Financial services firm Hartleys, with approximately A$1.2 billion under management, has signed on with Australian wealth management firm Praemium to use its reporting and administration platform for client portfolio management.
The deal is expected to increase cost efficiencies in Hartleys’ administration process.
“This allows us, most importantly, to have a consolidated view of our clients’ overall portfolio, provide timely and accurate reports to our clients, and create significant time and cost efficiencies in our administration process,” Hartleys chief executive, Charlie Ransom, said in a statement.
“Praemium’s Investor Portal also allows us to provide our clients with a transparent and engaging digital experience that enhances our value proposition.”
Praemium head of distribution Martin Morris said the personalised reporting is made possible by its investor portal allowed adviser to meet investor expectations.
“We pride ourselves on providing marketing-leading reporting and performance analysis and are continually enhancing our offering to ensure that it meets with the demands of wealth management and advice firms,” Morris said.
Praemium also inked a deal to provide managed accounts services to Morgan Stanley Wealth Management Australia in June.
The solution goes live this July, and will see 115 financial advisers use Praemium’s separately managed accounts technology.