Praemium’s Powerwrap acquisition pays dividends
A year down the track, Praemium’s acquisition of Powerwrap is paying dividends, with the platform provider reporting record quarterly inflow of $1.66 million.
Praemium said the September quarter inflows were 37% higher than the previous quarter and 126% higher than the same period last year, which was slightly before the Powerwrap acquisition was completed.
The company reported net inflows of $1.25 billion for the Australian platform made up of $660 million for the Praemium Separately Managed Account (SMA) scheme and $589 million for the Powerwrap scheme).
It said that funds under administration achieved a record high of $45.6 billion, an increase of 46% with Australian platform FUA of $19.9 billion comprised of $7.7 billion in the Praemium SMA Scheme and $12.2 billion in the Powerwrap scheme.
Jonsey & ALP totally screwed Advisers leaving MIS out of CSLR. Canberra collectively have blamed Advisers for 25 years for…
Yep would seem APRA have not heard of a Cashout and Recontribution strategy ??????????
Is it not a cost of completing the transaction? Why should it be removed from any analysis, applicable govt charges…
Misleading figures. We’d have millions and millions removed in our client base with LS. Almost 100% came straight back in…
Financial planners, you know exactly what will happen next. Get your wallets out- Cslr bill coming your way!