Praemium expands relationship with Morgan Stanley
Praemium has announced a major expansion of its relationship with Morgan Stanley Wealth Management Australia.
Under the expansion agreement, the firm would provide portfolio administration and taxation reporting for portfolios with international investments.
From April, Morgan Stanley would also add a range of single investment assets to their menu which would enable them to construct individually managed account (IMA) portfolios that combine separately managed accounts (SMA) models with bespoke investments.
Currently, Praemium offers non-custodial reporting for 2,500 investor portfolios with domestic assets, through their virtual managed account (VMA) reporting solution.
“We are very pleased that Morgan Stanley will utilise our fully integrated managed accounts platform, which covers all custodial and non-custodial assets, both domestic and international, enabling their advisers to create a streamlined client portfolio experience irrespective of structure,” Praemium’s chief executive, Michael Ohanessian, said.
Recommended for you
A NSW adviser who advised over 120 clients after falsifying her financial advice exam results been permanently banned by ASIC.
ASIC has released the results from the latest financial adviser exam, the first to be run since changes to its structure earlier this year.
Sharing his reasoning in joining the FSC board, WT Financial managing director, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
