This agreement marks Morningstar's 100th institutional Workstation client in the United States.

Piper Jaffray is licensing a customized version of the entire Enterprise Edition platform, which includes four modules - Clients & Portfolios, Research, Sales/Hypotheticals, and Planning. Through these integrated modules, the firm's financial advisors now have access to portfolio analysis and construction tools, investment research, and client reports.

"Advisor Workstation can serve as the cornerstone of a firm's investment- planning technology while providing the flexibility to allow each organization to tailor the system for the unique needs of its advisors," said Chris Boruff, president of Morningstar's advisor business. "Reaching the 100th client milestone demonstrates that our set of tools can support a variety of financial advisors with different needs and business models."

Morningstar Advisor Workstation Enterprise Edition debuted in 2001 when Merrill Lynch Investment Managers licensed key components of the platform.
Today, more than 100,000 advisors at 100 financial institutions have access to the tools. Morningstar plans to add new tool sets and functionality to its offerings for advisors through its developing product lines such as
Morningstar Advisor Compliance Tools, specialized Variable Annuity Tools, and a Retirement Income Planning application.

Advisor Workstation Enterprise Edition clients include Ameriprise Financial (formerly American Express Financial Advisors); AG Edwards; AXA Advisors, LLC; Nationwide Financial Services, Inc.; TD Waterhouse Investor Services, Inc.; and RBC Dain Rauscher Inc.