Under the terms of the agreement, the plan provider’s clients will have access to Morningstar’s planning tools via T. Rowe Price’s Web site http://www.troweprice.com/ ) . The tools, which are slated to be available by the close of 2001, are:
- Morningstar ClearFuture, an online advice tool that uses Monte Carlo simulation to analyze the dynamics between risk, asset allocation, and retirement income,
- Portfolio X-Ray, which reveals total exposure to individual stocks through either direct ownership or through mutual fund holdings,
- Portfolio Tracker, a quick reference page of financial information on mutual funds and stocks, and
- an IRA calculator, which compares various types of IRAs with taxable accounts
While T. Rowe Price will continue to develop its own calculators and educational resources for investors, the alliance also enables the group to serve in an advisory role for any additional tools Morningstar creates. This marks the first collaboration of its kind between Morningstar and a major financial services company.
The services will also be available to retail investors,
T. Rowe Price provides investment management services to individual investors, institutional clients, and corporate retirement programs, managing $158.6 billion in assets.