Morningstar Managed Portfolios is a fee-based investment-management program, which will initially feature mutual-fund portfolios, researched, engineered, and monitored by Morningstar Investment Services, as well as back-office operations and support services.
An online solution will provide complete client account management capabilities and marketing and sales support.
Client portfolios will be continuously monitored, rebalanced and adjusted based on market performance and portfolio information.
The group has entered into an agreement with online brokerage clearing and trade-execution firm, Fleet/US Clearing, to offer the program to financial advisors, including its 275 correspondent broker-dealer clients.
The new program is scheduled for launch in the fourth quarter and separate accounts, allowing for portfolios to be created using mutual funds, will be added next year.