Praemium is to acquire an advanced technology firm, helping to boost its strategy to be a leader in AI-powered wealth management.
The platform is seeking to acquire Technotia Laboratories, a specialist in advanced technology and computing machinery and intelligence (CM&I).
Established in 2019, the Melbourne-based firm has a track record of delivering scientifically-rigourous, practical solutions across multiple industries. Its website describes how the use of CM&I supports complex problem solving with precision and insight rather than relying on AI and that its work had been used in financial services, health and energy sectors.
The two firms have already collaborated since late 2024 to enhance Praemium’s superannuation solution and Praemium has now identified the opportunity to leverage it across the entire platform.
This will enable Praemium to “accelerate innovation, enhance automation, and unlock data-driven insights that enable tailored strategies at scale”.
It said: “By integrating Technotia Laboratories’ proprietary technology and scientific expertise, Praemium will deliver a platform that sets a new benchmark for high-net-worth advisers. The combined capability will enable advisers to operate with greater precision, scale and speed, while deepening client engagement and driving superior outcomes.”
Under the terms of the agreement, the platform will acquire the tech firm for 9,047,045 ordinary shares at $0.829 per share, equivalent to $7.5 million. The deal is expected to complete in January 2026 and Praemium non-executive director, Daniel Lipshut, will move into an operational leadership role to become CEO of the tech firm.
Commenting on the move, Praemium chief executive Anthony Wamsteker said: “The rapid expansion of AI in financial services demands more than speed, it requires trust and proven capability.
“Through the acquisition of Technotia Laboratories, Praemium will embed specialist expertise directly into our platform, ensuring innovation is delivered with scientific rigour and reliability. This cements Praemium’s leadership in the high-net-worth advice segment, combining trusted wealth management experience with advanced AI technologies, to set the standard for smart efficient advice and exceptional client outcomes.”
In its quarterly results to 30 September, the platform reported quarterly net inflows of $667 million and total funds under administration rose 13 per cent to $67 billion. On its separately managed account (SMA) division, it saw net inflows of $237 million with FUA at $13.6 billion, while there had been a “stabilisation in adviser exits” on its Powerwrap offering, causing Powerwrap FUA to stand at $14 billion.
