Cashwerkz, Praemium ink deal

Financial advisers using Praemium's integrated managed accounts offering can now access the Cashwerkz platform.

The two firms have entered a "data feed partnership" that will allow advisers using Praemium to access Cashwerkz's marketplace offering from any authorised deposit taking institution within one platform and administration environment.

Praemium head of product and marketing Mat Walker said the deal would provide great efficiencies to advice firms, and flagged the possibility of the firms expanding their partnership in the future.

"We are delighted to welcome Cashwerkz as a data feed partner to the Praemium integrated managed accounts platform," Walker said.

"The combination of Cashwerkz broad range of term deposits and at call solutions with Praemium's market-leading open architecture, data feeds and reporting will provide great efficiencies for advice businesses."

Praemium is also exploring further adviser efficiency opportunities with Cashwerkz across each of the other managed accounts solutions on the one integrated platform for custody and non-custody," Walker added.

Cashwerkz chief executive Hector Ortiz said the partnership was a win for Australian investors.

"Our homegrown technology streamlines investor identification and onboarding for cash investment facilities and rollover capabilities which is ideal for wealth managers. There truly is nothing like the breadth of ADI partners Cashwerkz has created in the market today," Ortiz said.

Advisers using Praemium need to register directly with Cashwerkz via a secure login, before they are identified and provided with a configuration code to link them to the Praemium virtual managed account platform and their client data.

Read more: CashwerkzPraemiumAdvisersADIMat WalkerHector Ortiz
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