Portfolio provider Praemium has renewed its agreement with wealth manager Morgan Stanley Smith Barney for another three years.

The extended agreement follows the release of Praemium's online software V-Wrap and SMARTwrap in conjunction with Morgan Stanley Smith Barney (MSSB).

Arthur Naoumidis, group chief executive of Praemium, said the agreement renewal identified V-Wrap as the industry solution for wealth management firms to achieve business efficiency.

"(It does this) through the use of modern investment administration and tax management functionality not available from the traditional wrap account and master trust providers," he said.

Naoumidis said MSSB executes trades for research that financial advisers can use with their investors.

"They are a significant, well-resourced global operator and an association with Morgan Stanley Smith Barney will enhance any advisers' offering to their clients and guarantee a first class result."

MSSB has a history with Praemium as one of its first broking clients that also focused on investment advisory services.

"I am proud of our six-year relationship with Morgan Stanley Smith Barney and delighted that the extension of our agreement allows us to continue to deliver to them our first class portfolio administration services," said Naoumidis.

Praemium is a leading supplier of online financial portfolio administration providing services to more than 500 financial institutions and intermediaries.

Its separately managed account technology has generated over $46 billion of asset funds in Australia to some of the largest financial institutions, the company said.