InvestorCOM Signs Data Agreement With Morningstar

Morningstar investment data will power InvestorCOM’s compliance platform; a platform helping US broker-dealers meet compliance for Regulation Best Interest and beyond

InvestorCOM, the leading provider of regulatory compliance software and communications solutions for the financial services industry, announced a three-year data deal with Morningstar Inc., a leading provider of independent investment research in North America, Europe, Australia, and Asia.

InvestorCOM will integrate Morningstar’s investment data into its compliance platform, helping US broker-dealers meet the June 30 regulatory requirements of Regulation Best Interest (Reg BI) in a fast and efficient manner.

Morningstar’s investment data will be used by InvestorCOM to power two of the company’s compliance solutions:

• ShelfMonitor – Know Your Product (KYP) software that alerts broker-dealers to material changes on their product shelf that may affect investors’ portfolios.
• PeerCompare – data analytic software that advisors use to generate and disclose a set of reasonable product alternatives for the investor.

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InvestorCOM will receive Morningstar data on over 300,000 investment products. InvestorCOM will track changes to the investment data in real-time and enable broker-dealers to generate comparable, up-to-date investment options for investors to consider. Investment types include Mutual Funds, Exchange Traded Funds (EFTs), Variable Annuities, and Segregated Funds.

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“On a daily basis, we will receive over 75 million attributes from Morningstar,” said David Reeve, CEO of InvestorCOM. “This breadth of data from Morningstar allows us to monitor the investment product universe and the most attributes for our customers, and to provide the highest level of service.”

“At Morningstar, we believe putting the investor first enables financial representatives to grow their practices while continuing to act as stewards of capital,” said Matt Radgowski, head of advisor solutions for Morningstar. “Technology solutions that are tailored to support compliance obligations are crucial for broker-dealers to make informed investment decisions and set themselves up for success.”

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