Adviser demand for transparency is behind the 70 per cent jump in funds on Praemium’s SMA platform in the past 12 months, according to the firm’s commercial director.
Speaking to ifa, Praemium commercial director Andrew Varlamos said the SMA’s client base of financial advisers and dealer groups have increased their use of the platform since Praemium acquired it from BlackRock 12 months ago.
One of the reasons for the impressive growth is the fact that the service is now operated and maintained by the same team of people, he said.
In addition, the platform is likely receiving more ‘love’ now that it is a key part of Praemium’s business, as opposed to a being “a relatively small part of a multinational”, Mr Varlamos said.
Praemium has announced a new retail public-offer superannuation product called Praemium SuperSMA.
The firm's decision to launch the new product has been driven by a demand for transparency by advisers, said Mr Varlamos.
“The key thing in superannuation investing is the increased desire by investors for more control and transparency. It’s really what’s driven the whole SMSF revolution over the last decade,” he said.
“What we’re doing is providing a really efficient low-cost and transparent means for investors to invest their superannuation money without them having to go into an SMSF,” said Mr Varlamos.
Praemium is currently finalising the documentation needed to launch Praemium SuperSMA ahead of the official launch in February, he said.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 19 Sep 2018Linchpin funded advice business in liquidationBy James Mitchell
- 19 Sep 2018McMaster: Where was ASIC on Beacon, CBA and AMP?By James Mitchell
- 18 Sep 2018Peter Kell resigns as deputy chair of ASICBy Eliot Hastie
- 18 Sep 2018Two former Macquarie advisers given 10-year banBy Adrian Flores
- 19 Sep 2018Raiz addresses Millennial advice gap with chatbotBy Reporter
- 18 Sep 2018FASEA a ‘disaster’ destroying the industry: AIOFPBy James Mitchell
- view all