Morningstar acquires ByAllAccounts

|By:, SA News Editor

ByAllAccounts uses a knowledge-based process to collect, consolidate, and enrich financial account data and deliver it to virtually any platform. The company has a network of over 2.1K clients, 4.3K custodians, and 40 platform and service providers. About $730B in assets move daily through the ByAllAccounts aggregation engine.

Morningstar (MORN) CEO Joe Mansueto: "The ability to efficiently provide a holistic view of an investor's total financial portfolio is now a requirement for wealth managers, not a 'nice to have' capability."

The purchase price was $28M.