Feed Authorization Process

Overview

Morningstar ByAllAccounts (BAA) provides data access based on the advisor or firm's identity and privileges, ensuring that only authorized users can access sensitive information. This approach is vital for information security and effective data management.

To access data from a data provider or custodian's feed via ByAllAccounts, an advisor or firm must undergo a feed authorization process. This procedure involves ByAllAccounts provisioning access to data specifically assigned to an advisor or firm. It requires the authorization of a unique identifier, which may be embedded within the feed file(s) or included in the file name. This identifier is crucial for determining ownership of data sets within a single file or across multiple files.

Once ByAllAccounts authorizes this unique ID, our system automatically generates a digital feed password. This password, along with the unique ID, is emailed to the requesting advisor or firm. These credentials are then used in AccountView to establish and manage automated data aggregation.

After initial setup by the advisor or firm, our system will continuously aggregate all data linked to the unique ID.

Feed Authorization with ByAllAccounts

The ByAllAccounts Advisor Feed Onboarding Hub is an essential companion for advisors and firms engaging in the feed authorization process with ByAllAccounts. It helps them navigate the varied procedures across different data providers. It includes specific instructions on how to link advisor or firm accounts to the ByAllAccounts system across all supported data providers.

Frequently Asked Questions

What is required to authorize feed access?

A unique identifier assigned by the data provider to identify the authorized entity that owns or is authorized to access a set of data, such as an advisor, firm, investor, or third party.

What is a unique identifier?

• A data value assigned by the data provider to identify ownership of a set of data.
• It may consist of letters, numbers, symbols, or any combination of these.
• It must represent an entity that has an established relationship with both the data provider and Morningstar ByAllAccounts.
  • This entity may be an advisor, firm, representative, investor, or authorized third party that will have the ability to view all data records associated to the unique identifier.
  • Common examples include a Rep Code, Firm Code, CRD Number, or DTCC ID, but the data provider may use any unique value.

Why does BAA need a unique identifier for data feeds?

BAA requires a unique identifier to provision data access to the appropriate data owner. This ensures that data associated with the unique identifier is only accessible to authorized users.

How is a unique identifier used?

Once the Unique Identifier is provided and successful file delivery is confirmed, BAA will provision access for the authorized user associated with the Unique Identifier. During provisioning, BAA authorizes the Unique Identifier in the application, which automatically generates a password that is sent directly to the user.

• The data provider must confirm and provide the Unique Identifier to both ByAllAccounts and the requesting advisor or firm.
• ByAllAccounts requires the following details from the data provider: Unique Identifier, entity name (firm, advisor, or representative), and entity contact information (email address).

To begin aggregation, the user enters their Unique Identifier and password in the BAA application.