Morningstar to Acquire Praemium's UK and International Business

The leading independent investment research provider Morningstar Inc. (Morningstar) yesterday announced that it has reached an agreement with Praemium, a global provider of technology platforms for managed accounts, investment administration and financial planning, to acquire Praemium's operations in the United Kingdom, Jersey, Hong Kong, and Dubai.

According to the press release, the transaction is expected to complete during Q2 or Q3 2022, subject to regulatory approval from the Financial Conduct Authority (FCA) in the United Kingdom and the Jersey Financial Services Commission (JFSC) in Jersey.

Through the acquisition, Praemium’s end-to-end solution will add to Morningstar's existing data, fund profiles, portfolio analytics, and investment management capabilities available to advisers, creating a complete experience designed to empower investor success at scale.

"Praemium has a fast-growing U.K. and international business and a talented team we look forward to welcoming to Morningstar,"said Daniel Needham, president of wealth management solutions for Morningstar.”Praemium's digital-first capabilities will allow us to reduce friction, lower costs, provide more choice, and improve efficiency for advisers.”

“We are delighted Morningstar, a global firm of outstanding stature has chosen to acquire our international business. Morningstar will bring its global footprint and investment scale to better serve the interests of international clients and better advance the career opportunities of our international employees,”Praemium CEO Anthony Wamsteker said.

Praemium previously announced its plans to focus its financial and leadership resources on its domestic growth trajectory in the Australian platform market and to sell its international business to a growth buyer. The transaction unlocks capital and is a strong endorsement of the quality of Praemium's platform and technology.