Chris Douglas is leaving the firm after 12 years.
He said his position required a lot of international travel and, with a young family, it was becoming "too taxing".
He will join investment consultancy firm MyFiduciary from the beginning of September.
The position, as principal, would be broad-based, he said, with an initial focus on financial advisers and helping them to develop investment solutions for thier clients.
It would be more of a New Zealand-focused role than he had with Morningstar, Douglas said.
"It's an exciting business with a strong local team and a great growth opportunity."
Morningstar is recruiting for a replacement.
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