In January 2025, we launched Direct Advisory Suite, which represents the next generation of our advisor offering. Direct Advisory Suite’s modern interface offers a connected suite of tools spanning proposal creation, investment research, and portfolio analysis. It is built on the Direct Platform, a common foundation of investment data, analytics, and research. We plan to offer Direct Advisory Suite globally, capturing both the broker/dealers who have traditionally been Advisor Workstation clients as well as registered investment advisors.
All Morningstar Advisor Workstation clients are expected to be enabled and updated to Direct Advisory Suite in 2025 and 2026 so that they can take advantage of these enhanced capabilities. As you noted, Direct Advisory Suite gives users access to our latest capabilities, including our AI-powered investment research assistant, Mo, and a new Insights tool, which provides the latest from our research teams on a list of securities or a portfolio, delivered in a concise summary. Direct Advisory Suite is a web-based platform that will allow us the flexibility to quickly share our latest capabilities so that clients can have access to the latest data, research, and insights available to empower investors.
Direct Platform connects our core investment applications (including Direct Advisory Suite and Morningstar Direct, which is the Platform’s asset- and wealth-management focused application) to unified data, analytics, and research. The Direct Platform gives users a consistent data experience, no matter their use case or how they connect with us, from data feeds and APIs to Morningstar Direct and our advisor applications.
In general, we seek to continuously enhance the value of products and services to meet our clients’ needs, and we generally expect to be compensated for the value we provide to our clients via pricing. We review our pricing strategy annually to ensure that it reflects the value we deliver to customers. Given the increased capabilities of Direct Advisory Suite, we will consider price increases at renewal.