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Profile: Morningstar Inc (MORN.OQ)

MORN.OQ on NASDAQ Stock Exchange Global Select Market

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24 Apr 2017
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Morningstar, Inc., incorporated on May 16, 1984, is a provider of independent investment research in North America, Europe, Australia and Asia. The Company focuses on creating products that help investors reach their financial goals. The Company offers a range of data, software, research, and investment management offerings for financial advisors, asset managers, retirement plan providers and sponsors, and individual investors. It also provides data on the private capital markets. It provides data and research insights on a range of investment offerings, including managed investment products, publicly listed companies, private capital markets, and real-time global market data. It conducts its business operations outside of the United States through subsidiaries based in countries, including Australia, Brazil, Canada, Chile, Denmark, France, Germany, India, Italy, Japan, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, People's Republic of China (both Hong Kong and the mainland), Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, the United Arab Emirates, and the United Kingdom.

Morningstar Data

Morningstar Data gives institutions access to a full range of investment data spanning various investment databases, including real-time pricing and market data. It offers licenses and data feeds for its statistics, such as the Morningstar Style Box and Morningstar Rating, and a range of other data, including information on investment performance, risk, portfolios, operations data, fees and expenses, cash flows, and ownership. Institutions use Morningstar Data in a variety of investor communications, including Websites, print publications, and marketing fact sheets, as well as for internal research and product development. It also offers Morningstar Data for equities, including financial statement data, consolidated industry statistics, stock ownership information, and Morningstar statistics.

Morningstar Investment Management

The Morningstar Investment Management product line includes offerings, such as Morningstar Managed Portfolios, as well as services for institutional asset management, asset allocation, and manager selection. Morningstar Managed Portfolios is a fee-based discretionary asset management service that includes a series of mutual fund, exchange traded fund (ETF), and stock portfolios tailored to meet specific investment time horizons and risk levels. It offers this service through Morningstar Investment Services LLC, a registered investment advisor, registered broker-dealer. It offers Morningstar Managed Portfolios to fee-based independent financial advisors. These advisors are affiliated with the corporate registered investment arms of insurance companies and independent and registered broker-dealers. It also provides other institutional asset management services for asset management firms, broker-dealers, and insurance providers, which it offers through a variety of entities in Australia, Dubai, France, Hong Kong, India, Japan, South Africa, South Korea, the United Kingdom, and the United States. These services include institutional asset management, asset allocation, and manager selection services, which are investment recommendations delivered as select lists, based on a process that draws on its rated universe and manager selection methodology.

Morningstar Advisor Workstation

Morningstar Advisor Workstation, a Web-based investment planning system, provides financial advisors with a set of tools for conducting their business, including investment research, planning, and presentations. It allows advisors to build and maintain a client portfolio database that can be fully integrated with its back-office technology and resources. It also helps advisors create customized reports for client portfolios that combine different types of investments. It is available in two versions: Morningstar Office for independent financial advisors and an enterprise version for financial advisors affiliated with larger firms. As of December 31, 2016, approximately 4,300 financial advisors in the United States were licensed to use Morningstar Office, and approximately 175 companies held licenses for the enterprise version of Morningstar Advisor Workstation.

Workplace Solutions

The Workplace Solutions product line includes different offerings, including retirement advice and managed accounts, plan sponsor advice, custom models, and financial wellness services. Its advice and managed accounts program, Morningstar Retirement Manager, helps retirement plan participants with their retirement goals. As part of this service, it delivers personalized recommendations for a target savings goal, a recommended contribution rate to help achieve that goal, a portfolio mix based on risk tolerance, and specific investment recommendations. Participants build their own portfolios based on its recommendations or elect to have their accounts managed by it through its managed retirement account offering. In its plan sponsor advice business, it works with retirement plan sponsors to help them meet their fiduciary obligations by selecting and monitoring a range of diversified plan options. It serves as a non-discretionary subadvisor and index provider for the Morningstar Lifetime Allocation Funds, a series of target-date collective investment trust funds (CITs) offered by UBS Asset Management to retirement plan sponsors. Retirement plan sponsors can select a conservative, moderate, or growth version of the funds based on the needs of participants in the plan. Through HelloWallet, it offers personalized financial guidance to individuals and their families through their employer benefit plans. HelloWallet helps employees build a financial foundation by providing them with tools for emergency savings, debt management, and budgeting.

Morningstar.com

The Company's Website for individual investors is Morningstar.com. As of December 31, 2016, in addition to its United States-based site, it offered over 30 regional investing Websites customized to the needs of investors. It also offers paid Premium Membership, which includes access to written analyst reports on stocks, mutual funds, ETFs, and closed-end funds, as well as its portfolio X-Ray, asset allocation and portfolio management tools, stock data, stewardship grades and ratings, and stock and fund screeners. It offers membership services in Australia, Canada, Italy, the United Kingdom, and the United States. As of December 31, 2016, the free membership services offered through Morningstar.com had 10.9 million registered users. As of December 31, 2016, it also had approximately 118,000 paid Premium subscribers for Morningstar.com in the United States plus an additional 15,000 paid Premium subscribers in other global markets.

Morningstar Enterprise Components

Morningstar Enterprise Components is a set of tools and capabilities that help institutional clients build customized Websites or enhance their existing solutions. It offers a series of components, editorial content, and reports that investment firms can license to build or enhance their Websites for financial advisors and individual investors. It also offers licenses for investment research, editorial content, and portfolio analysis and comparison tools that allow users to drill down into the underlying data when researching a potential investment.

Morningstar Research

The Company offers Morningstar Research, including equity research and manager research, through Morningstar Research Services LLC and other subsidiaries outside the United States. It offers equity research to institutional investors using it to supplement their own research, as well as to broker-dealers who provide its research to their affiliated financial advisors or individual investor clients. Its Manager Research services help institutional investors and manager research due diligence teams evaluate funds, investment strategies, and asset management firms. In manager research, it expanded its market efforts with wealth management firms to highlight how it can help meet the workflow needs of their due diligence groups. Its due diligence offering combines its analyst research content, analyst access, and qualitative ratings with screening, alerting, and scorecard capabilities in Morningstar Direct.

PitchBook Data

PitchBook Data, Inc. provides data, research, and technology covering the private capital markets, including venture capital, private equity, and mergers and acquisitions (M&A). PitchBook's product is the PitchBook Platform, an all-in-one research and analysis workstation for investment and research professionals. The software is used by professionals to source deals, raise funds, build buyer lists, create benchmarks, network, and more. PitchBook also offers a mobile application, excel plug-in, data feeds, and flexible, a la carte data solutions that allow clients to access a variety of data points on demand.

Morningstar Credit Ratings

Morningstar Credit Ratings, LLC is a nationally recognized statistical rating organization (NRSRO) that provides issue and surveillance ratings and analysis for structured credits, as well as operational risk assessment services. It provides ratings on a range of structured finance securities, including commercial mortgage-backed securities, residential mortgage-backed securities, single-family rental securities, and asset-backed securities.

Morningstar Indexes

The Company offers a set of investment indexes that can be used to benchmark the market and create investment products, including indexes that track the United States market by capitalization, sector, and investment style; dividend indexes; active equity indexes based on its equity research; bond indexes; commodity indexes; hedge fund indexes, and asset allocation indexes. Its Open Indexes Project offers asset managers and other firms the ability to benchmark their investments against over 100 Morningstar global equity indexes for free. The indexes include equity benchmarks across sectors, styles, and regions. Participants will receive price return, total return, net return, and month-end constituent data for indexes included in the project. It licenses Morningstar Indexes to institutions that offer ETFs and exchange-traded notes based on the indexes. Firms can license Morningstar Indexes for both product creation (where it receive the greater of a minimum fee or basis points tied to assets under management) and data licensing (where it receive annual licensing fees). It also offers various other products and services, including Morningstar investment profiles, Morningstar commodity data, print and online publications and Morningstar enterprise data management.

The Company competes with Activ Financial, Bloomberg, FactSet, Financial Express, Interactive Data, S&P Global, Thomson Reuters, Xignite, AssetMark, Brinker Capital, Envestnet PMC, Loring Ward, SEI Investments, Mercer, Callan, Wilshire Associates, Black Diamond, Orion Advisor Services, Financial Engines, Guided Choice, Learnvest, Personal Capital, Betterment, Wealthfront, Vanguard, Fidelity, T. Rowe Price, The Motley Fool, Seeking Alpha, TheStreet.com, Yahoo! Finance, Data Corporation, Markit on Demand, CFRA Research, Mercer, Willis Towers Watson, CB Insights, Dow Jones VentureSource, Prequin, DBRS, Fitch, Kroll Bond Ratings, Moody's, FTSE Russell, MSCI and S&P Dow Jones Indices.

Company Address

Morningstar Inc

22 W Washington St
CHICAGO   IL   60602-1605
P: +1312.6966000
F: +1312.6966009

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