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Morningstar Wealth is made available through Morningstar’s Investment Management Group and includes such products as: (i) the Morningstar Wealth Platform; (ii) Morningstar OfficeSM, Morningstar’s RIA portfolio software service; (iii) Morningstar® ByAllAccounts®, Morningstar’s investment data aggregation service; and (iv) Morningstar.com®, Morningstar’s individual investor site offering.
Morningstar’s Investment Management Group consists of certain Morningstar subsidiaries that are authorized in the jurisdictions in which they operate to provide investment management and advisory services. In the United States, these subsidiaries are Morningstar Investment Management LLC and Morningstar Investment Services, LLC.
Morningstar Wealth Platform is an advisory platform offered by Morningstar Investment Services LLC, a registered investment adviser and subsidiary of Morningstar Investment Management LLC. Through the Morningstar Wealth Platform, Morningstar Investment Services offers model portfolios and separately managed accounts (“SMA”) which include proprietary managed portfolios (“Morningstar Portfolios”), third-party asset manager portfolios where a third-party asset manager acts as a non-discretionary model provider (“Model Provider”) in which Morningstar Investment Services has discretion, and third-party asset manager portfolios where third-party asset manager acts as a discretionary asset manager (“Sub-Adviser”). The Morningstar Wealth Platform is intended for citizens or legal residents of the United States or its territories and can only be offered by a registered investment adviser or investment adviser representative.
Portfolio construction and ongoing monitoring and maintenance of the Morningstar Portfolios within the Morningstar Wealth Platform is provided on Morningstar Investment Services behalf by Morningstar Investment Management LLC.
Model Providers are third-party asset managers providing model portfolios to Morningstar Investment Services for inclusion in the Morningstar Wealth Platform. Model Providers do not have any contractual, fiduciary, investment advisory or other relationship with the financial advisers or clients utilizing their model portfolios through the Morningstar Wealth Platform. Model Providers have no obligation or responsibility for determining the appropriateness or suitability of a model or any of the securities included therein, for any specific client. Morningstar Investment Services has full discretion to invest clients in accordance with the model or deviate from the model provided by the Model Providers. The Model Providers are not affiliated with Morningstar Investment Services LLC.
It is important to note that investments in securities (e.g., mutual funds, exchange-traded funds, common stocks) involve risk and will not always be profitable. There is no guarantee that the results of advice, recommendations, or the objectives of your portfolio will be achieved. There is no guarantee that negative returns can or will be avoided in any of Morningstar Portfolios. An investment made in a security may differ substantially from its historical performance and as a result, you may incur a loss. Past performance is no guarantee of future results. Diversification does not eliminate the risk of experiencing investment losses.
Investment research is produced and issued by subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with the U.S. Securities and Exchange Commission.
Sustainalytics is an environmental, social, and governance and corporate governance research, ratings, and analysis firm. Morningstar acquired Sustainalytics in 2020. Sustainalytics provides ESG scores on companies, which are evaluated within global industry peer groups, and tracks and categorizes ESG-related controversial incidents on companies. Morningstar uses Sustainalytics’ company level ESG analytics to calculate ratings for managed products and indexes using Morningstar’s portfolio holdings database.
* Data as of March 31, 2023. AUM/AUA is rounded to the nearest billion. Includes assets under management and advisement for Morningstar Investment Management LLC, Morningstar Investment Services LLC, Morningstar Investment Management Europe Ltd., Morningstar Investment Management Australia Ltd., Ibbotson Associates Japan KK, Morningstar Associates, Inc., Morningstar Investment Adviser India Private Ltd., and Morningstar Investment Management South Africa (PTY) LTD all of which are subsidiaries of Morningstar, Inc. Advisory services listed are provided by one or more of these entities, which are authorized in the appropriate jurisdiction to provide such services.