Merrill Lynch partners with Praemium
Arthur Naoumidis
Merrill Lynch Equities Australia has appointed portfolio administration provider Praemium to service its private client wealth management division.
Praemium’s signature online service V-Wrap will provide the Merrill Lynch private client base with consolidated reports covering multiple asset classes as well as tax reports.
Merrill Lynch Australia market director and head of global wealth advisory, Tom Alexy, said the partnership will enable the firm to better cater for its increasingly sophisticated and globally-aware high-net-worth clients.
“This partnership with Praemium will provide our clients with the best-in-class tax reporting and portfolio administration service in Australia and enable us to combine our offshore multicurrency capabilities in both emerging and developed markets with our leading onshore research and domestic equity, derivative and prime brokering capabilities.”
Praemium’s V-Wrap service currently administers more than $28 billion.
AUTHOR
George Liondis
Recommended for you
AFCA has revealed to Money Management the number of Dixon Advisory complaints it has closed so far out of the more than 2,700 total complaints received.
The Financial Advice Association Australia is launching a new brand awareness campaign that includes promoting the advice profession as an attractive option for career changers.
Half of financial advisers and wealth managers in Asia-Pacific plan to increase their clients’ exposure to private equity and multiprivate asset solutions, according to a survey by Schroders.
The former Iress chief executive has joined an NSW advice firm, Profile Financial Services, as an independent non-executive director.
