From Total Rebalance Expert’s CEO: Why Morningstar, why now

Sheryl Rowling says that after a few months working together, the two companies realized a closer relationship made sense.

It’s not often that I get to use this column to write about Total Rebalance Expert. But when Morningstar Inc. announced its agreement to acquire tRx, that gave me permission!
Here are the most common questions I’ve heard since the news came out, straight from the proverbial horse’s mouth.
Why did this deal happen? Morningstar and tRx began working more closely together in June. The more we worked together, the more we saw opportunities for synergies. TRx would have access to Morningstar’s resources and we could work together to add great new functionalities to our offerings.
Why Morningstar and why now? In today’s fast-paced world of technology, it is imperative to have resources to timely implement enhancements. Morningstar’s emphasis on open architecture, unbiased research and tax focus makes for a perfect match.
(More from Sheryl: Is there anything left to automate?)
What will this mean to tRx users? It means that tRx will be able to offer more frequent and impactful enhancements to its users.
How will this impact advisers who do not use Morningstar Office? I have always supported open architecture and Morningstar shares my commitment. Although Morningstar Office users will benefit from integrations with other proprietary Morningstar tools, all general enhancements will be released to all tRx users. Current and future integrations will be supported and sought after.
Will there be any continuity with current tRx employees? Yes. The majority of current employees, including me, will stay on with Morningstar.
How will this impact users of tPx? We feel strongly that tPx users should be able to continue to rely on their portfolio accounting software. Thus, I am retaining tPx along with its associated employees. TPx will continue to be integrated with tRx and it will be business as usual.
The deal is scheduled to close next month. I’m excited!
Sheryl Rowling is the chief executive of Total Rebalance Expert and principal at Rowling & Associates. She considers herself a non-techie user of technology.