Folio Institutional has added 31 Morningstar Managed Portfolios ETF and mutual fund models to its Model Manager Exchange (MMX).
Folio provides MMX, a network of third-party investment models, to registered investment advises (RIAs) who seek more efficient, cost-effective asset management solutions.
"Today, RIAs demand services that streamline their business, reduce costs and offer possible solutions to fiduciary duty rules. Model Manager Exchange helps make this possible," says Greg Vigrass, president of Folio Institutional. "We are excited about the addition of Morningstar Managed Portfolios to MMX. This is one of the many ways we seek to contribute to an advisor's business growth, innovation and client service."
MMX also empowers investment managers to broaden their reach to Folio's RIA clients. Brand name and start-up investment managers make their models available through MMX.
"Our managed portfolios are designed to be part of a long-term investing plan and are built with investors' needs in mind. These strategies help advisors' practices be more efficient, so they can spend more time providing comprehensive financial planning services to investors," says Daniel Needham, president and chief investment officer of Morningstar's Investment Management group. "Morningstar's mission centres on helping investors reach their financial goals, and we're pleased to make our managed portfolios available to Folio Institutional clients through the Model Manager Exchange."
"Folio Institutional's models and rebalancing tools are a game changer for us," says Vance Howard, CEO of Howard Capital, a SEC-registered RIA that uses models offered through MMX. "Using Folio Institutional's Model Manager Exchange, Howard Capital is able to run 20 different investing strategies, ranging from very high to very low risk. We can also subscribe our clients to multiple strategies, in one account."