PRAEMIUM INTERNATIONAL

Summary

Established in Australia in 2001, Praemium is used by financial advisers and investment managers to manage or administer across the globe (almost 1,000 financial institutions and over 500,000 investors).

Praemium provides investment platforms, portfolio administration and CRM solutions. The company has offices in Australia, the UK, Jersey, Dubai, Armenia, Shenzhen and Hong Kong.

Praemium launched its services into the UK market in 2008, where it is now one of the fastest growing discretionary platforms available.

In the UK, the Praemium group is regulated by the Financial Conduct Authority.

> Global presence.

> Accurate tax and performance reporting.

> Good technology.

> Good customer service.

> Not fully open architecture.

> Complicated products.

> Could be a more expensive option.

Key Features

Praemium is a multi-award-winning platform, including the win for International Adviser’s International Platform of the Year in 2018 and 2019. Lang Cat rated them second-highest in its 2020 Platform Market Scorecard (PMS).

Praemium claims to take a different approach to other platforms in terms of what they focus on. While most known platforms are product-centric, Praemium International is portfolio-centric. They start with the investments you’ve selected and then ask how you want to hold them (giving advisers more freedom). The result is an investment-led platform.

Praemium has different terms on their platform:

  • Model Portfolio Service is called Separately Managed Account by Praemium

  • Bespoke Portfolio is called an Individually Managed Account by Praemium

  • If you wish to hold each type of portfolio for a client simultaneously, Praemium calls it a Unified Managed Account

Praemium’s integrated Managed Accounts platform is said to provide a high level of automation that can help increase accuracy, improve efficiency and lower costs.

Praemium International says that their auto-rebalancing engine eliminates “drift” between investor and model and between investors who are attached to the same model portfolio.

NOTE:

  • All Praemium’s technology is built by them.

  • They accept business from individuals, trusts, joint accounts, charities and corporates. Non-UK residents and USA connected persons are catered for via their offshore platform, Praemium International Ltd.

  • Praemium International services a whole lot of jurisdictions, including Asia, the Middle East, Europe, South Africa and beyond.

  • Domiciled in Jersey, the Praemium International account can be in: GBP, EUR and USD and provides access to a variety of assets.

  • All their accounts offer a wide range of tax wrappers: GIAs, ISAs, SIPPs, QROPS, and Offshore Bonds.

  • Praemium provides an IRS-compliant managed portfolio for US taxpayers. These are provided by specialist discretionary managers.

  • Investors have 24/7 access to their holdings at all times via the market leading “Investor Portal”.

  • They can communicate or share documents with their adviser securely through the system.

Final Verdict

This is a popular platform for intermediaries and will hopefully become increasingly used by traditional IFAs who seek to disassociate from the offshore insurance companies and offer their clients a better option for investing.

Praemium International interestingly claims to be the only platform in the UK to harness the power of machine learning and AI to offer predictive analytics on clients' behaviour. You can learn more about it on their website.

Himalaya

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