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Rating:AXA Advisors Adds Morningstar Not Rated 3.0 Email Routing List Email & Route  Print Print
Wednesday, August 09, 2000

AXA Advisors Adds Morningstar

Reported by Sean Hanna, Editor in Chief

Morningstar is busily bolstering its Web presence. Today the Chicago-based fund tracker announced that its ProWeb product will be offered to 7,400 financial professionals at AXA Advisors and that it will be adding a 401(k) plan selection tool to its advisor site later this summer.

Morningstar's Paul Fox, vice president of advisor tools, said that ProWeb will deliver NASD-compliant, customized investment information and tools directly to the desktops of AXA advisors. ProWeb consists of two parts: a database module featuring mutual funds, variable insurance products, and stocks and an optional hypothetical module.

Craig Junkins, senior vice president in charge of the financial-planning initiative for AXA Advisors said that the firm will tie the Web-based tool to its internal asset allocation platform through a proprietary mapping process.

Separately, Search401k.com will be the exclusive provider of 401(k) retirement plan comparison and rating information on Morningstar's new advisor site, the company said today. The company said that the arrangement is a "revenue-sharing" agreement. Other terms of the deal were not disclosed.

Search401k.com, which is a marketplace aimed at financial intermediaries, said that it's service will be placed on Morningstar's Advisor site beginning in the late summer of 2000.

"Our goal is to provide a central facility on the Web for advisers to serve their clients, both by offering our own proprietary information and tools as well as by partnering with carefully screened third parties that provide other value-added services," said Chris Boruff, president of Morningstar's Intermediary Division. "We feel that Search401k.com offers a unique and beneficial service that is well-aligned with the challenges of our adviser audience."  

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