Shadforth Financial Group, one of Australia's largest privately owned financial advice firms with more than $8 billion in funds under advice, has signed a deal with a technology provider to provide direct equity services to clients.

The financial advice group signed Praemium to provide portfolio administration services to its clients.

Nick Bedding, chief executive of the advice division at Shadforths, said the group was looking for a highly efficient and scalable solution that would allow the group to centralise its back office.

Bedding said the deal is aimed at its higher net worth clients, which accounts for around 15 per cent of their client base.

"We believe Praemium is the answer for us to support client demands for more sophisticated investment outcomes which increasingly require a greater focus on direct assets and the ability to report and manage tax outcomes at the consolidated level," said Bedding.

The announcement came after Tony Fenning, chief executive at Shadforths, said last month that the group uses BT Financial's Wrap platform for the majority of its managed fund and investment needs but wanted an external provider for the direct shares capability.