[6] However, it was only after a year working as a stock analyst for Harris Associates, seeing the fund industry and potential competitors up close, that he was convinced that the opportunity was there.

[21] In 2020, Morningstar entered into an agreement to acquire Sustainalytics, a research and ratings firm specializing in environmental, social, and governance (ESG) insights.

[23] In 2021, Morningstar announced it would acquire the UK and international (including Jersey, Hong Kong and Dubai) operations of the Australian wealth management platform Praemium (ASX: PPS) for £35 million.

[5] Morningstar Direct is a software platform that provides data and analytics to help professional investment managers craft new products and portfolios.

The software allows financial advisors to manage their practice, gain access to data and research, analyze investments, and connect with investors.

[27] The firm offers retail and individual investors with access to news, research, and stock, bond, and mutual fund analysis through its 'Morningstar Premium' subscription product.

[28] In 2010, Morningstar acquired Realpoint, LLC, a former division of private-equity giant Capmark Finance and a one-time nationally recognized statistical rating organization (NRSRO).

In October 2017, the Wall Street Journal published a front-page feature story criticizing Morningstar's influence and questioned the predictive power of the firm's rating system.

[35] The design features the "o" in Morningstar appearing as a rising sun, which is a nod to a Henry David Thoreau quote that inspired the company's name.