Ian McKenna, founder of AdviserSoftware.com and the Financial Technology Research Centre, comments on Praemium’s announcement to divest their international businesses: “The announcement overnight in Australia that Praemium are to divest their international businesses should attract significant attention from potential UK purchases, especially in the platform and asset management space."

“Advice tech businesses are already very much in vogue with private equity firms and over the last decade most of the independent practice management systems have been acquired by platforms or asset managers. This includes Abrdn’s purchase of Focus Solutions in 2010, Invesco‘s purchase of Intelliflo, Schroder acquiring Enable via the purchase of Benchmark Capital, and Transact parents Integrafin buying Time4Advice at the start of this year."

“The Plum system has recently had a major overhaul to upgrade to technology to use Microsoft Dynamics in a very similar way to Time4Advice."

“It is rare for an independent practice management system to become available, especially one that has recently had a major technology upgrade. There are many reasons why this could be a very attractive purchase for several organisations."