American Express selects Morningstar's Advisor Workstation
02 May 2003 | 2003 views | 0
American Express Financial Advisors is to roll out a customised version of Morningstar Associates' investment planning and advice platform Advisor Workstation to more than 10,000 users.
Under the deal, American Express will integrate the research, planning, clients, portfolios and sales applications from Advisor Workstation into its proprietary platform.
Once implemented, investors will have access to advice tools over multiple channels, including online, over the phone and face-to-face with a financial advisor.
Bill Elliott, vice president, financial advice, American Express Financial Advisors, says the package will help advisors improve delivery of personalised financial advice and client-oriented service while saving time and helping to boost productivity.
"As a Web-based solution, it also supports the increasing importance of technology in financial advice, giving advisors an easy-to-use, time-sensitive application that will allow them to more easily monitor and rebalance client portfolios," he adds.
The contract is the second between the firms this year. In January, American Express Retirement Services announced plans to offer advice and guidance services, powered by the MorningStar ClearFuture system, to its 330 client plans which represent a million participants.