Praemium has signed an agreement with UK accounting firm Price Bailey to provide separately managed account (SMA) administration systems for the company's discretionary management business.
Price Bailey initially hired UBS to provide such systems, following the firm's decision to establish a discretionary management service.
However, in November last year UBS announced that it would cease providing the service in the UK market.
"The firm remains committed to our strategy of providing a one-stop shop that allows Price Bailey to provide clients with access to exchange traded funds and to run things the way they want to run them," Price Bailey head of private clients James King said.
Praemium will provide the standard SMA platform business that is used in Australia.
The offshore agreement follows Praemium's recent deal with Powerwrap to provide SMA technology for its wrap platform.
Praemium also has an agreement with Fat Prophets UK to launch a British adaptation of the SMA called SO Smartfund.
