Morningstar, an investment research provider, has acquired Praemium‘s operations in the United Kingdom, Jersey, Hong Kong, and Dubai.
Praemium offers technology that enables advisers to outsource key elements of the advice workflow.
“We are excited to welcome more than 100 new colleagues to Morningstar and expand our ability to offer advisers technology-enabled flexibility and choice,” said Daniel Needham, president of Morningstar’s Wealth Management Solutions. “The Wealth Platform and Wealthcraft are powerful tools that reduce friction and save time so advisers can serve more investors – and in more extensive ways than they do today.”