Morningstar's nearly 20-year span of unbroken growth came to a halt in recent months after security regulators began to probe the firm's new business ventures, Dow Jones Newswires reports.

Experts say the leveling off of new business development at Morningstar is a byproduct of steps to expand too quickly. Increased silence at the company in recent months could also be a byproduct of concern over its forthcoming initial public offering, one expert noted.

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.