Morningstar Inc. has completed a previously announced acquisition of Advanced Sales and Marketing Corp.
Morningstar, Chicago (Nasdaq:MORN), a provider of investment data and asset allocation advice services, says it is paying about $14 million for Advanced Sales, Oakbrook Terrace, Ill.
Advanced Sales publishes the Annuity Intelligence Report and manages a database of about 1,000 variable annuities.
The annuity information business serves 170 firms, and about 150,000 financial advisors, Morningstar says.
- Allison Bell