Morningstar Public/Private Select Series combines Morningstar Wealth's portfolio construction and due diligence with streamlined implementation through Envestnet

Morningstar (Nasdaq: MORN) today announced that its Morningstar Wealth division will make the Morningstar Public/Private Select Series available through Envestnet, giving financial advisors a streamlined way to implement professionally constructed portfolios spanning public and private markets.

Announced earlier this year, the Morningstar Public/Private Select Series was developed by Morningstar Wealth in collaboration with Apollo, Franklin Templeton and J.P. Morgan Asset Management to bring complementary public and private market capabilities together within a single portfolio framework. Morningstar Wealth applies a research-driven investment process to selecting and overseeing the underlying strategies, evaluating factors including manager experience, investment process, performance, fees, valuation methodology and liquidity, as well as how each investment complements the broader portfolio.

Morningstar CEO Kunal Kapoor said: “The value of private-market exposure depends on how it fits within the whole portfolio. Morningstar Wealth brings independent research, disciplined allocation, and ongoing oversight to that decision. By pairing that investment approach with Envestnet’s implementation capabilities, we’re giving advisors a more practical way to manage public and private investments together.”

Advisors on Envestnet’s enterprise platform will be able to access and implement the Morningstar Public/Private Select Series through the Fund Strategist Portfolios (FSP) program. Morningstar Wealth will remain responsible for asset allocation, investment selection, portfolio construction and ongoing oversight, while Envestnet will provide the technology and implementation infrastructure to help advisors put the models to work within client accounts.

Envestnet CEO Chris Todd said: “Private market exposure works best when it has a clear role alongside a client’s public investments, with risk and liquidity considered across the whole portfolio. Morningstar has collaborated with some of the top money managers to bring that portfolio thinking to six strategies spanning the risk spectrum. Envestnet automates the trading, rebalancing and tax management behind every account, so advisors can put these strategies to work at scale and keep each portfolio aligned to a client's goals.”

The availability of the Morningstar Public/Private Select Series through Envestnet marks the next phase for the portfolios, bringing Morningstar Wealth's public/private investment approach into a platform advisors already use to manage client portfolios. The series is expected to be available through Envestnet beginning this October, providing advisors with a more streamlined path from portfolio selection through implementation and ongoing management.

Morningstar and Envestnet are separate and unaffiliated firms. This material should not be construed as a recommendation or endorsement of any particular product, service, individual or firm.

About Morningstar Wealth

Morningstar Wealth is a global team dedicated to empowering both advisor and investor success. Our extensive range of offerings includes the Morningstar International Wealth Platform (TAMP), model portfolios and other advisory services offered by the Morningstar Investment Management team ($375 billion in assets under management and advisement*), Morningstar Investor (individual investor platform) and Morningstar.com. In the United States, advisory services are offered by Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc.

*Includes AUMA for advisory services offered by certain Morningstar subsidiaries that are authorized in the jurisdictions in which they operate to provide investment management and advisory services.

About Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers and owners, retirement plan providers and sponsors, institutional investors in the debt and private capital markets, and alliances and redistributors. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $375 billion in assets under management and advisement (AUMA) as of June 30, 2026. The Company operates through wholly- or majority-owned subsidiaries in 32 countries. For more information, visit www.morningstar.com/company.

About Envestnet

Envestnet is the leading Adaptive WealthTech company that helps advisors meet the moment with its comprehensive technology, insights, and industry-leading support. This empowers advisors to make smart decisions throughout every step of a client’s financial life. Backed by 25 years of experience and nearly $8.0 trillion in platform assets, Envestnet is trusted by over a third of all financial advisors across many leading banks, wealth managers, brokerages, and RIAs.

For a deeper dive into how Envestnet is shaping the future of financial advice, visit www.envestnet.com. Stay connected with us for the latest updates and insights on LinkedIn and X (Envestnet_).

Envestnet refers to the family of operating subsidiaries of the holding company, Envestnet, Inc.

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