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Advisor Insights from the T3/Inside Information Software Survey

Chief Product Officer
Chief Product Officer
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Two weeks ago, Joel Bruckenstein (Technology Tools for Today—T3) and Bob Veres (Inside Information) released their 2019 Software Survey. In its third year, the survey reveals the preferences of more than 5,000 advisors as it relates to the tools they’re using and their overall satisfaction with these software products.

Here are three key takeaways from this year’s survey: 

  • This year’s respondents marked CRM as their most valuable software tool (52.59%), followed by financial planning (22.90%), and portfolio management (12.83%). Given the industry trend of amplifying the client experience, this isn’t surprising. Using your CRM effectively is critical to maintaining your business, which is why we’ve taken steps to align ourselves with the best in the business, creating strong integrations with RedTail (ranked #1 in CRM Tools) and APIs for increasingly popular technology for advisors such as Salesforce (ranked #2 in CRM Tools). 
  • Survey respondents see consolidation in software platforms and the data that powers them. In the Investment Data/Analytics Tools category, Morningstar was selected by 40% of respondents, followed by FI360 (8.24%), and YCharts (5.54%) (and both FI360 and YCharts are built on Morningstar data). Despite consolidation trends, Morningstar is happy to support a dynamic ecosystem of solutions, which is why we work with other software vendors that also support the delivery of great advice in ways that we don’t.

  • The newest category, Economic Analysis and Stress Testing Tools, underscores that today’s investors are seeking to simplify the complexity introduced by the sheer volume of information available in today’s transparent market. We were excited to see Morningstar Direct make a debut appearance on the survey in this category in a strong #4 ranking, and above average satisfaction rating. The amount of investment news and information creates noise that distracts from end goals, which is why risk prediction and stress testing tools are rising in popularity, enabling advisors to predict future possibilities for investment performance. This time next year, we expect to see a continued rise in adoption of Morningstar Direct for Wealth Management’s and Morningstar Direct for Asset Management’s risk modeling and scenario analysis tools!  

Download the survey to evaluate your tech stack and see what your peers are using and register for our webinar on March 6th at 3PM CST with Bob Veres and Joel Bruckenstein to hear their full commentary on the results.



Tricia Rothschild
Chief Product Officer


@SandeepKumar- FYI - the stats are great for Office - #1 All-in-One solution and top 3 for Portfolio Management. @RahulR and I got to celebrate at T3 - but your impact here should also be celebrated... please share with your team!  Hope you are doing great!

@RahulR- all good news for Office!

Product Manager
Product Manager

That's great to know,@KarynD ! I saw the survey results. Very happy to see Office on top. I will share this with the team. They will sure be happy to know.

Participant ○○

The automatic integration between SharePoint, Outlook, Excel, Dynamics (and/or Tamarac/Salentica since they are both based on Microsoft Dynamics 365) is likely going to make Microsoft the clear 1 or 2 CRM in the future for established firms.

If you have not experienced it, you can update Excel sheets from your Dynamics/Salentica/Tamarac CRM with zero development/zero effort. It is all automatically enabled and works perfectly now that Microsoft has Office 365 and people are moving off of onprem servers to hosted cloud deployed Office.

You can automatically create SharePoint folders based on entries in Dynamics. You can automatically create tasks/move files/email team members/perform any action based on what is happening in SharePoint<->Dynamics<->Outlook<->Excel basically in any order/combination.