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Morningstar Closes Acquisition of tRx Investment Portfolio Rebalancing Platform.


5 November 2015 - US-based investment research firm Morningstar, Inc. (NASDAQ: MORN) has closed its acquisition of Total Rebalance Expert, an automated, tax-efficient investment portfolio rebalancing platform for financial advisors, from FNA, LLC, the firm said.

Morningstar expects to complete the transaction in November 2015. Terms were not disclosed.

Sheryl Rowling, CEO of FNA and principal of independent advisory firm Rowling and Associates, created tRx in 2008 when she couldn't find an affordable, tax-efficient, easy-to-use rebalancing system for her own practice.

Currently, more than 500 financial advisors from 175 firms rely on tRx to rebalance more than USD 20bn in client assets.

TRx streamlines the rebalancing process for advisors and automates the complexities involved in rebalancing and managing portfolios.

Advisors can use the software to more minimise taxes, harvest losses, and rebalance at the account or household level. They can also use the tool to show clients, in dollars and cents, how much they saved them in taxes.

In June 2015, Morningstar announced it was integrating the tRx rebalancing capabilities into Morningstar Office, the company's practice and portfolio management system used by more than 4,000 independent financial advisors.

Rowling will continue to run her advisor practice and work for Morningstar on a part-time basis. Morningstar plans to incorporate the tRx capability into its advisor offerings and will also continue to offer it as a standalone platform.

In 2014, Morningstar acquired ByAllAccounts, an account aggregation provider that helps advisors deliver more complete advice to their clients.

Morningstar also offers outsourced investment management services through Morningstar Investment Services, Inc.

Country: USA

Sector: Banking/Financial Services

Target: Total Rebalance Expert

Buyer: Morningstar, Inc

Vendor: FNA, LLC

Deal size in USD:

Type: Corporate Acquisition


Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Date:Nov 5, 2015
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