Chicago-based Morningstar has long been well positioned to service 401(k) and other defined contribution plan providers with investment advice. Now, it is reaching into the large plan sponsor arena with its purchase of privately held mPower, a San Francisco company that provides online advice to participants of defined contribution plans.

Founded in 1995, mPower specializes in serving the large plan sponsor retirement market and was a pioneer in providing online retirement advice. Morningstar began offering online services in 2000 with a product called ClearFuture.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.