Morningstar recently announced the upcoming shutdown of its Office platform, sending ripples through the wealth management community. For thousands of financial advisors who relied on Office for performance reporting, billing, portfolio management, and client communications, the announcement has raised urgent questions:
What’s next? How should we transition? And what does this say about the future of advisor technology?
Here is what you need to know to prepare your practice for what is ahead.
What’s Happening with Morningstar Office?
Morningstar Office, long positioned as an all-in-one platform for independent advisors and small RIAs, is being phased out in favor of Morningstar's new cloud-based solutions, including Morningstar Wealth Platform.
While Morningstar has positioned this shift as a modernization strategy, the reality is this: advisors will need to migrate their data, reporting processes, and workflows elsewhere by the time Office is fully retired.
Implications for Advisors
🧩 Disruption of Core Workflows
If your practice relied heavily on Office for portfolio accounting, client performance reporting, or billing, this shutdown may force you to reevaluate core operational processes.
🔄 Forced Transition to a New Tech Stack
Many advisors will need to move to alternative platforms such as Orion, Tamarac, Black Diamond, or even Morningstar’s new wealth platform each of which will require data migration, new integrations, and time to train staff.
🔐 Data Portability and Vendor Lock-In Risks
Morningstar’s pivot underscores a key vulnerability: when a tech provider shifts direction, your firm may be left scrambling. It is a reminder to prioritize data portability, open architecture, and vendor transparency when choosing future platforms.
📈 Opportunity to Upgrade Your Tech Stack
While the transition may be disruptive, it also presents a rare opportunity: reassess your technology ecosystem and upgrade to tools that better fit your evolving business model. This is the time to ask, “Is my tech serving my clients, or just maintaining the status quo?”
Key Considerations Moving Forward
Audit your current use of Office.
List all features you rely on and prioritize those critical to daily operations or client experience.Evaluate your next platform intentionally.
Don’t just look for a 1:1 replacement. Look for tools that improve integration, efficiency, and advisor-client engagement.Preserve client data carefully.
Ensure you retain all historical data, reports, and client documentation before Office sunsets. Plan ahead for a secure, complete migration.Communicate proactively with clients.
If clients will experience different reports, portals, or formats, get ahead of the change. Reframe it as a technology upgrade.Lean on advisor-focused partners.
Choose tech and service partners who put the advisor-client relationship first. UI Charitable, for example, partners with advisors to provide flexible Donor-Advised Funds, allowing you to entirely manage the charitable conversation.
The Bigger Picture: Platform Independence Matters
Morningstar Office’s shutdown is a cautionary tale. As platforms consolidate or pivot, advisors need to build their practices around flexibility, portability, and client-first alignment.
Your value does not come from a tech platform. It comes from your advice, your relationships, and your ability to lead clients through complexity.
Choosing technology partners that serve your model will be essential as the industry continues to evolve.
🔍 Ready for What’s Next?
If you are reviewing your tech stack and client experience strategy, now is the time to think holistically about how you support clients with charitable planning, legacy goals, and values-aligned giving.
UI Charitable is purpose-built to work with advisors, not around them.
