Praemium sees $1bn inflows to HNW Spectrum offering
Praemium’s solution for high-net-worth (HNW) clients Spectrum has passed $1 billion in organic inflows, some 10 months since inception.
Launched in October 2024, Spectrum was set up following adviser demand and helps financial advisers meet the needs of their HNW clients. This combines its wrap and separately managed account (SMA) offering with its non-custodial portfolio services.
Spectrum’s offering includes comprehensive investment access, advanced execution services, consolidated reporting across custody and non-custody assets, and digital-first onboarding, services and compliance.
Total funds under administration on the offering now stand at $3.2 billion, helped by the transition of assets from the OneVue acquisition from Iress, which brought over $1.5 billion onto Spectrum. This FUA is up from $2.4 billion at the end of the 2024/25 financial year.
Overall, Praemium said Spectrum has benefited from HNW investors who are seeking investments in the alternatives space to offer them diversification, inflation protection and returns which are less correlated with public markets.
Anthony Wamsteker, chief executive of Praemium, said the firm had set a target to achieve $1 billion inflows within 12 months and said this had been surpassed by reaching the goal in 10 months.
“We’re incredibly proud of our teams who have helped to make Spectrum such a success.
“The demand we’re seeing reflects the strength of our offering and the opportunity to strengthen our market share in the HNW segment. We’re encouraged by our strong pipeline and the interest and momentum behind this product.
“With strong adviser engagement, increasing flows into sophisticated investment solutions, and a robust pipeline of opportunities, Praemium is well-positioned to lead the next phase of innovation and growth in the HNW advice segment.”
Looking towards future growth, a deal with Western Australia wealth manager and broker Euroz Hartleys will see the firm onboard over 1,000 portfolios to Praemium’s non-custody solution Scope, and transition approximately $2 billion in funds under administration across Praemium’s private wealth solutions, including Spectrum.
Andrew McKenzie, Euroz Hartleys’ executive chairman, said: “This strategic decision aligns with our vision to continuously innovate and deliver a tailored solution to our clients leveraging Praemium’s consolidated reporting to offer a seamless adviser and client experience.”
In its full-year results, the firm said Praemium has made a concerted effort to target the platform towards the HNW and ultra-HNW market segment who are demanding sophisticated solutions, deeper integration and customisation.
AUTHOR
Laura Dew
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