Morningstar Inc. has acquired Moorgate Benchmarks, a privately held London-based global provider of index design, calculation and administration. ETFS Capital provided seed funding to Moorgate Benchmarks in 2019 and had been its sole external investor.
Moorgate has become a wholly owned subsidiary of Chicago-based Morningstar. Its 20 employees, based in the UK and Germany, have joined Morningstar’s index business. Tobias Sproehnle, chief executive at Moorgate Benchmarks, will also become head of Morningstar Indexes in Europe.
Financial terms of the transaction were not disclosed.
Surveys show continued misconceptions and pessimism about the program, as well as bipartisan support for reforms to sustain it into the future.
With doors being opened through new legislation and executive orders, guiding clients with their best interests in mind has never been more critical.
Meanwhile, Stephens lures a JPMorgan advisor in Louisiana, while Wells Fargo adds two wirehouse veterans from RBC.
Large institutions are airing concerns that everyday investors will cut into their fee-bargaining power and stakeholder status, among other worries.
Fights over compensation are a common area of hostility between wealth management firms and their employees, including financial advisors.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
