Praemium announces three-year partnership with CoreData

15 November 2023
| By Laura Dew |
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ASX-listed technology platform Praemium has announced a three-year partnership with research consultancy CoreData.

The partnership will provide Praemium the research capabilities of CoreData to enhance its existing solution, offering to deliver solutions that are tailored to the specific needs of its clients. 

The two firms will also collaborate on the creation of education resources, webinars and workshops on industry trends and insights designed to empower clients.

They will also aim to drive discussions via research, white papers and industry events to shape the future of the advice industry. 

Denis Orrock, chief strategy officer at Praemium, said: “We are excited to join forces with CoreData, a recognised research and consultancy leader in financial services. This strategic partnership is a testament to our commitment to support the advice industry. By combining our strengths, we are confident that we will deliver unparalleled value to our clients and the broader industry.”

Andrew Inwood, CEO of CoreData, added: “Collaborating with Praemium presents a tremendous opportunity to apply our research insights directly to real-world industry solutions. We are eager to work together to drive meaningful change and help our industry thrive.”

Praemium provides technology platform solutions for private wealth, managed accounts, investment administration and financial planning, servicing over 300,000 investor accounts covering over $230 billion in funds globally for more than 1,000 financial institutions and intermediaries.

This is the second partnership in a week as it was previously announced on 10 November that it will partner with capital markets platform Complii Fintech Solutions. 

The strategic partnership will provide an expanded suite of services, enabling the two platforms to collaborate on cross-selling between their respective client bases and strengthen their marketplace positioning.

Moreover, it will allow for greater technology cohesion, product integration and seamless client interaction.

In the firm’s FY23 results, it announced strong revenue growth of 17 per cent to $74.3 million, underpinned by strong net inflows, positive equity market valuations and improved cash administration fee contribution.

Net profit after tax stood at $15.2 million and some $37.3 million was returned to shareholders from the sale of its international business to Morningstar in 2022. 

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