Morningstar -based investment management and advice firm Morningstar has caused a stir by filing with CFRA to launch nine mutual funds for its managed portfolios that are purely for financial advisers. “Morningstar is seen as an objective reviewer of investment products and funds, and this looks like they are getting into becoming a money manager,” he added. Morningstar said the new sub-advised in-house funds would improve flexibility and simplicity for clients, and reduce investor fees by about 20% . Todd Rosenbluth , director of mutual fund and CFRA research at analysts ETF , warned Todd Rosenbluth it could be storing up conflicts of interest for the future. The funds, if approved, could launch any time from October .
Morningstar -based investment management and advice firm Morningstar has caused a stir by filing with CFRA to launch nine mutual funds for its managed portfolios that are purely for financial advisers. Morningstar said the new sub-advised in-house funds would improve flexibility and simplicity for clients, and reduce investor fees by about 20% . Todd Rosenbluth , director of mutual fund and CFRA research at analysts ETF , warned Todd Rosenbluth it could be storing up conflicts of interest for the future. The funds, if approved, could launch any time from October .