POWERED BY MOMENTUM MEDIA
Praemium expands relationship with Morgan Stanley
Praemium has announced a major expansion of its relationship with Morgan Stanley Wealth Management Australia.
Under the expansion agreement, the firm would provide portfolio administration and taxation reporting for portfolios with international investments.
From April, Morgan Stanley would also add a range of single investment assets to their menu which would enable them to construct individually managed account (IMA) portfolios that combine separately managed accounts (SMA) models with bespoke investments.
Currently, Praemium offered non-custodial reporting for 2,500 investor portfolios with domestic assets, through their virtual managed account (VMA) reporting solution.
“We are very pleased that Morgan Stanley will utilise our fully integrated managed accounts platform, which covers all custodial and non-custodial assets, both domestic and international, enabling their advisers to create a streamlined client portfolio experience irrespective of structure,” Praemium’s chief executive, Michael Ohanessian, said.
Recommended for you
The future of superannuation policy remains uncertain, with further reforms potentially on the horizon as the Albanese government seeks to curb the use of superannuation as a bequest vehicle.
Superannuation funds will have two options for charging fees for the advice provided by the new class of adviser.
The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remains the “urgent missing piece” of the puzzle.
APRA’s latest data has revealed that superannuation funds spent $1.3 billion on advice fees, with the vast majority sent to external financial advisers.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
36.43 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
35.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.72 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
27.64 3 y p.a(%)
