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...
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