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Shadforth Financial Group has moved further into the provision of direct equities for its clients with the appointment of an external administrator to provide consolidated reporting and portfolio administration services.
The adviser-owned dealer group has appointed listed company Praemium Limited to administer its clients’ direct equity portfolios.
Shadforth chief executive Nick Bedding said the group was responding to “client demands for more sophisticated investment outcomes, which increasingly require a greater focus on direct assets and the ability to report and manage tax outcomes at the consolidated portfolio level”.
Praemium Group chief executive Arthur Naoumidis said Praemium’s V-Wrap offers “investment administration and tax management functionality that’s not available from the traditional wrap account and master trust providers”.
Praemium is a provider of online portfolio administration and separately managed account technology.
