Morningstar plans to acquire Financial Computer Support Inc., a provider of practice management software for investment advisors.
Financial details of the acquisition were not disclosed. FCSI's main product, dbCAMS+, is a portfolio management system that allows advisors to track and produce client reports, and manage client contact information and billing.
Morningstar intends to rebrand dbCAMS+ and incorporate the software into its Principia investment-planning product line.
FCSI was founded in Oakland, Md., in 1981. The company currently has about 35 employees and more than 8,000 licensed users of its software.
Morningstar plans to retain as many of the employees as possible, according to a spokesperson. The company also plans to sign a four-year renewal lease on the office in Oakland.
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