Morningstar, Inc. and its subsidiaries engage in the collection, analyzing, and sale of financial information regarding mutual funds, variable annuities, and equity securities in the United States and international markets. It offers a line of Internet, software, and print-based products for individual investors, financial advisors, and institutional clients. The company operates through three segments: Individual, Advisor, and Institutional. The Individual segment's products include U.S.-based Web site, Morningstar.com; and independent equity research for the individual investor. The Advisor segment's products include Morningstar Advisor Workstation, a Web-based investment planning system; and Principia, a CD-ROM-based investment research product primarily for financial advisors. The Institutional segment's primary product includes Morningstar Direct, a set of Web-based research tools that combine advanced performance and holdings-based analysis with access to its proprietary statistics. This segment focuses on institutional clients, including banks, brokerage firms, insurance companies, mutual fund companies, and retirement plan providers and sponsors. Morningstar, Inc. was established by Joe Mansueto in 1984. The company is headquartered in Chicago, Illinois.
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