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529 Plan Center Now Available on MorningstarAdvisor.com

CHICAGO, Dec 04, 2001 – Morningstar, Inc., a leading provider of investment information and analytical tools, today launched a 529 Plan Center on MorningstarAdvisor.com, the firm's Web site for financial advisors. 529 plans allow investors to save for their children's college expenses with significant tax advantages.

According to Cerulli Associates the 529 plan market is expected to grow to $51 billion by 2006. Morningstar's 529 Plan Center offers both editorial content on issues advisors face when using 529 plans and industry-specific data provided by SavingforCollege.com, a leading 529 plan educational resource. The center will offer the following information on every 529 plan:

  • State Tax - Tax information on contributions and qualified withdrawals   
  • Contributions- Maximum and minimum contributions   
  • Operations - Sponsoring state, investment managers, eligibility for non-residents, and mandatory fees

"529 plans are the most convenient and cost-effective means for clients to save for their children's college expenses. With nearly 40 states offering unique plans, choosing the right one has become an arduous task for advisors," said Chris Boruff, president of Morningstar's advisor business. "MorningstarAdvisor.com's new 529 Plan Center offers a database of detailed information on these plans, allowing advisors to rank them by certain characteristics and easily compare their options."

About Morningstar 

Chicago-based Morningstar Inc. is a leading, independent provider of investment information and analytical tools. Morningstar supplies a variety of products and services to professional investment advisors, including Morningstar® Advisor WorkstationSM, a comprehensive set of online tools for investment planning professionals, Morningstar® Principia® Pro investment management software, Morningstar Mutual Funds™, the annual Morningstar Investment Conference, and the Morningstar Professional Education Series

Morningstar Principia Pro, first introduced in 1996, is one of the most popular resources in the financial planning industry. Principia Pro's exclusive Multi-Asset Portfolio Developer takes a real world portfolio containing any mixture of investments and analyzes them as one cohesive unit. 

Morningstar's Web site for advisors, MorningstarAdvisor.comSM (http://www.advisor.morningstar.com), was launched in mid-2000 and currently has more than 65,000 registered users. MorningstarAdvisor.com offers Morningstar Reports on more than 40,000 stocks, mutual funds, exchange-traded funds, and variable/annuity subaccounts. MorningstarAdvisor.com's Due Diligence Center helps advisors streamline the process of comparing due diligence information from different mutual fund families by establishing an industry-standard format and a database of Due Diligence Questionnaires (DDQs) on individual investments from a growing list of institutions.

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