Praemium expands relationship with Morgan Stanley
Praemium is delighted to have extended its relationship with Morgan Stanley Wealth Management Australia, to transition 2,500 new portfolios to the Praemium platform, with an incremental contract value of approximately $1 million per annum.
The Praemium integrated Managed Accounts Platform, launched earlier this year, offers adviser groups a one-stop-shop to operate multiple investment approaches, by blending custody and non-custody solutions on a single technology platform. It’s an approach that is seeing increased interest from advisers.
Since 2005, Morgan Stanley has utilised Praemium’s Virtual Managed Account (VMA) non-custodial reporting solution for 2,500 investor portfolios with domestic assets. Under the new agreement, a further 2,500 portfolios with international assets will be added over the next 2-3 months. Praemium will also provide portfolio administration and taxation reporting for portfolios with international investments.
Praemium CEO Michael Ohanessian said, “We are delighted to be further extending our long-standing relationship with Morgan Stanley. Having utilised our non-custodial VMA service for over a decade and then expanding last year to include our Separately Managed Account (SMA) custodial platform. From April, Morgan Stanley will also add a range of single investment assets to their menu, enabling them to construct Individually Managed Account (IMA) portfolios that combine SMA models with bespoke investments.
“We are very pleased that our fully integrated Managed Accounts Platform, will enable Morgan Stanley and their advisers to create a streamlined client portfolio experience irrespective of structure.”