The deal is expected to close by the end of November, subject to customary closing conditions.
Terms were not disclosed.
AdviserLogic’s cloud-based, financial planning software serves independent financial advisers in Australia. The open architecture software platform delivers an end-to-end planning solution that encompasses best in class training and support.
The firm’s 80+ employees across Australia and India will join Morningstar upon closing, including AdviserLogic CEO Daniel Gara, who will lead the product development and go-to-market efforts for AdviserLogic. Gundeep Sidhu, who co-founded the business with Gara in 2006 and led the business for a number of years, will pursue outside interests.
AdviserLogic will complement Morningstar’s existing suite of adviser software solutions in Australia:
– Adviser Research Centre, a web-based platform delivering investment research, data and tools; and
– Morningstar Direct, designed to support APL monitoring and portfolio construction—from manager selection to asset allocation, portfolio optimisation and personalised reporting.
Morningstar Australasia offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the private capital markets. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the private capital markets.
FinSMEs
04/11/2019