Morningstar buys Praemium UK and International business for £35m

UK and Jersey businesses

Tom Ellis
clock • 2 min read

Morningstar has bought UK and international platform Praemium for £35m, subject to regulatory approval.

The platform is used by less than 500 financial advisers, which Praemium said receive "proprietary, friction-free" technology and services that helps fee-based to "outsource key elements" of their workflow.  The firms said they would work together to ensure "a smooth transition for customers and employees". The firms said they expected the deal to complete in Q2 or Q3 of 2022 once it receives approval from UK and Jersey regulators. Daniel Needham, president of wealth management solutions for Morningstar, said: "Technology is playing a larger role in everyone's lives and expectations f...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Technology

AI 'trust gap' causing uptake of robo-advisers to remain limited

AI 'trust gap' causing uptake of robo-advisers to remain limited

Clients still lack trust in the technology, Avaloq finds

Isabel Baxter
clock 20 November 2024 • 2 min read
Advice firms only spending 35% of time on client meetings

Advice firms only spending 35% of time on client meetings

Spending more time on business, compliance and staff development

Isabel Baxter
clock 18 November 2024 • 2 min read
PFS Conference 2024: AI should augment not replace human element in advice

PFS Conference 2024: AI should augment not replace human element in advice

Firms that adopt technology to save time will improve client experience

Jenna Brown
clock 14 November 2024 • 2 min read