Morningstar Advisor Workstation vs. Shrimpy

If a client is shy about investing or wants portfolio comparisons, Morningstar really hits the mark. Being able to show real-time data is great for putting a client's mind at ease. The downside to this product is, that if a client isn’t as financially literate, it takes some explaining to show them what’s going on, and they can get lost in all of the data.

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Shrimpy is a good visual aid but it lacks some key features, such as a mobile app.

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• Amazing Comparisons
• Easy to read charts
• Diverse database

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• Connects accounts.
• Automate trading however i don't use this currently.
• Copy trades etc.

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• Ease of use
• Data sync
• Bond Database can be lacking

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• No financial security.
• No mobile app (yet).

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In terms of diversity, Morningstar is the best on the market. The way they display data, and since many financial institutions use this software, it is easy to show clients how their money is doing outside of our institution. Also allows us to show portentously clients in-depth comparisons of different investment strategies.

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Shrimpy is simpler to use, and the portfolio rebalancing to adjust to market movements is its best asset. This was used for stocks and shares prior and works in a similar way with crypto. Not sure as to the long-term gains this will provide but the theory stacks up.

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• Gets Clients to Move their money to us
• Let’s you track portfolio performance to a variety of benchmarks
• The historical data is great

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• Crypto has taken a hit so ROI is negative at the moment but it will go back up.

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Independently Invited by TrustRadius

A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info