Praemium signs with CARM to use GPS
Australian portfolio administration provider Praemium has entered into an agreement with client engagement specialist CARM to use its Guided Planning System (GPS).
Under the agreement, CARM will build a link to enable GPS users to integrate with Praemium’s separately managed account (SMA) technologies, effectively providing a new tool for planners to keep track of SMA client investments.
The link will allow GPS users to seamlessly open a SMA account and provide for an exchange of data that will allow planners to use GPS as a tool for monitoring a client’s SMA account.
Praemium managing director Arthur Naoumidis said that while the initial development would be implemented and tested on Praemium’s SMA technology in Australia, it is expected to eventually become part of Praemium’s core service in the United Kingdom.
Naoumidis said that in terms of the agreement, Praemium’s SMA technology would be the “only one of its kind to be linked to GPS, offering great potential benefits for our Australian business”.
Naoumidis said these would flow from CARM having “recently attracted several significant clients, particularly in industry superannuation, that are well positioned to take advantage of a combined GPS /SMA offering”.
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