Business
Morningstar to Acquire Software Provider PlanPlus Global
Acquisition will expand Morningstar's advanced financial-planning capabilities for advisors as well as risk-profiling capabilities around the world CHICAGO,
About this update from Morningstar, Inc.
[{"type":"text","content":"Acquisition will expand Morningstar's advanced financial-planning capabilities for advisors as well as risk-profiling capabilities around the world\n CHICAGO, March 3, 2020 /PRNewswire/ -- Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today announced it has reached an agreement to acquire PlanPlus Global, a financial-planning and risk-profiling software firm based in Canada. 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 advisors around the globe. Financial terms were not disclosed, and the transaction is expected to close in the second quarter.\n\"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. These capabilities will only become more important as planning grows more central to the value advisors 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,\" said Scott Mackenzie, president and CEO of Morningstar Canada. \"This is an investment for growth in the financial-planning arena, and we look forward to the rich expertise and long-standing relationships PlanPlus Global employees will bring to the Morningstar family.\"\nMorningstar plans to continue offering PlanPlus Global's FinaMetrica Profiler as a stand-alone, risk-profiling tool in global markets where it is offered today, and it also sees opportunity to integrate this capability into its existing solutions, such as Morningstar® Advisor WorkstationSM for advisors in Canada and the U.S. or through Morningstar® Enterprise Components connections to third-party planning tools. FinaMetrica Profiler is built on the world's most academically validated psychometric risk tolerance assessment to give advisors confidence in delivering defensible advice to clients. More than 1.5 million FinaMetrica risk tolerance tests have been completed for over 10,000 advisors in 35 countries since 1998.\nFurthermore, Morningstar intends to add PlanPlus Global's financial-planning solution, ProPlanner (formerly Planit), to its offerings in Canada alongside continued support for its users worldwide. ProPlanner equips advisors to offer comprehensive advi...