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.
I think these numbers are too low. Especially if you live in major cities. I try to ensure none of…
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Always back self interest when a body is marketing a submission to the government
In other words the system is achieving what the government wanted to happen.
Every day I come on here it feels like it is just the SMC trying to lobby to make one…