Wealth manager JBWere has extended its agreement with Praemium to provide non-custodial portfolio administration and reporting software to its wealth management client portfolios for another two years.
The contract had a current annual value over $1 million.
Michael Ohanessian, Praemium chief executive, said the firm was pleased JBWere renewed the virtual managed accounts (VMA) contract.
“Our reporting is backed by the most comprehensive range of data feeds, with performance benchmarking supported by an unmatched range of market indices,” Ohanessian said.
“Furthermore, our reconstruction technology enables us to automatically handle post ex-date ATO [Australian Tax Office] tax rulings, delivering our clients accurate portfolio, performance and tax reporting under all scenarios.”