Morningstar Inc. announced August 11 that it will acquire Oakland, Maryland-based Financial Computer Support Inc. (FCSI), the maker of the dbCAMS+ portfolio management software. After the acquisition is complete, Morningstar plans to incorporate dbCAMS, which provides portfolio management, CRM, and customer billing, into its Principia product line. Chris Boruff, president of Morningstar's advisor business, said in a statement that "by bringing these two popular software applications together in a single product suite, advisors will have powerful options for integrating investment data and analytics with client performance reports."
Founded by the late David "Dusty" Huxford in 1981, when the first version of dbCAMS was released, FCSI has long been an advocate for the open exchange of data between applications. Dusty Huxford's son, David Huxford Jr., referenced that history in his statement about the deal, saying "Morningstar and FCSI have been advocates for the independent advisor...This common goal made Morningstar a strategic choice for the acquisition of our company. Given Morningstar's reputation and history in serving advisors, we believe our customers will continue to receive quality service and innovative solutions under the Morningstar brand."