Daniel Needham

Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, has completed its acquisition of Praemium’s operations in the United Kingdom, Jersey, Hong Kong, and Dubai from Praemium Limited (ASX: PPS) for £35 million, subject to completion adjustments.

Across its U.K and international business, Praemium offers proprietary, friction-free technology and services that enable advisers to outsource key elements of the advice workflow. Its platform–which Morningstar plans to rename as the Morningstar Wealth Platform – is used by nearly 500 independent financial advice firms to better serve their clients. Wealthcraft, a full-service, end-to-end adviser practice management support tool, which includes digital factoring, engagement, and risk profiling, is also part of Praemium’s international offerings.

“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, Wealth Management Solutions, Morningstar. “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.”

The end-to-end Morningstar Wealth Platform adds to the data, research, portfolio analytics, and investment management capabilities offered to advisers by Morningstar and its subsidiaries, creating a complete experience designed to help advisers empower investor success at scale.

“We are excited to have found a home with a long-term vision and commitment to our best-in-class platform experience,” said Mark Sanderson, Praemium U.K. and international managing director, who now reports to Needham. “Morningstar understands that our fast growth has come from a relentless focus on delivering for our customers, and as part of Morningstar, we will only accelerate our existing road map. We are dedicated to a disruption-free customer experience—with no plans to re-platform—and the work to separate our technology has already been completed without any impact to our clients, which is a testament to that commitment.”

The post Morningstar completes acquisition of wealth management platform provider Praemium’s UK and international business  appeared first on AdviserVoice.

Lill will be responsible for leading the investment management teams in the Asia-Pacific region. He will also contribute to Morningstar’s global investment management committees, policies, capabilities, and thought  leadership. Based in Sydney, he reports to Daniel Needham, Morningstar’s Global Chief Investment Officer.

“We’re pleased to have Andrew on board,” Needham said. “His extensive background in investment  management, consulting and advice, asset allocation, portfolio construction, and related fields will enable him  to make a major contribution to our goal of building a leading global investment management business.”

Lill has 20 years’ experience in advising and managing institutional funds and investment teams in Australia, Asia, and the United Kingdom. He worked most recently at AMP Capital Investors as Head of Investment Solutions in the Multi-Asset Group, and before that, Head of Investment Specialists, Listed Assets.

He previously spent seven years with Russell Investment Group, as Director of Consulting – Asia-Pacific and ultimately as Director of Investment Strategy. His experience in the United Kingdom included roles in manager research with investment consultant Lane Clark & Peacock and as an investment analyst with Watson Wyatt. He has bachelor’s and master’s degrees in economics from Cambridge University and is a Fellow of the UK Institute of Actuaries.

“I look forward to contributing to Ibbotson and Morningstar Investment Management’s goal of creating better pre- and post-retirement investment outcomes for institutions, advice groups, and their clients in Australia and the Asia-Pacific region,” Lill said.

The post Ibbotson Associates Australia Appoints Andrew Lill Chief Investment Officer, Asia-Pacific appeared first on AdviserVoice.