Your first week at Morningstar will inevitably be filled with trainings, meeting new people, and getting everything set up for your job to run smoothly (hello, 401k plan!). Once the whirlwind of those first few days passes, however, it’s time to join your new team and begin your position in Client Services.
The Morningstar Development Program begins with a position in customer support. In this role, you’ll be placed on one of the following teams, ready to support clients with everything from report inquiries to portfolio management.
Direct: Morningstar Direct is primarily used by financial advisors, asset managers, and wealth managers. Through Morningstar Direct, clients have access to Morningstar’s global database and proprietary research. Direct has powerful analytical tools, such as portfolio analysis, asset allocation, and the risk model. With the Presentation Studio component, advisors can easily create professional, client-ready reports. The Direct team supports both the Direct 3X platform and the Direct Cloud platform by email and phone.
Office: Morningstar Office is an accounting platform where advisors get a mix of everything that Morningstar, Inc. has to offer: communications with end-clients, research, and portfolio management. The product supports financial advisors’ books of business and allows them to aggregate information from custodians, create model portfolios, conduct research on securities, and run multitudinous reports.
Advisor Workstation (Enterprise): Financial advisors use Morningstar Advisor Workstation as a research and reporting tool for their clients. The software allows advisors to create reports, look at historical data for all kinds of securities, and organize their clients’ accounts in an easily accessible way. The Enterprise team also supports numerous other advisor-level products by email and phone, such as Morningstar Essentials, Enterprise Components, and Morningstar Annuity Intelligence.
Morningstar Managed Portfolios (MIM): Morningstar Investment Management or Managed Portfolios is a money management platform, housed under a separate umbrella from Morningstar Inc. The MIM service team is the liaison between custodians (who hold money) and the advisors/end-clients that use Managed Portfolios investment strategies for their money.
Commodities and Energy (C&E): Commodities and Energy clients receive access to Morningstar’s integrated, enterprise-level software for easier analysis of proprietary and market data, automated generation of up-to-date results, and faster execution of transformative business decisions with 24/7 customer support.
Not in Client Services or on the Business MDP track? Chances are you’re a Tech MDP, building flexible software solutions by taking technical direction and applying modern software development practices.
Although the products may differ in their capabilities and clientele, all of them prepare you in the same way. Working in Client Services allows you to build your communication skills, financial confidence, and sometimes even conflict resolution. Your team, a mix of more tenured MDPs as well as other new members, will be there to support you as resources, sounding boards, and a cohort you will inevitably bond with—maybe even planning meetups and brunches outside of work!
Without sugarcoating it, Client Services can sometimes be a challenging job, but there’s nothing more rewarding than being thanked by a client for a positive attitude, patience, and problem-solving capabilities. By the time you start applying to or move on to your next position in the company, you’ll have gained a comprehensive understanding of Morningstar’s product offerings, client base, research capabilities, and impact on investors everywhere.