Ohanessian backers win Praemium control
Ousted Praemium chief executive, Michael Ohanessian appears to have succeeded in regaining control of the publicly listed financial planning technology company.
Praemium has confirmed to the Australian Securities Exchange (ASX) today that a team supporting Ohanessian had been successful at a general meeting in replacing the incumbent board.
The company said Barry Lewin, Stuart Robertson, and Daniel Lipshut had been elected to the board with immediate effect with Lewin appointed as chairman.
It said the Greg Camm had been removed as a director of Praemium and chairman of the board along with Andre Carstens and Robert Edgely.
The ASX announcement quoted Camm as saying “the shareholders have spoken and a new board is appointed”.
“Praemium is a good business with very good people and the outgoing board give Mr Lewin and his colleagues our best wishes in governing the company,” he said.
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
