Praemium, the Australian wealth management firm, has announced a major upgrade to its platform as part of a relaunch for its global investment technology division.
Praemium says it envisages the upgrade will expand its market from $62bn worth of managed accounts to $860bn worth of platform market.
The changes will enable financial advisers to have access to an expanded range of 1,300 Australian and international model portfolios and single investment assets.
The company is planning to implement a unified managed accounts (UMA) solution as part of the upgrade.
In a statment Praemium CEO Michael Ohanessian said: "This compares dramatically to traditional wrap platforms that have tried to overlay SMAs into their technical and regulatory architecture."
"Our new Praemium branding underscores the unified nature of our integrated custodial and non-custodial solution across a broad investment universe," Ohanessian added.
Last year the company launched five smartfunds in the UAE, as part of its drive to increase its offering in the GCC region.