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Bridgehouse Asset Managers launches Morningstar Managed Investments Program

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Bridgehouse Asset Managers (Bridgehouse) has launched the Morningstar Managed Investments Program (MMIP) in collaboration with Morningstar Associates Inc.

This set of five risk-targeted portfolios features objectively selected third-party managers of mutual funds, pooled funds and ETFs. No proprietary product is included. The program is supported by investor experience tools, including an Investor Profile Questionnaire (IPQ) and an Investment Policy Statement (IPS) to engage investors in risk assessment and promote product suitability. MMIP and the portfolios are exclusive to the Bridgehouse Independent Platform, which services financial advisors and their clients.
 
“More than ever, independence and impartiality are critical values for investor suitability and protection: Morningstar is particularly well respected globally for its impartiality,” says Bridgehouse President & Chief Operating Officer, Carol Lynde. “Morningstar’s objective selection of top third-party managers – with no proprietary product – differentiates the Morningstar Managed Investments Program from other current fund-of-fund programs.”
 
“For these portfolios we are applying Morningstar’s Valuation-Driven Asset Allocation methodology that draws on our global research expertise,” Michael Keaveney, Head of Investment Management, Canada, Morningstar Associates Inc., said. “Our asset allocation methodology strives to actively manage risk and improve return potential, using ETFs, mutual funds and pooled funds.”
 
Morningstar monitors the portfolios regularly and makes adjustments to achieve targeted portfolio weights aligned with five risk profiles: Morningstar Conservative Portfolio; Morningstar Moderate Portfolio; Morningstar Balanced Portfolio; Morningstar Growth Portfolio; and Morningstar Aggressive Portfolio.
 
“The managed and single-ticket solution features ‘disrupt’ cumbersome administration, freeing up advisors so they can devote more time on financial planning for their clients,” says Lynde. “It’s challenging for an advisor to assemble and manage third-party portfolios like these because of the trading, paperwork and point-of-sale duties.
 
“It’s an enormous advisor benefit for Morningstar to manage the portfolios: manager selection, asset allocation, construction, monitoring and rebalancing.
 
“The investor experience components are designed to promote product suitability and provide an audit trail that dovetails nicely with Know Your Client (KYC) requirements. The Morningstar-designed Investor Profile Questionnaire covers objectives and time horizons, as well as attitudes towards risk and reward. Investors get a private-client style Investment Policy Statement so they can fully understand their portfolios and have informed discussions with their advisors.
 
“Morningstar’s Investment Management group is a global leader in investment research and investment selection,” says Lynde. “Morningstar’s Investment Management group fields an ‘army’ of investment professionals around the globe. Bridgehouse was very deliberate in choosing to collaborate with Morningstar on this new investment offering for Canadian investors and advisors.”

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