Deals & People August 11, 2008

Morningstar Principia Adds Practice Management Software

Morningstar entered into an agreement to acquire Financial Computer Support, Inc. (FCSI), the company said.
Reported by

FSCI, a provider of practice management software for independent advisers, produces a flagship prodcut called dbCAMS+, which will be incorporated into Morningstar’s Principia product line.

The practice management system allows advisers to track and produce client reports as well as manage client contact information and billing, according to a release.

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Morningstar said the addition is in response to strong demand for integrated portfolio management solutions within Principia, a CD/DVD software for financial advisers. Principia combines Morningstar proprietary research, data, and analysis capabilities with investment planning and communication tools. Morningstar expects to rebrand the product within the next year.

Founded in 1981 in Oakland, Maryland, FCSI has about 35 employees in Oakland, Maryland, and currently has more than 8,000 licensed users of dbCAMS+, according to the release.

“For more than two decades, Morningstar and FCSI have been advocates for the independent adviser, providing powerful technology and content to help independents stay competitive and serve clients better,’ said David “Dusty’ Huxford, Jr., president of FCSI, in the release. “This common goal made Morningstar a strategic choice for the acquisition of our company.’

Morningstar said the complete acquisition is scheduled for September 2008. More information is available at global.morningstar.com/FCSI.

Deals & People August 11, 2008

NRP Announces Two More Acquisitions

National Retirement Partners, Inc. (NRP), has expanded its scope yet again, marking a dozen acquisitions in the third quarter of this year.
Reported by

The company said firms entering into agreement are: Mike Winn and Scott Gingras of The Winn Gingras Financial Group in Nashua, New Hampshire; and Roger McDowell, Paul Hees, and Chris Krueger of The MHK Group in Madison, Wisconsin.

The acquisitions bring the grand NRP total to more than 120 advisory firm affiliations in 39 states. NRP has completed the acquisition of 12 firms and is scheduled to close additional firms in the third quarter of 2008, according to a press release. And, the company said in the release, the search for advisers continues.

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