---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-073194"
form_type: "8-K"
ticker: "MORN"
cik: "0001289419"
company_name: "Morningstar, Inc."
filed_at: "2024-06-20T23:59:59+00:00"
generated_at: "2026-06-01T03:15:55.782504+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Morningstar to sell $12B TAMP to AssetMark, expects positive run-rate adjusted operating income impact

## Summary
- AssetMark to acquire ~$12B in assets from Morningstar Wealth's U.S. TAMP; upfront payment at close plus contingent payments.
- Morningstar Wealth advisors get access to AssetMark's platform; AssetMark advisors gain Morningstar models ($290B AUMA).
- Morningstar to sunset U.S. TAMP after close (H2 2024); focus on international wealth platform and third-party distribution.
- Expects reduced revenue post-close but positive run-rate impact on adjusted operating income after 12-month transition.
- Transaction approved by both boards; expected to close H2 2024 subject to regulatory approvals and customary conditions.

## SEC filing metadata
- accession: 0001104659-24-073194
- form_type: 8-K
- ticker: MORN
- cik: 0001289419
- company_name: Morningstar, Inc.
- filed_at: 2024-06-20T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1289419/000110465924073194/0001104659-24-073194-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1289419/000110465924073194/tm2417546d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-073194
- JSON: https://secwatch.observer/filing/0001104659-24-073194.json
- Plain text: https://secwatch.observer/filing/0001104659-24-073194.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.