Morningstar Investment Services LLC

CRD#112525
Investment Advisor Firm

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Learn more about Morningstar Investment Services LLC

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Morningstar Investment Services LLC is located at 22 West Washington Street, Chicago, IL. The firm employs 41 financial advisors to manage client portfolios and provide financial guidance. Morningstar Investment Services LLC is a registered broker-dealer.

    Morningstar Investment Services LLC oversees $12.0 billion in assets under management across 59,686 accounts, all of which are discretionary. The services offered include portfolio management for individuals and small businesses, portfolio management for institutional clients, and the selection of other advisers. The firm caters to retail investors, high net worth investors, pension plans, charitable organizations, and corporations, with retail investors being the largest client type by accounts. The fee structure at Morningstar Investment Services LLC includes asset-based, fixed, and other fees. The firm has 1,599 high net worth clients and maintains affiliations with a commodity pool advisor.

    Morningstar Investment Services LLC is registered in the states of Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.

    Assets Under Management

    $12.0 billion

    Number of Advisors

    41

    Disclosures

    No

    Office Location

    22 West Washington Street
    Chicago, IL 60602-1605

    Morningstar Investment Services LLC by the Numbers

    Total Assets Under Management

    $12.0 billion

    National Average: $8.6 billion
    Total Number of Employees

    69

    National Average: 64
    Total Number of Accounts

    59,686

    National Average: 375,227
    Average Account Size

    $200.6 thousand

    National Average: $23.0 thousand
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    Products and Services

    Morningstar Investment Services LLC offers multiple services, which can include portfolio management for individuals and small businesses, portfolio management for institutional clients, and selection of other advisers. Notably, Morningstar Investment Services LLC did not provide any of its clients with financial planning services in the previous financial year. The Company does not sell products or offer services apart from investment advice to its investment advisory accounts.

    Core Advisor Services

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      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 46% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

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      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 20% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

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      Publication of Periodicals

      This is the publication of various financial education materials.

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      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    A financial advisor's fees largely vary depending on which services the firm provides the client. Fees charged by Morningstar Investment Services LLC most likely consist of some combination of the following fee types: asset-based, fixed, or other. The company does participate in a wrap fee program, in which the company offers a bundle of services for a single fee.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Offered by 32% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    • Offered by 10% of firms

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

    Unavailable

    • Find one of the 21% of firms that offer this fee type

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

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    Types of Clients

    The company does business with a broad range of customers. The company caters to retail investors, high net worth investors, pension plans, charitable organizations, corporations, and other. Out of its 6 clients, Morningstar Investment Services LLC's biggest client group by number of accounts is retail investors, but it also serves 1599 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 under management or a net worth of more than $1,50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments).

    • High-Net-Worth Individuals* - 3.47%
    • Other Individuals - 96%
    • Corporations - 0.51%
    • Charitable Organizations - 0.02%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Morningstar Investment Services LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Morningstar Investment Services LLC

    Rebecca Bennett
    Chicago, IL
    Michael Grover
    Chicago, IL
    Madeline Rapp
    Chicago, IL
    Robert Mccabe
    Chicago, IL
    Sara Kasun-Fretz
    Chicago, IL
    Robert Mizaur
    Chicago, IL
    Jeffery Van Dyke
    Chicago, IL
    Timothy Bottomly
    Chicago, IL
    Edward Reynolds
    Chicago, IL

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