Morningstar, Inc. has announced that it has acquired RequiSight, LLC, which does business as RightPond, from Norwalk, Connecticut-based Rocaton Investment Advisors, LLC, an institutional investment advisor.
Rocaton developed the system that is RightPond back in 2014; RightPond is a provider of business intelligence data and analytics on defined contribution and defined benefit plans for financial services firms.
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The advisory firm later spun off RightPond as the independent company RequiSight.
Terms of the agreement were not disclosed.
According to RightPond's website, the RightPond data module "provides insights into the DB/DC retirement universe from four perspectives": plan view, product view, sponsor view and vendor view (that last providing a look at vendors by fees).
It also provides data on U.S. public plans, endowments and foundations, including investment lineups and aggregate assets under management in excess of $7 trillion. Data points for public, foundation and endowment plans include sponsor and consultant contact information, placement policy, manager rosters and target asset allocation.
Morningstar characterized RightPond as "a business intelligence and analytics capability that reveals gaps, trends, outliers, and risk signals regarding plan performance, fees, capital flow, gatekeeper relationships, and best practices of defined contribution and defined benefit plans.
These plans include corporate retirement plans, including pensions, 403(b)s, and 401(k)s; health and welfare plans; public pension funds; foundations; endowments; and other institutional investors."
Morningstar said that it will continue to offer RightPond as a standalone capability until it is integrated into Morningstar Data and Morningstar Direct, the company's cloud-based investment analysis platform for institutions and advisors. Eventually, the company will rebrand RightPond under the Morningstar name.
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