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An Update from Envestnet: Morningstar Changes

By April 13, 2021No Comments
Envestnet
  Dear Colleague,

We hope this message finds you well. As you may know, Morningstar recently announced some changes to its US-based investment style methodology. These changes are part of Morningstar’s semi-annual category review to ensure that all categories best represent each investment style’s classifications. Given the extent of these changes, we are getting in touch to be sure you have all the information you need and that you understand how Envestnet is planning to manage the remapping process.

What the Morningstar investment style category changes will mean to you
​​You may see the Morningstar changes impact your business in three ways:New investment categories are being addedExisting investment categories are being renamed and redefinedSome investment categories are being retiredOur timeline for the Morningstar category changes to map to the Envestnet platform
Envestnet is committed to implementing the Morningstar category changes to our internal processes as quickly as we can. We expect to receive new Morningstar data files the week of April 26, 2021, and we will start loading files and shifting to the new mapping then. You can expect to see all the new Morningstar category changes in place on the Envestnet platform by May 5, 2021.

Additional information
Here are two additional documents that might be valuable in helping you understand the changes:Envestnet 2021 Investment Style MethodologyEnvestnet Native Style Box ReferenceAs always, we thank you for your partnership. We are dedicated to working with you to ensure a smooth transition during this process. Please contact your Envestnet Service Team if you have any additional questions.

Best regards.
   
This announcement is not intended as and should not be used to provide investment advice and is not an offer to sell a security or a solicitation of an offer, or a recommendation, to buy a security. Investors should consult with an investment advisor to determine the appropriate investment vehicle. Investment decisions should always be made based on the investor’s specific financial needs and objectives, goals, time horizon, and risk tolerance. The statements contained herein are based upon the opinions of Envestnet and third party sources. Information obtained from third party sources are believed to be reliable but not guaranteed. All opinions and views constitute Envestnet judgments as of the date of writing and are subject to change at any time without notice. Envestnet reserves the right to add to, change, or eliminate any of the investment solutions, services and/or service levels listed herein without prior notice to the advisor or client. Envestnet does not render tax, accounting or legal advice. Past performance is not a guarantee of future results.

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