar client record(s) have been linked, additional partner details for linked members and financials can be viewed via the Morningstar tab.
The Morningstar tab displays additional related details, directly from the Morningstar platform, for quick reference as well as a link back to the source data within Morningstar Wealth. Asset values displayed within the Morningstar partner tab are 'day end' even though Morningstar has a 'month end' option.
To access, these details simply navigate to the Asset-Map, double click on any linked member or financial (identified via link icon), and click on the Morningstar tab in the edit window:
A Morningstar tab will be included on linked assets and will display up to the top 10 holdings.
The Edit Asset tab displays current values directly from Morningstar.
NOTE: The Household may need to be synchronized with Morningstar to update the values on the Asset-Map. Sync icons are on the Household's Summary page or Morningstar page in the Household's Integrations.The Data Collected date on the Details tab is either the import date or the most recent sync date.
The Member tab on Edit Member windows displays information about the household member and links out to Morningstar.
Select the outbound link arrow icon to view the client or asset in Morningstar.
Synchronization Options
Sync from the Actions menu, the right-click (alt click) menu, and the financial or member info/edit window.
Seamlessly Share an Asset-Map Report into Morningstar
In addition to all of the above functionality, the Asset-Map/Morningstar integration also supports the ability to seamlessly “share” a copy of any previously generated Asset-Map Report pdf directly to the advisor’s Morningstar Wealth report center for subsequent review, reference, and/or publishing to the Morningstar Client Web Portal at the click of a button.
1. To utilize this feature, simply navigate to the Report History view within the household Reports center, identify the desired Asset-Map Report pdf, and click the “share” icon (curved arrow) to proceed:
2. Click "Send Report"
3. Confirmation.
Unlinking (Disconnecting from Morningstar)
There are two levels of unlinking depending on what is needed. Either:
At the member from within the Household, or;
From Asset-Map platform altogether at the Advisor level.
When attempting to Unlink a Member, an information box may appear informing you that the Household was imported from the Advisor level and must be disconnected there.
Unlinking a Household Member
Unlink a member from the Household's Integration page. See the section above (Link Members in Existing Asset Map Households to your Client’s Records in the Morningstar Platform).
Unlinking a Household
Unlink a household from the Advisor's Asset-Map Integrations page, found by clicking Integrations from the main Asset-Map Platform page or from the drop-down menu found under the advisor's likeness in the upper right area.
Troubleshooting
Note: Accessing Asset-Map from multiple browsers could affect integration tokens causing a sync failure error. Please use one browser or disconnect and reconnect the integration from the Integrations page within Asset-Map to refresh the token.
Q. None of my Morningstar Wealth (MSO) clients can be found when I search for them in Asset-Map.
A. Morningstar has a number of products. Please ensure you are using the correct username and password for MSO instead of, for example, Morningstar Direct.
Tags: morning, integrations, import, connect
1/2024