Praemium confirmed that the new capabilities include access to structured product education, providing resources to improve understanding and application of structured products in client portfolios.
The integration will also see enhanced product design, allowing for tailored investment solutions that align with specific client objectives.
Commenting on the partnership, Praemium chief operating officer James Edmonds said that structured products are becoming an increasingly important tool for advisers to deliver customised solutions and meet the needs of high-net-worth (HNW) clients.
“This partnership enhances our proposition by incorporating Stropro’s market-leading structured product capabilities within our new Spectrum product, enabling advisers to expand their offering and engage with their clients on new investment opportunities,” Edmonds added.
Ben Streater, chief operating officer of Stropro, remarked: “Praemium’s advisers will have the unique opportunity to work directly with Stropro’s Investment Desk.
“Our approach provides advisers with tailored education for themselves and their clients, enhanced product solutioning, competitive structured product pricing, and advanced reporting tools to support better decision-making and investment outcomes.”
In October, Praemium first unveiled its Spectrum solution, designed to meet the complex needs of HNW investors, giving advisers the tools to deliver a “truly holistic wealth management experience”.
At the time, it said this new offering “sets a new standard for private wealth management” and reinforces its commitment to “delivering excellence and growing significant market share in this segment”.
Spectrum allows advisers to manage their account digitally, including regulatory data and anti-money laundering (AML), common reporting standard (CRS-FATCA), client classification, and fee consent.
The 2024 High Net Worth Investors report, released by Praemium in conjunction with Investment Trends earlier this year, found that the HNW investor market has grown 8.7 per cent, from 635,000 in 2023 to 690,000 in 2024, and now manages $3.4 trillion in investable assets, up from $2.98 trillion in the previous year.
Despite the growth seen in this demographic, the report found that 58 per cent have unmet advice needs, up 15 per cent to 300,000 investors.
