The conclusion of the deal marks the start of our new brand, Morningstar Wealth Platform; Wealthcraft is now Wealthcraft, a Morningstar company and Smart IM becomes Smart IM, a Morningstar company.
These changes are initially to the brands only. Formal legal names will follow and you may continue to see the Praemium name over the next few months.
Several themes have run all the way through our discussions and will continue to play a key role as we settle into Morningstar. Moving forward you can expect:
Continuity of experience – we’ve been asked by various clients when we’ll make the necessary tech changes to join Morningstar. We like that question because we’ve already made them. There’s no replatforming, no migration and no disruption. The focus on service and relationships we’re proud to be known for won’t change.
End customer focus – one thing we really connected with Morningstar on is our customer obsession. We’re looking forward to seeing how we can work together to build on that.
Choice and growth – we’re setting out on a long-term path of investment, development and enthusiasm. The future is about growth, not rationalisation. You’ll still have the same broad choice of investment and third-party options, with scope for further development.
Daniel Needham, president, Wealth Management Solutions group, shares this view, “The combination of Praemium and Morningstar’s capabilities present a unique opportunity to serve more advisors and deliver increased value to our clients. It’s fair to say we couldn’t be happier for this collaboration with Praemium and the strategic opportunities to enhance the digital and technology services we provide to empower your success.”
I’d like to thank you for your support over the last year. It means everything to us and we look forward to strengthening those relationships even further in the coming months and years.
We’ll share further updates on our plans soon.
International Managing Director