Morningstar And Redtail Tech expand Deal To Add CRM Functionality For Financial Advisors

Morningstar, Inc.

disclosed that it was integrating Redtail technology's strong customer relation management capability to its OfficeSM, its practice management system, and its portfolio for financial advisors. According to the company, the CRM integration expands its relationship with Redtail. In 2014, the companies joined hands to offer seamless access to Morningstar's proprietary research and analytics within the Redtail CRM user interface. Currently, advisors could transfer data between firms to cut down redundant entry and offer up-to-date client and account data within the Redtail CRM interface. Morningstar said that Redtail would be an integral part of its Office, along with account aggregation, back-office services, and rebalancing capabilities. The company's North American Head of Advisor and Wealth Management Solutions, Jeff Schwantz, commented, "Incorporating Redtail CRM as a core functionality in Morningstar Office is another example of our focus on helping advisors demonstrate value to their clients, by embracing an open technology ecosystem to improve the daily management of their practices. We want to deliver an experience for advisors that best meets the needs of the investors they serve." . For his part, Redtail Technology CEO, Brian McLaughlin, stated that "Redtail and Morningstar share a commitment to investing in innovations that keep financial advisors ahead of fluctuating investor demands. The latest evolution of Morningstar Office illustrates Morningstar's continued commitment to delivering valuable tools built specifically for independent advisors." On Wednesday, the stock traded up by 0.17%.