Praemium unveils sophisticated wealth management solution
Praemium has unveiled the next evolution in its wealth management suite with the launch of Praemium Spectrum, designed specifically for financial advisers who serve high-net-worth clients. Tailored to meet the complex and sophisticated needs of these investors, this innovative solution offers unparalleled access to a comprehensive range of assets, tools, and capabilities required to deliver a truly holistic wealth management experience.
Built on Praemium's long heritage of delivering cutting-edge wealth solutions, Spectrum provides seamless onboarding, trading, and execution processes, along with the digitisation of advice, all within a scalable and integrated platform, setting a new standard in private wealth management.
Key Features of the Spectrum product include:
- Unrivalled asset selection and portfolio construction flexibility: With the ability to access a breadth of alternative assets, domestic and international equities, bonds and managed funds, term deposits and managed accounts, and report on both custody and non-custody assets in a single consolidated technology solution, Spectrum offers advisers the flexibility to design sophisticated total wealth solutions.
- Streamlined Adviser Portal: Praemium’s Adviser Portal receives a comprehensive update, empowering financial advisers with enhanced trading capabilities through the new Asset Preference List (APL). Wholesale investment controls and follow-up mechanisms have also been integrated to enable better portfolio management and customisation.
- Seamless Data Integration: Spectrum seamlessly integrates with broker order pads and bank data feeds, enabling fast trade execution and access to crucial investment information for advisers and investors.
- Effortless Investor Onboarding: The upgraded Applications Portal offers investors a user-friendly and digital onboarding experience. With automatic form generation based on client investment requirements and options for both digital acceptance and paper applications, investors can choose their preferred method, ensuring a frictionless onboarding process.
- Digital Account Management: Advisers can now manage their accounts digitally, including regulatory data and Anti-Money Laundering (AML), Common Reporting Standard (CRS-FATCA), Client Classification, and Fee Consent. This digitisation ensures compliance and reduces administrative burdens for both investors and advisers.
"We are thrilled to launch Praemium Spectrum, as it brings together the breadth and depth of experience that Praemium has in servicing our private wealth clients, in a flexible structure that we believe no other platform can truly match. With Spectrum’s ability to report on total wealth across custody and non-custody and deliver a comprehensive digital onboarding and service experience, our advisers are better equipped to cater to the increasingly unique requirements of their high-net-worth investor client base," said Anthony Wamsteker, Praemium’s CEO.
"This platform advancement embodies our commitment to empowering advisers with cutting-edge tools, seamless onboarding, and digitised investment management capabilities, enabling them to provide unparalleled services and achieve exceptional outcomes for their clients."
With its innovative features and comprehensive offerings, Praemium’s next-generation Spectrum solution sets a new standard for private wealth management and reinforces the company's commitment to delivering excellence and growing significant market share in this segment.