Morningstar makes further advice software buy

Fresh off the back of its recent acquisition of a leading Australian adviser software company, Morningstar has picked up another financial planning software group with an Australian risk profiling platform as its subsidiary.

In a statement released this week, the research company said it had acquired PlanPlus, a Canadian-based adviser software group which had itself acquired Australian risk profiling software FinaMetrica in 2017.

The news comes following the group’s acquisition of financial planning software firm AdviserLogic in December last year.

“On the heels of Morningstar’s acquisition of AdviserLogic in Australia late last year, this is another step to expand Morningstar’s financial planning capabilities for advisers around the world, adding a leading risk-profiling solution and a Canadian-focused financial planning software,” a spokesperson for Morningstar said.


The group’s Canadian chief executive, Scott Mackenzie, said the acquisition would put the company in a strong position as the advice industry moved increasingly towards a goals-based approach.

“With a 30-year track record, PlanPlus Global's streng­ths in risk profiling and financial planning have been proven to stand the test of time,” Mr Mackenzie said. 

“These capabilities will only become more important as planning grows more central to the value advisers deliver to clients and as the industry puts more focus on ensuring investment plans are best suited for each client's unique goals and circumstances.”

The company said following the two acquisitions, AdviserLogic would be Morningstar’s main advice software offering in Australia with PlanPlus added to its offering in Canada.

Morningstar makes further advice software buy
Morningstar makes further advice software buy
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