CHICAGO, Jan 08, 2001 Morningstar, Inc., a leading provider of investment information and analytical tools, today announced that John Rekenthaler has been named president of its Online Advice business unit. In this role, he will oversee the continued development and marketing of MorningstarSM ClearFutureSM, a modular Internet-based program that provides investment research, education, and guidance or advice to help individual investors plan for retirement.
"John was instrumental in developing ClearFuture, and his knowledge and expertise will be extremely beneficial to this business," says Joe Mansueto, chairman and CEO of Morningstar. "I am excited about his expanded role with ClearFuture, and I know he will do a terrific job as we take online advice into new territory."
Currently, ClearFuture is available to 401(k) participants in more than 7,000 plans the U.S. In the coming year, Rekenthaler will lead efforts to expand ClearFuture into other defined-contribution plan markets including 403(b) and 457 plans, adapt it to new markets and continue to enhance and refine the program.
"We believe MorningstarSM ClearFutureSM generated more revenues in its first year of operations than has any other online advice service," Rekenthaler said. "This will be a profitable business for Morningstar. We are here to stay."
Rekenthaler has served as director of research at Morningstar since 1998. Other positions he has held at Morningstar include editor of Morningstar Mutual FundsTM and Morningstar® FundInvestorTM. He writes extensively on investment topics and regularly contributes editorial content to Morningstars Web site for individual investors, Morningstar.com.
Rekenthaler received a bachelor of arts degree from the University of Pennsylvania and an M.B.A. with High Honors from the University of Chicago. He is a chartered Financial Analyst and a member of the Investment Analysts Society of Chicago.
About Morningstar, Inc.
Morningstar ClearFuture is offered by Morningstar Associates, LLC, a registered investment adviser and subsidiary of Morningstar, Inc. Chicago-based Morningstar, Inc. is an independent provider of reliable, unbiased investment information. Morningstar.com is listed among the top investing sites by publications such as The Wall Street Journal, Barrons, SmartMoney, Money, Forbes, Worth, and U.S. News & World Report. Morningstar provides investment information for a number of leading Web sites, including Microsoft Money Central, Quicken.com, America Online, Yahoo! Finance, and Netscape Personal Finance.