Morningstar completes AdviserLogic acquisition
Research house Morningstar Australasia has completed its previously announced acquisition of AdviserLogic, a cloud-based software platform for financial advisers in Australia.
AdviserLogic’s 80-plus employees across Australia and India have joined Morningstar, including chief executive Daniel Gara.
AdviserLogic had built a client base of 1,500 independent financial advisers across approximately 550 practices.
It had three core applications: AdviserLogic, its core financial planning software; PayLogic, its revenue management software; and DataLogic, its client data aggregation engine that collected data from platforms.
Terms of the acquisition were not disclosed.
AUTHOR
Chris Dastoor
Recommended for you
Following an extraordinary general meeting today, Dixon Advisory parent company E&P Financial Group’s shareholders have voted on its proposed delisting from the ASX.
While overall financial adviser numbers have dipped below 15,500 this week, Rhombus Advisory is experiencing growth and approaching 500 advisers in its ranks.
Iress’ Xplan continues to dominate the financial planning software market with a multitude of uses, according to Netwealth research, despite newer players battling for a piece of the pie.
ASIC has shared the percentage of breach reports related to financial advice in FY24, noting increased reporting by smaller AFSLs.
