Morningstar Total Rebalance Expert (tRx)

What do you like best?

TRX is a very robust tool that will certainly help centralize your trading on a day to day basis. The best park of using TRX is that they have made it quick and easy to upload trades to custodians. It also makes it easy to see which clients need to be rebalanced at any given time. I'm also a fan of the Dashboard. It's a nice landing page where you're able to see an overall picture of the client portfolios.

Customer service is very helpful and patient. They are always available to explain where something is or how to do a certain task. Another great aspect is that all of our data automatically pulls over from Morningstar Office so we don't have to input data a second time.

What do you dislike?

We love the product but getting it set up was quite time consuming and was a bit difficult. The user interface is a little clunky but I've heard that this is changing in the near future. I would also like to see them make getting from screen to screen a bit easier. I find I have to click multiple times to get to a screen that should only take one click.

Recommendations to others considering the product:

This is a great product but takes a few months to fine tune.

What problems are you solving with the product? What benefits have you realized?

We are able to centralize our trading process and streamline all of our client portfolio rebalancing. TRX has also helped us define a new trading process that is streamlined across advisors.