Morningstar announces PlanPlus acquisition

Global investment research firm takes additional step to expand financial-planning software capabilities for advisors

Morningstar announces PlanPlus acquisition

Global independent investment research firm Morningstar has agreed to acquire PlanPlus Global, a Canada-based financial-planning and risk-profiling software firm.

“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,” said Morningstar Canada President and CEO Scott Mackenzie.

“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,” Mackenzie added.

Following Morningstar’s acquisition of AdviserLogic last year, the newly announced deal is anticipated to increase the research firm’s financial-planning capabilities for advisors worldwide.

It plans to retain PlanPlus Global’s FinaMetrica Profiler — described as “built on the world's most academically validated psychometric risk tolerance assessment” — as a stand-alone risk-profiling tool in the global markets it’s offered in today. The firm also sees an opportunity to integrate the tool into its existing solutions, including the Morningstar Advisor Workstation offered in Canada.

Morningstar also announced plans to add ProPlanner, PlanPlus Global’s financial-planning solution, to its shelf of products in Canada. Formerly called Planit, ProPlanner helps advisors offer comprehensive advice that’s aligned with clients’ personal circumstances and objectives as well as prevailing realities in financial markets today.

“[W]e've seen firsthand how Morningstar's mission to empower investor success aligns with our commitment to put clients' interests first, and we share a belief in evidence- and research-based solutions,” said PlanPlus Global Founder and CEO Shawn Brayman. “Morningstar has shown a vision and commitment to enable basic goal planning all the way through to advanced planning for high-net-worth-focused advisors.”

Brayman, PlanPlus Global’s leadership team, and the company’s more than 40 employees are expected to join Morningstar. The transaction is expected to close in the second quarter; no financial terms were disclosed.


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