Praemium launches desktop equity data application
Arthur Naoumidis
Portfolio administration service provider Praemium has launched the desktop component of its V-Wrap application, which features the ability to access live share market data for portfolio management.
Praemium managing director Arthur Naoumidis said p-Desktop has been released to help brokers, accountants, and financial planners strengthen their relationships with their clients and build their businesses.
“What we’ve done is enabled them to provide their end client with a high valued added service that differentiates them from their competitors with regard to access to market data at a lower cost than what they would otherwise have to pay,” he explained.
The new online desktop application will be automatically available to Praemium’s existing V-Wrap and Separately Managed Account clients, with a choice between a live streaming version, one that produces up-to-date static data on demand, and a version that updates the data via a 20-minute delay process.
In addition to being able to access live ASX share pricing, certain users of p-Desktop can also conduct up to the minute reviews of model portfolios for re-balancing purposes.
“The purpose of the Portfolio Planner function is to allow a licensed stockbroker to perform short form Statement of Advice reviews in under two minutes,” Naoumidis said.
However, the feature he believes to be unique is the ability to report live equity returns after taking into account any associated capital gains tax (CGT) events.
“As far as we are aware, we will be the only real-time CGT performance system anywhere,” Naoumidis said.
Once the stockbroker, accountant or financial planner has agreed to use the system, he or she can then distribute it for use by their clients under their own brand name and livery. Charges as to the distribution of the service will depend upon the type of data access provided to the client, with the 20-minute delay service requiring no extra charge.
“The end investor will have several benefits. To get something like this, they would normally have to pay quite a deal of money, and here they’re going to get it either free or close to it because they deal with that accountant, financial planner, or stockbroker,” Naoumidis said.
“It will give them access to better information and more market data, and if they’re V-Wrap clients, it will give them better knowledge about their own portfolio, their own performance and the tax implications of what they’re doing. Better information will hopefully allow them to make better decisions,” he concluded.
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