SEC-registered firm
Registration does not mean the SEC approves or recommends the firm, and it does not imply a certain level of skill or training.
Morningstar Investment Management LLC
Chicago, IL
CRD 108031
Firm filing updated August 18, 2026 ·
- $87.8BAssets
- 515,981Clients
- 52Advisory staff
- 515,981Accounts
Fees and minimums
All fee types on the form
- Percentage of assets under managementYes
- Fixed feesYes
- OtherYes
- Hourly chargesNo
- Subscription fees (for a newsletter or periodical)No
- CommissionsNo
- Performance-based feesNo
Who the firm serves
- Individuals512,688
- High net worth individuals3,271
- Investment companies3
- Pension and profit sharing plans3
- Pooled vehicles1
See the client table
| Client type | Approximate number of clients | Assets |
|---|---|---|
| Individuals (other than high net worth) | 512,688 | $35.6 billion |
| High net worth individuals | 3,271 | $4.0 billion |
| Investment companies | 3 | $6.2 billion |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 3 | $12.2 billion |
| Other: "PLAN SERVICE PROVIDERS" | 15 | $29.8 billion |
What the client labels mean
Here, "individuals" includes trusts, estates, and IRAs of individuals. A "high net worth individual" is a qualified client or qualified purchaser.
Services
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles (other than investment companies)
See all 6 services
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisors (including private fund managers)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisors (including private fund managers)
Assets and accounts
- Regulatory assets$87.8 billion
- Accounts515,981
- DiscretionaryAll accounts
People
- Employees267
- Advisory staff52
- Broker-dealer reps0
- Licensed insurance agents0
- Planning clients0
Advisors
15 advisors with a profile on Advisable
Listed A to Z by last name. Not a ranking.
Registration details
- SEC-registered investment advisor. CRD 108031, SEC file 801-56896.
- Registered with the SEC as an investment advisor (status date on record: October 18, 1999).
Is Morningstar Investment Management LLC a fiduciary?
Short answer: Morningstar Investment Management LLC is registered with the SEC as an investment advisor.
More detail
The SEC put it this way in 2019: 'Under federal law, an investment adviser is a fiduciary.'
The firm does not report commissions, a broker-dealer role, a related broker-dealer, or staff who are broker-dealer representatives.
The firm's Form CRS explains its services, fees and conflicts in plain language: Form CRS.
About this data
Informational only. Advisable Finance is not an investment advisor, does not give investment advice, and does not endorse any advisor.