In a new development that could make big waves in the Australian finance industry, Morningstar, Inc has announced that it has agreed to acquire adviser software company AdviserLogic. The acquisition is being made through Morningstar Australasia Pty Limited, subsidiary of Morningstar, Inc. According to reports, the deal is expected to be tied up by the end of this month. However, the terms of the deal have not been revealed by either party. AdviserLogic has created its owned financial planning software that is generally used by financial advisers in the country, and it is quite clear why Morningstar is acquiring it.\r\n\r\nMorningstar Australasia\u2019s Managing Director Jamie Wickham spoke about How the acquisition is going to create value. He said,\r\nCombined with Morningstar's deep data, analytics and research, AdviserLogic's focus on user experience and advice workflow will enable us to elevate and differentiate our technology solutions for advisers\u2014to support them in running an efficient and compliant practice; and deliver improved outcomes for their clients.\r\nConsidering the fact the AdviserLogic is a cloud-based platform as well, it is quite clear that the technology it provides is modern, and that must have appealed to Morningstar as well.\r\n\r\nFor an investment research firm, Morningstar must get any edge it can to get ahead of the competition, and hence, the acquisition of AdviserLogic is perfectly understandable. CEO of AdvisorLogic, Daniel Gara, spoke about the merits of the deal as well. He said,\r\nJoining forces with Morningstar will accelerate the development of our financial planning solution, As part of Morningstar, AdviserLogic clients will benefit from additional investment and the depth and breadth of Morningstar's capabilities.