The managed portfolio service is a discretionary funds management offering designed to meet a targeted range of investment objectives.
Both Morningstar and Transact are corporate members of the Institute of Financial Planning.
The service offers financial advisers a holistic approach to client portfolio management by incorporating risk tolerance profiling, portfolio construction, asset allocation and fund selection in one package.
Portfolios are available in five profiles: cautious, moderately cautious, moderate, moderately adventurous and adventurous.
The addition follows the launch of the service on the Skandia platform earlier this year.
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Daniel Needham, global chief investment officer for Morningstar, said: "Discretionary services provide advisers with a straightforward way to manage a proportion of their clients' assets.
"In addition to providing clients with portfolio appropriate for their risk appetite, advisers using the Morningstar OBSR managed portfolio service know that each stage of the offering is provided and managed by us. We believe this consistent, fully integrated solution will benefit advisers and in turn the end investor."
Glen Sweet, head of sales at Transact, said: "The managed portfolio service for the UK market is a natural extension of Morningstar's expertise. This development allows our two companies to enhance each other's capabilities to offer cost-effective investment solutions, to an ever wider range of investors."

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