Morningstar to Acquire Fintech Software Provider PlanPlus Global

Morningstar (NASDAQ:MORN) announced it has reached an agreement to acquire PlanPlus Global, a Canadian financial-planning and risk-profiling software firm.

As quoted in the press release:

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.

“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.”

Click here to read the full press release.