Fund research usually happens somewhere other than the client record. A shortlist gets built in one system, exported, then rebuilt as a recommendation in another. The reasoning behind the selection stays where it was produced. Wealthcraft Research is Morningstar’s fund research module, and it is worth being precise about what it is not. Morningstar is clear that this is not a replacement for the desktop research application it retired, nor an attempt to replicate it. It is a different product with a different purpose, built as research inside the practice management system, and its stated design intent is to cut the number of separate tools a firm runs. Advisers and paraplanners use it for fund selection, and in-house investment teams for the analysis underneath.