Morningstar Advisor - Fall 2008 - 95

In the Loop New at Morningstar Morningstar Acquires FCSI On Sept. 2, Morningstar completed its acquisition of Financial Computer Support, Inc., and the integration process is well under way. to have dbCAMS+ data (such as detailed portfolio performance) included in some of those reports. r Continue to develop dbCAMS+ functionality FCSI’s flagship product, dbCAMS+, is a portfolio-management system that allows advisors to easily track performance, generate reports, and manage contact information and billing at the client level. In recent years, advisors interested in reducing staffing, improving data quality, and spending more time with clients have increasingly hunted for opportunities to outsource back-office tasks. FCSI’s growing Service Bureau is adept at handling advisors’ data-management needs, from initial data entry to perpetual monitoring and maintenance of client information. Morningstar has a four-year lease on FCSI’s Oakland, Md., facility and plans to keep it open. Combining resources from our Chicago headquarters with those in this new location will allow a largely seamless user experience as we enhance FCSI’s core dbCAMS+ and Service Bureau offerings. At a high level, Morningstar’s plans in the near term are to: r Provide meaningful integrations with for “stand-alone” users. Not only is Morningstar committed to keeping the core dbCAMS+ functionality, Morningstar is committed to enhancements. While enhanced capabilities will be enabled for users who purchase both Principia and dbCAMS+, Morningstar will continue to sell the products in a modular format, allowing users to buy only the pieces they need. r Expand Service Bureau capabilities. Morn- The Principia ETF module features complete (100%) coverage of U.S. ETFs including portfolio holdings; 200-plus Analyst Reports; and proprietary Morningstar measures such as the ETF market-price/fair-value estimate, which uses our stock analysts’ valuations to determine if ETFs are under- or overvalued. Interested in gaining exposure to a specific style or sector but not sure of the best investment vehicle to use? Targeted searches and comparisons of pooled investments from multiple universes have never been easier. Morningstar’s new “find similar security” tool allows users to make comparisons between ETFs, mutual funds, closed-end funds, and separately managed accounts so that they can identify the best investment while taking into ingstar is excited by the strong foundation in place with FCSI’s Service Bureau and sees a great opportunity to expand both the number of users served by the current offerings and the scope of offerings provided. r Create a shared understanding of Morningstar’s plans among employees, customers, and any other interested parties. As the integration moves forward, feedback from users will be critical in helping Morningstar to identify and prioritize development projects. Several users have already provided helpful feedback that we’re including in our initial dbCAMS+/Principia integration plans. If you have ideas or suggestions, please send them to principia@morningstar.com. Principia Launches ETF Module account factors such as tracking error to index, tax implications, management fees, and trading costs. The Investment Comparison Report generates a detailed analysis of up to four managed products while displaying historical performance, style and sector drift, and risk/ return metrics. Subscribers to the Principia Suite will automatically receive the ETF module for no additional charge. dbCAMS+ and Principia. Some of the early integrations, which should be visible by January 2009, will include the ability for users of Principia and dbCAMS+ to launch certain Principia reports from within dbCAMS+ and The Principia user base has spoken, and Morningstar has listened. Based on expanded ETF coverage ranking as the top priority in Morningstar’s 2008 client survey results, Principia launched an ETF-focused module in October. MorningstarAdvisor.com 95

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Morningstar Advisor - Fall 2008

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