Melbourne planning firm opts for new platform
Financial services software platform provider Praemium has claimed a share of kudos for the decision by Melbourne-based financial planning firm Lateral Thinking to hand a mandate to Powerwrap for the provision of portfolio administration platform services.
The Powerwrap offering utilises Praemium’s V-Wrap and separately-managed account technologies.
Powerwrap has announced that it was selected by Lateral Thinking as the preferred platform for its $1.4 billion in funds under advice.
Powerwrap said it believed its selection by Lateral Thinking was significant for the wrap and master trust industry because it had received the mandate in competition with the major providers using legacy technologies.
Commenting on the appointment of Powerwrap, Lateral Thinking managing director Paul Huggins said one of the key factors had been the ability of the platform to support client demands for more sophisticated investment outcomes, which increasingly required a greater focus on direct assets and the ability to report and manage tax outcomes at the consolidated portfolio level.
AUTHOR
Mike Taylor
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