Praemium confirms integration strategy
Specialist financial services provider Praemium has confirmed to the Australian Securities Exchange (ASX) today that it intends integrating its three key products to build a complete wealth management solution.
The company's ASX announcement said it intended integrating WealthCraft's financial planning tools, the company's Separately Managed Account (SMA) platform and its enhanced portfolio administration software, V-Wrap.
Praemium chief executive Michael Ohanessian said the move represented a key strategy for the company, which had reported positive cashflows for six of the last eight quarters.
"We now have the building blocks in place for growth and are continuing to expand our offering to deliver a truly scalable business," he said.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
