Praemium has partnered with Coin to create more opportunities in the online administration market.
Listed portfolio administration specialist Praemium has partnered with Coin to provide an automated solution said to offer advisers a best-of-breed business model.
Praemium late yesterday announced its online portfolio administration service, V-Wrap, had entered into an agreement with Coin's financial planning suite.
"By providing an interface with the industry's premier enterprise financial planning suite, we are giving financial planning firms the option to create a best-of-breed business model, which can be somewhat difficult in a market with little competition," Præmium managing director Arthur Naoumidis said.
Commenting on the new arrangement, Coin head of sales Simon Bishop said: 'We are pleased to partner with Præmium and offer clients another option in portfolio administration.
"The interface will allow advisers to add even greater automation to their business through Coin and Præmium's extensive number of platform, direct equities and accounting package data feeds."
Earlier this month, Praemium received regulator approval to provide its separately managed account (SMA) product to the United Kingdom wealth management market.
The Praemium offering, called Smartfund, is comprised of a hybrid structure combining an SMA with a retail investment scheme.
Præmium supplies online portfolio administration services (V-Wrap), market data (p-Desktop) and SMA technology to wealth managers, financial planners, accountants, stockbrokers and SMSF administrators.
Its V-Wrap currently administers in excess of $28.5 billion.
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