Morningstar will acquire the full PlanPlus Global range of products including FinaMetrica Profiler, a risk-profiling tool, the Financial Planning solution ProPlanner (formerly Planit) and ProTracker, a portfolio monitoring tool.
In 2018 PlanPlus Global and FinaMetrica joined forces to develop new products. FinaMetrica founder Paul Resnik has been a well known speaker in the UK for many years.
PlanPlus Global CEO Shawn Brayman says his company has enjoyed a “long-standing relationship” with Morningstar and discussions about closer collaboration have taken place over an extended period.
He said: “Over time, it became apparent to both firms that, together on a global scale, we could offer risk profiling, Financial Planning and 'suitability' software unlike any other available.
“Our combined solutions will help advisers better manage their day-to-day workflow, enhance client engagement, meet compliance obligations and produce digital advice underpinned by Morningstar’s institutional-grade data, information and research.”
PlanPlus Global says the additional resources of Morningstar will help provide an expanded product suite, an enhanced level of training and updated tools.