Morningstar and Mercer Pair Up to Offer Data Platform

Scott Burns, the head of data research at Morningstar, says the alliance will offer a complementary set of data and research for Morningstar Direct users: data on asset managers pursuing broader distribution through retail channels, the current focus of Morningstar Direct, and data on asset managers that serve the institutional market — data that "operates on a higher level."

He says the new offering will "help solve disparate solution problems that advisors and institutions both have" from the data and research they receive. Advisors especially are "increasingly looking for more access to institutional managers," because of the drive for lower costs and the search for great managers made possible by advances in technology, adds Burns.

Dan Bristow, partner and global director of Mercer's Analytics, Research & Tools (ART) Group, tells ThinkAdvisor the new alliance is "transformative, [providing] a single lens for the entire investment industry" to achieve the mission of both Mercer and Morningstar: "better outcomes and informed investment decisions."

Rich Nuzum, global president of Mercer's wealth business, said in a statement that Mercer "chose to collaborate with Morningstar because they understand the changing landscape of financial advisors' needs."