Paul Jordan Arnold

Morningstar Investment Management LLC is a SEC-registered investment advisor headquartered in Chicago, Illinois. The firm was founded in 1999 and is a wholly-owned subsidiary of Morningstar, Inc. (NASDAQ: MORN). Morningstar Investment Management offers various investment advisory services that focus on their core capabilities in asset allocation, investment selection, and portfolio construction to financial or other institutions.

Founded in 1977, Ibbotson Associates Advisors LLC is a registered investment advisor located in Chicago, Illinois. The firm is a subsidiary of Morningstar, Inc. (NASDAQ: MORN). Their clients include mutual fund firms, banks, broker/dealers and insurance companies around the world.