plans to bring its selection tool to mutual fund territory. Founder and managing director Robert Padgette
told the MFWire that the company has entered into an agreement with Morningstar last month to incorporate the investment research firmís mutual fund data in Klein Decisionsí upcoming product geared towards advisors.
The new tool, called K4 Mutual Fund Selection
, will be unveiled in March or April, Padgette said.
Raleigh, North Carolina-based Klein Decisions last month rolled out the K4 Manager Selection
, a web-based tool which enables advisors to conduct manager searches using preference ranking rather than filtering.
The feedback for that product has been "very good," Padgette said.
Like its cousin, the yet-to-be-released tool would allow advisors to choose the criteria that they deem important. The system will then weigh the relative importance of the criteria and rank all available funds from most to least preferable.
Unlike filtering, the use of preference ranking ensures that no potentially good fund will be eliminated from consideration if it narrowly misses one of the criteria, Padgette explained
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