Morningstar Premium reports costs $29.95 per month for subscribers, but there is a way to get much of Morningstar Premium free!
How To Get Free Morningstar Reports
Stock research and mutual fund research are important ingredients of a successful investing portfolio. However, for investors who are not continuously adding new investments to their stock portfolio or mutual funds portfolio, the ongoing cost of Morningstar may not be worth it. Fortunately, there is a legal way to get free Morningstar access so you can see if that Coca Cola dividend stock is the way to go or if you should look for other dividend stock investing opportunities.
Free Morningstar Access From Libraries
It turns out that some public library systems offer Morningstar for free among their online database offerings. Here in Colorado, I know that both the Douglas County Library system and the Denver Public Library system offer free Morningstar reports for their library card holders as well as other free library perks.
The Morningstar access is not easy to find on either library’s website, but it is there under Research or Databases.
The free Morningstar access includes not just the usual online stuff, but the commonly used one-page report as well.
Of course, the library isn’t the only way to get free Morningstar access. For example, you can get free Morningstar access with the services of many financial advisors and financial planners. Some brokerages also offer some access to Morningstar, although it isn’t always complete access.
Note that even though you can get free Premium Morningstar access, it is not access to the licensed professionals version. The non-professional version is still missing many of the professional features in large part due to various regulations that require extensive disclosures, and even that some things not be made available to the non-licensed public.
Free Morningstar Reports Robinhood Gold Only
You can get free Morningstar with Robinhood, but you have to upgrade to the Robinhood Gold tier to get it. Of course, the $5 per month fee for Robinhood Gold is way less than the $30 per month that you end up paying directly for a Morningstar subscription.
See how Robinhood compares to Stash versus Public versus Wealthfront and others.
How To Get Free Morningstar From a Different Library
Depending upon where you live, you may not be able to get Morningstar for free from your library. If so, be sure to check other libraries in your area.
If you are a college student, check with your school’s library to see if they offer access. If you live near another library system, many libraries these days will allow you to get a free library card even if you don’t live in the main area the library serves. Just find out what access requirements they have and what it takes to sign up.
This is especially true if you live in a metropolitan area with several cities as part of it. For example, the Denver metropolitan area is composed of several cities, counties and library districts, such as Broomfield, Thornton, Aurora, Englewood, Lakewood, Centennial, and their associated counties. Most will allow a membership regardless of whether you are an official resident of the library area.
Although educational libraries may be more strict in their membership, students in the Denver area have numerous college and university libraries to check with including the Auraria campus library.
Is Morningstar Worth It?
For some investors, full access to Morningstar is a necessity, but for many others the cost-benefit analysis is not so simple. By getting free access to Morningstar, you can eliminate the question about whether or not Morningstar is worth it, because Morningstar is worth it, if it’s free!
About the Author
Brian Nelson is a former Certified Financial Planner who loved using the investor professional version to build portfolios of stocks and mutual funds. He writes for the Finance Gourmet and other financial publications. The material provided on this website is for informational use only and is not intended for financial or investment advice. At the time of publication, Mr. Nelson did not own any securities mentioned above, however, that may change at any time without notice. ArcticLlama, LLC, FinanceGourmet.com, and Brian Nelson, assume no liability for any loss or damage resulting from one’s reliance on the material provided. Please also note that such material is not updated regularly and that some of the information may not therefore be current. Consult with your own financial professional when making decisions regarding your financial or investment options.