Morningstar (NASDAQ:MORN), a leading provider of independent investment research, is partnering with Pyxis Mobile, the leading provider of wireless software for the financial services industry, to deliver real-time Morningstar mutual fund and exchange-traded fund data to fund wholesalers through their mobile devices.
Under the Pyxis Mobile mPlatform Alliance (mPA) program, partner companies like Morningstar have the ability to deploy wireless applications to their customers based on Pyxis Mobile's industry-leading technology.
With Morningstar Mobile for Wholesalers, fund wholesalers who use mWholesaler, Pyxis Mobile's wireless software, can quickly access and analyze Morningstar fund data directly from their Blackberry or Windows Mobile-powered devices. Morningstar Mobile allows wholesalers to compare various data points of the funds they are selling, which in turn, helps their financial advisor clients make more informed decisions about which investment products to recommend to investors. Available in May, Morningstar Mobile is designed to help increase wholesalers' productivity by un-tethering them from their desks for investment analytics, allowing them to spend more time in the field visiting clients and prospects.
Morningstar Mobile allows wholesalers to look up and compare data on approximately 78,000 mutual funds and 700 ETFs from Morningstar via their wireless devices. Wholesalers are able to pull up any critical real-time information they would need from their desktops, such as the Morningstar Rating, Morningstar Ownership Zone, expense ratios and manager information, directly onto their wireless device, anytime, from anywhere. Morningstar Mobile is not tied to any Morningstar platform or software solution.
"Morningstar Mobile opens up a broad new market for our data. At the same time, it gives our clients the real-time information they've been asking for to be more productive while in the field," said Chris Boruff, president of Morningstar's advisor business. "With Pyxis Mobile, we've created a unique offering that combines Morningstar's industry-standard data and research with Pyxis Mobile's top financial services wireless software. Our service is the first of its kind on the market and we're exploring ways to expand our wireless offerings in the future."
"Today's wholesalers require immediate, on-the-spot access to fund data to differentiate their services and educate their clients. We are focused on raising productivity through the use of wireless products designed specifically for mobile financial professionals," said Shane Hughes, president and CEO of Pyxis Mobile. "Pyxis Mobile continues to add market-leading content providers like Morningstar to our mPlatform Alliance to make our applications more valuable to the mobile professional. The addition of Morningstar as a content provider illustrates a giant step in Pyxis Mobile's initiative to add content and features that will drive usability, productivity, and return on investment."