Praemium upgrades and rebrands platform
Praemium has announced a major technology upgrade and a new rebrand for its global investment platform.
In a statement, Praemium said the upgrade will expand its addressable market from the $62 billion managed accounts segment to the $860 billion overall platform market.
Praemium said it will deliver its Unified Managed Accounts (UMA) solution, through the combination of:
- its existing Separately Managed Accounts (SMA) solution;
- the expansion of its Individually Managed Account (IMA) solution across a wide range of investment assets; and
- its Virtual Managed Account (VMA) reporting solution for non-custodial holdings.
As a result, financial advisers will have an expanded investment universe of 1,300 domestic and international model portfolios and single investment assets.
Praemium chief executive Michael Ohanessian said the breakthrough is in having combined SMAs with bespoke investments in a singular experience.
“This compares dramatically to traditional wrap platforms that have tried to overlay SMAs into their technical and regulatory architecture,” Mr Ohanessian said.
“Our new Praemium branding underscores the unified nature of our integrated custodial and non-custodial solution across a broad investment universe.
Last month, Praemium announced funds under administration (FUA) of $8.4 billion at the end of 2018, a 14 per cent increase over the past 12 months.
It also announced combined quarterly gross inflows of $768 million, as well as annual gross inflows of $2.8 billion, up 10 per cent from the 2017 calendar year.
Advice community needs to challenge political thinking
Peter Johnston has told ifa that the advice community needed to stand up to its ...
Advisory backs removal of grandfathered commissions
A major financial advisory firm has backed the removal of grandfathered commissi...
XPLAN leads planning software rankings
XPLAN has taken the top spot in Australian planning software benchmark rankings ...