December 1, 2019

Morningstar Completes Acquisition of Financial Planning Software Provider AdviserLogic

SYDNEY, Dec. 2, 2019 -- Morningstar Australasia Pty Limited, an Australian subsidiary of Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, has completed its previously announced acquisition of AdviserLogic, a cloud-based, financial planning software platform for financial advisers in Australia. Terms were not disclosed.

As part of the acquisition, AdviserLogic’s 80+ employees across Australia and India have joined Morningstar, including AdviserLogic CEO Daniel Gara, who will lead the product development and go-to-market efforts for AdviserLogic within Morningstar.

Over the past decade, AdviserLogic has built a loyal client base of nearly 1,500 independent financial advisers across approximately 550 practices. Built by advisers for advisers, AdviserLogic’s software has some of the highest market-leading satisfaction scores driven by a focus on the advice workflow and user experience.

About Morningstar Australasia Pty Limited

Morningstar Australasia is a subsidiary of Morningstar, Inc., a leading provider of independent investment research in North America, Europe, Australia, and Asia. Morningstar offers globally 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. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with about $217 billion in assets under advisement and management as of Sept. 30, 2019. The company has operations in 27 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on Twitter @MorningstarInc.

About AdviserLogic

Over the past 10 years, AdviserLogic has built a loyal client base in the independent financial adviser market, with some of the highest market-leading satisfaction scores from independent industry research provider Investment Trends. It serves advisers today through three core applications; AdviserLogic—its core financial planning software platform, PayLogic—its revenue management software, and DataLogic—its client data aggregation engine that collects, aggregates and normalises data from platforms, fund managers, brokers and other sources. AdviserLogic integrates with third-party providers such as Basiq for personal finance data (banking, loans, superannuation, etc.); Omnium for insurance data and comparisons; and collects data on superannuation and platform fees and features, to support advisers in meeting their Best Interest Duty. AdviserLogic recently announced the launch of its digital advice solution, reducing the time to produce advice, create statements of advice, and engage with clients to accelerate the fact find and advice sign-off process.

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