Morningstar Inc. is expanding its business as a technology provider not just to advisers in the U.S., but internationally as well.
On Tuesday, the investment research firm announced plans to acquire PlanPlus Global, a Canadian financial planning and risk profiling software. The acquisition comes just months after Morningstar said it would buy AdviserLogic, a financial planning software for advisers in Australia.
The company also has built its own financial planning technology, Goal Bridge, for U.S.-based advisers.
Morningstar plans to offer PlanPlus Global’s FinaMetric Profiler as a stand-alone risk profiling tool and sees an opportunity to integrate it with the Morningstar Advisor Workstation in both Canada and the U.S.
Morningstar will also add PlanPlus Global’s financial planning software, ProPlanner, into its platform for advisers in Canada, while still supporting AdviserLogic for advisers in Australia.
In a statement, Morningstar Canada president and CEO Scott Mackenzie said the acquisition is an investment toward growing Morningstar’s capabilities in financial planning, which he said is becoming more central to the value advisers deliver.
“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 in the statement. “We look forward to the rich expertise and long-standing relationships PlanPlus Global employees will bring to the Morningstar family."
Morningstar did not disclose financial details. It expects the deal to close in the second quarter. The company was unable to provide additional comment.
Driven by robust transaction activity amid market turbulence and increased focus on billion-dollar plus targets, Echelon Partners expects another all-time high in 2025.
The looming threat of federal funding cuts to state and local governments has lawmakers weighing a levy that was phased out in 1981.
The fintech firms' new tools and integrations address pain points in overseeing investment lineups, account monitoring, and more.
Canadian stocks are on a roll in 2025 as the country prepares to name a new Prime Minister.
Carson is expanding one of its relationships in Florida while Lido Advisors adds an $870 million practice in Silicon Valley.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
