In his keynote at MIC US 2024, Morningstar CEO Kunal Kapoor reflected on the company’s 40th anniversary, highlighting both continuity and adaptation in the financial industry. Despite significant changes over four decades, Morningstar remains dedicated to empowering investor success through innovative models, particularly in support of modern financial advisors.

Kapoor acknowledged persistent calls for industry disruption and emphasised the inevitability of change. He urged advisors to proactively evolve by highlighting the value of their advice and integrating advanced technologies. At Morningstar’s Innovation Lab, new advice analytics tools were showcased, designed to enhance client communication and demonstrate the superior suitability of advisors’ offerings.

Moreover, Kapoor highlighted demographic shifts in wealth control, noting increased influence from women and Gen Xers. He underscored the importance of adapting to these changes and leveraging technologies like artificial intelligence (AI). Kapoor referenced a study showing significant investor interest in AI-driven financial advice, stressing the potential for AI to complement rather than replace human advisors.

Looking ahead, Kapoor reassured attendees of MIC US 2024 of Morningstar’s commitment to their partnership over the next 40 years, promising continued support in proving advisor value and embracing technological advancements courageously.

Watch the session highlights below: