Morningstar Launches Goal Bridge to Help Improve Investor Outcomes

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[{"type":"text","content":"CHICAGO, Sept. 9, 2019 /PRNewswire/ -- Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today launched Goal Bridge, a planning and proposal solution that enables advisors to connect goals-based planning and investment strategies within a single, dynamic workflow.\nGoal Bridge, available now as an add-on for Morningstar Advisor Workstation and soon as a standalone Enterprise Component, is powered by Morningstar research and grounded in behavioral science. Goal Bridge makes it easy for advisors and investors to put goals at the center of their portfolio and helps advisors demonstrate the value they bring as not only money managers, but also financial coaches who help clients retire, save for college, take family vacations and lead the lives they want to live. Additionally, more advisors can expand their goals-based financial planning services to more investors, because the simple, scalable workflow doesn't require the hours traditional financial planning methods do. \n\"Advisors are continuously being pushed to compete and innovate to meet client demands,\" said Dermot O'Mahony, head of software products at Morningstar. \"Goal Bridge promotes real advisor-client collaboration to identify meaningful goals and visually connect them to the personalized investment plans. As a result, investors can sit side-by-side with their advisors to set the right expectations and buy into their plans. When investment choices are clearly rooted in investors' intrinsic motivations, investors are more likely to stay on track to achieve their goals.\" \nGoal Bridge helps address the fact that identifying an investor's true goals can be surprisingly difficult. In fact, recent behavioral science research from Morningstar showed that 73% of investors changed at least one of their previously identified top three goals after reviewing and prioritizing financial goals from a master list. With this in mind, the streamlined solution uses the master list approach and is designed to equip clients with the information and confidence needed to co-create investment plans that make their goals achievable.\nFor each client goal, Goal Bridge provides tools to help the advisor and investor determine a suitable asset allocation based on the details of that goal—namely, the goal time horizon and duration—along with a measurement o...

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