He said it was likely that for now, in the UK, it will probably be staggered.
“The Adviser Workstation product that we have now, which is our research, is probably the one that we'll focus on now because I think that's the origins in terms of Morningstar as an existing brand so we'd want to be able to really enhance our ability to provide excellent research, and then lean in to add some of the capabilities.”
Navra said Morningstar will partner with firms and see how it can embed them with some of the capabilities of the other.
"We are already talking with clients at the moment now so a lot of the thinking now is identifying what we could do more with the existing services that we have,” he said.
“We're partnering with a pilot group and the ones we're talking to are around 20 firms that are loyal customers we work with at that point in time to see exactly what might be the roadmap to be able to take forward.”
He explained that integrating Finametrica into Wealthcraft is almost ready.
“That's going to be the key thing we'll be patient with,” he said.
“What we don't want to do is corner firms feeling like they have to take additional services that they have, rather than making the option easier to use.”
Navra said feedback so far had been positive, with most people questioning how soon it will happen.
“We're very unique in that we have an opportunity by virtue of having existing products in the market that we don't necessarily have to integrate to providers,” he said.
“We're both providers, so we have a fast opportunity to go to market so their feedback has been ‘sounds good, let's start to see it in execution’ and hopefully over the next six to eight months as we start to release our first beta releases and prototype, clients will see we're on the right track to delivering the right value.”
sonia.rach@ft.com
