Praemium picked up in UK
Praemium’s V-Wrap platform has become the first portfolio administration platform to be accredited by the Institute of Chartered Accountants in England and Wales (ICAEW), the company has announced.
Having been tested and approved, the ICAEW accreditation will help Praemium promote the V-Wrap platform to ICAEW members.
In Australia, Praemium’s V-Wrap is used to administer more than 42,000 client accounts worth more than $38 billion. Accountants currently represent about 40% of users and use the capital gains tax reporting to better manage the client’s tax position.
“A portfolio administration software solution should provide an efficient and effective means of managing an investor’s assets, providing the ability to manage the wide range of assets available to an investor,” said ICAEW head of accreditation Craig McLellan.
“V-Wrap is the first portfolio administration platform we have accredited for promotion to our members,” he added.
“The accreditation by the ICAEW follows Praemium’s approval from the Financial Services Authority in the United Kingdom to run authorised unit trusts via its platform,” said Praemium Group managing director, Arthur Naoumidis.
“Praemium UK are also providing their unit trust solution to adviser groups using market-leading fund managers as investment advisers. It has also reached agreements with prominent discretionary managers to run their models on the platform,” he said.
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