Euroz Hartleys goes all in on Praemium

Patrick Buncsi

20 November 2024

ASX-listed wealth management firm Euroz Hartleys has announced a “milestone” expansion of its partnership with advicetech developer Praemium.

The Perth-based wealth manager has confirmed it will adopt Praemium’s “full product suite”, including its recently launched platform for high-net-worth clients, Spectrum.

Euroz Hartleys will over the next 18 months move to onboard more than 1,000 portfolios to Scope, Praemium’s adviser reporting and administration platform, and transition approximately $2 billion in funds under administration across its private wealth solutions, including Spectrum.

Praemium began its partnership with Hartleys in late 2017, prior to its acquisition by Euroz in 2020, where it adopted Scope.

With the integration of Praemium’s full product suite, Euroz Hartleys will hope to “streamline processes, enhance efficiency, and elevate the customer experience”, the advicetech said.

Euroz Hartleys executive chair Andrew McKenzie welcomed the “deepening” of the partnership between the firms.

“This strategic decision aligns with our vision to continuously innovate and deliver a tailored solution to our clients leveraging Praemium’s consolidated reporting to offer a seamless adviser and client experience,” McKenzie said.

Praemium boasts that its complete wealth management platform provides advisers with an all-in-one solution to manage, report, and administer complex and sophisticated wealth portfolios.

Based in Western Australia, Euroz Hartleys provides a broad suite of services to its private, institutional, and corporate clients, including wealth management, corporate finance, stockbroking, institutional sales, and research services.

As at end of FY2024, the firm counts more than 24,000 clients, $3.89 billion in funds under management, and around 190 employees in its Perth office.