Business UpdateJun 25, 2026, 04:47 PM
Morningstar Details PitchBook Client Mix, AI Connector Adoption
AI Summary
Morningstar, Inc. released an Investor Q&A providing updates on its business operations. The company detailed the widespread use of its Star and Medalist Ratings in investment due diligence, including an agreement with a major US wealth manager. Morningstar also provided a breakdown of PitchBook clients by firm type as of March 2026 and reported encouraging adoption of its Model Context Protocol (MCP) connectors for AI tools, with 17% of PitchBook client accounts accessing the connector.
Key Highlights
- PitchBook client base as of March 2026: 28% Company, 37% Investor, 27% Service Provider.
- Approximately 17% of PitchBook client accounts accessed the MCP AI connector as of June 2026.
- Morningstar Direct MCP connector has hundreds of clients and a strong trial pipeline.
- Medalist Rating used by top US wealth manager with over $4 trillion in client assets.
- Morningstar Essentials is often cross-sold with additional managed investment data and tools.
Price Impact
More from MORN