---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-027795"
form_type: "8-K"
ticker: "MORN"
cik: "0001289419"
company_name: "Morningstar, Inc."
filed_at: "2025-03-25T23:59:59+00:00"
generated_at: "2026-05-24T05:33:58.436356+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Morningstar launches Direct Advisory Suite, details M&A and AI in investor Q&A

## Summary
- Direct Advisory Suite launched Jan 2025; all Advisor Workstation clients to migrate by 2026, price increases possible.
- Morningstar Office retired; clients transitioning to SS&C Black Diamond; Addepar not viewed as competitor.
- M&A focuses on adjacencies; recent buys include Lumonic (private credit) and Dealview (CMBS/CLO data).
- EU Omnibus proposals to streamline CSRD; Morningstar expects no material impact in 2025.
- Executive comp: TSR hurdle at 20% (since 2020), MSUs vest 0% if TSR negative 13.33%.

## SEC filing metadata
- accession: 0001104659-25-027795
- form_type: 8-K
- ticker: MORN
- cik: 0001289419
- company_name: Morningstar, Inc.
- filed_at: 2025-03-25T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1289419/000110465925027795/0001104659-25-027795-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1289419/000110465925027795/tm2510342d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-027795
- JSON: https://secwatch.observer/filing/0001104659-25-027795.json
- Plain text: https://secwatch.observer/filing/0001104659-25-027795.txt

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