Bell Potter selects Praemium

Financial services technology provider Praemium has won a key mandate with Bell Financial Group selecting it to provide administration to over 2,200 client portfolios.

Praemium announced the partnership to the Australian Securities Exchange (ASX) noting that the arrangement would result in a $6 billion increase in funds under administration, a 23% increase in portfolios and a 10% increase in group total FUA to approximately $68 billion.

The announcement said the partnership reflected growing adviser demand for high-quality, scalable administration services to enhance operational efficiency and support the delivery of wealth solutions.

Praemium chief executive, Anthony Wamsteker said the mandate represented a milestone for the firm’s Scope+ offering.

Bell Potter co-chief executive, Arnie Selvarajah said that by partnering with a specialist provider such as Praemium for administration, BFG was able to free-up its team to spend more time with the clients.

The Praemium announcement said the development highlights the group’s continued investment in scalable non-custody solutions and high value adviser partnerships.