Research house Morningstar has completed its acquisition of AdviserLogic one month after it announced it would buy the financial planning software platform.
As part of the acquisition, AdviserLogic’s 80+ employees across Australia and India have joined Morningstar. However, other terms of the transaction were not disclosed.
AdviserLogic chief executive Daniel Gara will lead the product development and go-to-market efforts for AdviserLogic within Morningstar.
“Morningstar believes in the value of financial advice, and we share a common mission with advisers to empower investor success,” said managing director of Morningstar Australasia, Jamie Wickham, following the announcement of the acquisition in early November.
“Financial planning software is at the heart of the advice process. Combined with Morningstar’s deep data, analytics and research, AdviserLogic’s focus on user experience and advice workflow will enable us to elevate and differentiate our technology solutions for advisers – to support them in running an efficient and compliant practice; and deliver improved outcomes for their clients.”
Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.
You can contact him on [email protected].
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