Morningstar Partners with Apollo, Franklin Templeton, and J.P. Morgan to Launch Public/Private Model Portfolios
Event summary
- Morningstar Wealth is collaborating with Apollo, Franklin Templeton, and J.P. Morgan Asset Management to develop public/private model portfolios for financial advisors.
- The portfolios will integrate public market strategies from Franklin Templeton and J.P. Morgan Asset Management with private market strategies from Apollo and Franklin Templeton.
- Morningstar Wealth manages $370 billion in assets under management and will emphasize transparent pricing and accessible minimums.
- The initial models will include private credit and real estate exposures through interval funds, ranging between 12–20% of the models’ allocation.
The big picture
This collaboration aims to democratize access to private markets, which have historically been limited to institutional investors and ultra-high-net-worth individuals. The move reflects the growing demand for diversified portfolios that integrate both public and private market strategies, particularly in an environment of persistent inflation and structural uncertainty. Morningstar’s approach emphasizes research-driven allocations and transparent pricing, potentially setting a new standard for model portfolio construction.
What we're watching
- Market Adoption
- How quickly financial advisors will integrate these public/private model portfolios into their client offerings.
- Regulatory Scrutiny
- Whether the inclusion of private market exposures in individual investor portfolios will attract regulatory attention.
- Competitive Response
- The pace at which other asset management firms will develop similar public/private model portfolio offerings.
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