Dear Advisor,
We are writing to inform you that we will be closing a group of our portfolios to new investors effective as of Friday, June 30, 2023. The following Morningstar® Managed PortfoliosSM* are impacted:
- All-Cap Equity (80/20, 65/35, 50/50)
- Capital Appreciation (80/20, 65/35, 50/50)
- Dividend (80/20, 65/35, 50/50)
- Dividend Non-MLP (80/20, 65/35, 50/50)
- Equity Income (80/20, 65/35, 50/50)
- Hare (80/20, 65/35, 50/50)
- Hare Non-MLP (80/20, 65/35, 50/50)
- Tortoise (80/20, 65/35, 50/50)
- Tortoise Non-MLP (80/20, 65/35, 50/50)
Please log into your accounts to see a list of impacted portfolios. After login, click on the “Account” tab and “Show Accounts.”
Existing investors will still be able to continue to invest in the current portfolios. Any proposals that have been created prior to the soft close date of Friday, June 30, 2023, have either six months from the proposal create date or until Saturday, September 30, 2023, to convert the proposals into new accounts, whichever comes first.
For new accounts we recommend considering our Unified Managed Account (“UMA”) strategies. Morningstar Wealth’s UMA’s provide increased flexibility for clients and offers potential cost savings. If this is also a more attractive solution for your existing clients, we are happy to help facilitate a transfer of funds. Please contact our support line for further assistance at +1 877 626-3227 or contact your local Morningstar representative.
We appreciate the trust and confidence that you have placed in us, and we remain committed to delivering the highest level of service and support to our clients. If you have any questions or concerns, please do not hesitate to reach out to our team, who will be happy to assist you.
Thank you for your continued support.
Best Regards,
Morningstar Wealth
Morningstar Investment Management Group®
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Morningstar Managed PortfoliosSM are offered by the entities within Morningstar’s Investment Management group, which includes subsidiaries of Morningstar, Inc. that are authorized in the appropriate jurisdiction to provide consulting or advisory services in North America, Europe, Asia, Australia, and Africa. In the United States, Morningstar Managed Portfolios are offered by Morningstar Investment Services LLC or Morningstar Investment Management LLC, both registered investment advisers, as part of a discretionary investment advisory service or as model portfolios to third party advisory programs on a discretionary or non-discretionary basis. Morningstar® Managed PortfoliosSM offered by Morningstar Investment Services LLC or Morningstar Investment Management LLC are intended for citizens or legal residents of the United States or its territories and can only be offered by a registered investment adviser or investment adviser representative.
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