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

What to expect from AI in financial advice in 2025

What to expect from AI in financial advice in 2025

AI has already taken root in many of our daily lives

Nick Eatock
clock 16 January 2025 • 4 min read
Majority of IFAs have no plans to use AI in their practices

Majority of IFAs have no plans to use AI in their practices

Advisers divided on the pros and cons of AI

Isabel Baxter
clock 14 January 2025 • 2 min read
Keeping pace with technology: What next for robo-advice?

Keeping pace with technology: What next for robo-advice?

'Robo-advice as a term probably won't survive'

Dilan Oylum
clock 07 January 2025 • 4 min read