Praemium and CARM marry systems
Praemium Portfolio ServicesandCARMGPS have agreed to integrate their respective business platforms, to streamline and industrialise sales and business processes for financial planners, stockbrokers and accountants.
The integrated systems will provide a more comprehensive data storing and analysis program, allowing users to work through the financial planning process emphasising critical parts of the Financial Services Guide, collect client data, and illustrate the consequences of various investment choices.
Praemium’s online service consolidates listed securities, managed funds and other assets including property and syndications, and takes data feeds from existing wrap accounts, while CARM brings an automated and controlled lifestyle planning system to the table in its Guided Planning System (GPS).
The integration of GPS with Praemium’s portfolio service, capital gains tax and corporate action processing capability will facilitate data transfer and provide consolidated reporting.
Praemium managing director Arthur Naoumidis says that to date the company has formed alliances with planning, data, compliance, custody and transactional services, which he says is “a sign of where financial planning is headed”.
Last month Praemium signed a deal with InvestmentLink to integrate its system with the latter’s e-Portfolio adviser hub service.
CARM also entered into an agreement earlier this year withAvanteosto provide the GPS platform toSymetry, and says it is currently negotiating with other corporates to provide GPS to their customers.
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