Financial services group Praemium plans to roll out its V-Wrap service to a number of external groups within Australia and the UK.
News of Praemium’s expansion plans follows the signing of a new deal between the online portfolio administrator and Macquarie Equities.
“We’re pitching quite a bit,” Praemium managing director Arthur Naoumidis said.
“Clearly, as a company, we’re actively pitching our V-wrap and SMA [separately managed account] in Australia and in England.”
Naoumidis is currently in the UK working on pitches and setting up the company’s UK business.
“We’re been setting up a business here in the last year and [I’m here] to help people along with pitches that we’re doing with very large groups,” he said.
Naoumidis would not comment on any further deals.
Under the terms of the deal, a Praemium Group company will provide the V-Wrap service to Macquarie’s equity advisers.
Commenting on the deal, Praemium’s national sales and marketing manager Warren Gibson said: “We previously supplied the service to a small number of Macquarie advisers who had taken up V-Wrap because of existing client relationships.
“We believe that the implementation of V-Wrap has support amongst the adviser community within Macquarie”.
Macquarie Equities Ltd is part of the Macquarie Bank group – an independent Australian full service investment bank.
Praemium supplies V-Wrap and SMA technology to wrap providers, financial planners, accountants, wealth managers, stockbrokers and SMSF administrators in Australia.
