Int’l platform group in deal to help Europe-based IFAs
The UK-based international arm of Australian platform company Praemium has agreed a deal to work with the Federation of European Independent Financial Advisers (FEIFA) and its members to help them to boost their use of technology in their businesses.
According to Barry Honeyman, who is to oversee Praemium’s interaction with FEIFA’s advisory members, the Australian platform company’s “integrated CRM and financial planning suite” helps to support advisers from the earliest stages of client interaction and information-gathering “to risk profiling, financial plan creation through to ongoing client management and reporting”.
“Our next-generation platform technology allows adviser firms and investment managers to efficiently manage investment portfolios of any size for their clients and, through our investment management company, Smartim, we offer a wide range of actively-managed, risk-graded model portfolios, [as well as] a range of multi-asset funds, including the ‘Smartfund 80% protected,” he added.
Praemium (UK) Ltd is the London-based arm of Melbourne-based, Australia Stock Exchange-listed platform services provider Praemium Ltd, which was founded in Australia in 2001. In the six months to the end of December, it posted earnings of A$1.85m (US$1.4m), a 93% gain on the same period a year earlier, on sales and other income of A$14.7m (US$11.1m), a gain of 35%.
According to a FEIFA statement announcing the deal, Praemium globally supports more than 700 corporate firms, through which it manages and administers more than 300,000 investor accounts and £40bn in assets.
In addition to Australia and the UK, Praemium has offices in Jersey and Hong Kong, and is in the process of setting up a new sales office in Dubai.
FEIFA was founded in August 2009 as a non-profit trade body for English-speaking IFAs based in Europe or operating there. It currently says its members are active in more than 25 countries, and oversee cumulative assets in excess of €4bn. In addition to Praemium, it has partnerships with a wide range of companies, including the major international life companies and key asset managers.
Last month, as reported, Praemium announced that it was adding clean share classes to its Smartfund 80% Protected range.