Morningstar’s David Blanchett is making a move.
The high-profile head of retirement research with the Chicago-based Morningstar announced Monday he’s moving to quant shop QMA LLC., a division of PGIM.
Blanchett will be the firm’s managing director and head of retirement research to “help meet growing demand for defined contribution (DC) solution capabilities.”
“We have been focused on solving upcoming challenges in the retirement space,” QMA’s CEO Andrew Dyson said in a statement. “Over the next 10 years, income solutions will come to dominate the DC marketplace. David is a recognized retirement thought leader and his experience will be invaluable as we position ourselves for the future.”
“With $214 billion managed on behalf of defined contribution clients across multiple asset classes and vehicles, PGIM has a significant retirement focus,” added PGIM president and CEO David Hunt. “We are committed to providing best-in-class support to our clients and in delivering new and innovative retirement solutions founded on market-leading research.”
Impressive resumé
Blanchett has published over 100 papers in a variety of industry and academic journals. Blanchett’s research has received awards from several prestigious associations including the Academy of Financial Services (2017), the CFP Board (2017), the Financial Analysts Journal (2015), and the Financial Planning Association (2020).
“I am incredibly excited to join QMA given PGIM’s position as a leader in the retirement space,” Blanchett said. “I look forward to working alongside some of the brightest minds in the industry to develop new proprietary investment solutions to improve retirement outcomes for potentially millions of investors and DC participants.”
Blanchett is an adjunct professor of wealth management at The American College of Financial Services and was formerly a member of the ERISA Advisory Council.
As of March 31, QMA had approximately $119 billion in assets under management. QMA also manages the allocation of assets that underlie the glide path to the Prudential Day One Funds, launched in 2016, which currently has $5.5 billion in assets under management as of April 30.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
