For years, Morningstar has been the lay investor's resource for mutual fund information. It helps individuals sift through thousands of funds to find the right ones, using a simple ratings system. But as the investment world splits into the well-heeled who seek out advice and fancy investment vehicles on one end, and fee-conscious folks searching out cheaper index funds and ETFs on the other, Morningstar Chief Executive Officer Joe Mansueto is pushing toward the pros, where the growth is. Serving advisers and institutions, he argues, "is a natural extension of our business."
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