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Setting up the integration:
To take advantage of any of the integration points available, an admin user of your Redtail CRM must enable the Morningstar Advisor Workstation integration within your database. To enable, go to Manage Your Integrations from your Top Right Menu Bar:
On the resulting page, scroll through our alphabetical list of integration partners until you see Morningstar and click inside the On/Off toggle to enable the integration:
Your database users can then take advantage of the integration features available to all Redtail CRM users.
To utilize the features available to you specifically as a Morningstar Advisor Workstation subscriber, you'll have additional settings to update. To do so:
- Go to your Advisor Workstation File Menu and click User Profile:
- Click the Integrations tab and then click Generate in the Redtail row. Copy the access code that is generated using CTRL+C on your keyboard:
- Go to Redtail CRM and click on your username in the upper right corner. Then, click on Manage Your Integrations:
- Scroll to Morningstar and click the Actions icon. Choose Settings:
- Choose Advisor Workstation and enter your Inst ID, Login ID and access code and click Save. You can get your Inst ID and Login ID from the Help > Support section of Advisor Workstation:
Note: if additional users in your office are attempting to set this up using your Morningstar Advisor Workstation subscription username, they will need a new access code generated if performing this setup at a different time than you, as each access code generated is valid for a short time only.
- The integration will then be enabled within your Redtail database.
- To access the Portfolio level reports, go to the Accounts section of a contact record and click the Actions menu to the left of the account name:
- To access an aggregate or contact level report, click the Account Options button within the Accounts section of a contact record:
- To access holding level reports, click on an account name, which will take you to an Account's Details page, where Assets are listed in the first section. Click the Actions menu to the left of a holding name and choose which report you would like:
In the previous version of Redtail CRM, Morningstar Advisor Workstation subscribers had the capability to create and download an .xml file from a contact record in Redtail that would then allow them to import the contact into their Advisor Workstation account. This capability is present in Tailwag as well, but the integration between Redtail and Morningstar has been enhanced to offer additional tools to Morningstar Advisor Workstation subscribers as well as to those Redtail subscribers who don’t currently use Advisor Workstation. We’ll cover all of this below. Note: these new features of the integration are only available to Redtail CRM users who upgrade to Project Tailwag. Additionally, those tools only available to Morningstar Advisor Workstation subscribers will be available to all new Tailwag trial users for a period of 30 days.
FEATURES AVAILABLE TO ALL REDTAIL CRM SUBSCRIBERS
Without leaving the Redtail platform, Redtail subscribers may view:
- Morningstar Security HTML reports: The Morningstar Report for mutual funds, stocks, closed-end funds and exchange-traded funds presents proprietary Morningstar data and in-depth investment research in a clear, tabular format.
- Morningstar Market Monitoring Tools, including the Morningstar Market BarometerSM, Sector Delta graphics, Fair Value Chart and Morningstar news content.
These are accessible by clicking your Integrations Menu within Redtail and then selecting Morningstar. You'd then see the below:
If you then click "Market Tools", these interactive tools will appear before you within Redtail:
FEATURES AVAILABLE TO ALL REDTAIL CRM SUBSCRIBERS WHO ALSO LICENSE MORNINGSTAR ADVISOR WORKSTATION
Redtail subscribers who license Morningstar Advisor Workstation have access to some additional integration points, including:
- Morningstar Security Investment Detail™ PDF reports: Investment Detail reports for mutual funds, closed-end funds, exchange-traded funds and stocks.
- Analyst Research within the Morningstar Report
- Portfolio-level reports: Including Portfolio Snapshot™, Portfolio X-Ray® and Stock IntersectionSM
These are accessible when within the Accounts section for one of your clients in Redtail. To access, you can click "Account Options" on their Accounts page, or you can click the Actions menu for an individual account, followed by selecting the report you want to view:
This will then pull the information from Morningstar into a PDF, provided the account in question has a Symbol entered for it within Redtail.
If you license Morningstar Advisor Workstation, you will have access to all of the capabilities above, plus you can create an .xml file for a contact from Redtail, suitable for import into Advisor Workstation.
To do so, simply go to the contact record within Redtail, click the Integrations Menu at the top of the screen and select Morningstar. If you select Morningstar from this menu when within a contact record, you'll see an option there to "Send To Morningstar Advisor Workstation":
Clicking this "Send To" option will download an .xml file, which you can then import into your Morningstar Advisor Workstation account.
Morningstar Advisor Workstation resources:
If you are an existing Morningstar user and need support, Morningstar can be reached at 866.215.2503 or firstname.lastname@example.org.
Find out how Morningstar can help your firm: Call +1 800 886-9324 or Email: email@example.com
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