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Showing 1 - 10 of 104 results for "Powerwrap"

OneVue, Spectrum drive Praemium to record FUA

JAMIE WILLIAMSON  |  THURSDAY, 24 APR 2025
... executive Anthony Wamsteker said. Meantime, separately managed accounts gained 10% with FUA coming in at $12.3 billion, and Powerwrap's FUA grew marginally to $13.3 billion, up 2%, but also had net outflows of $66 million. A further $32.3 billion is ...

Praemium FUA up 33% to $60bn

ELIZA BAVIN  |  TUESDAY, 22 OCT 2024
... realisation, technology and product transition and transitional services," Wamsteker said. Despite the mostly positive result, Powerwrap's gross outflows from transitioning advisers were around $1 billion for the financial year and continued in the September ...

Praemium loses $700m due to adviser transitions

ELIZA BAVIN  |  THURSDAY, 18 APR 2024
... Praemium is feeling the pressure from financial advisers moving advice groups and transitioning their clients away from Powerwrap. In its March quarterly update, Praemium chief executive Anthony Wamsteker said the Powerwrap scheme experienced $53 million ...

Powerwrap bleeds $334m in outflows

KARREN VERGARA  |  WEDNESDAY, 17 JAN 2024
Praemium's platform dedicated to the high-net-worth segment, Powerwrap, has lost $334 million in funds under administration (FUA) after a small number of financial advisers switched advice groups. The ASX-listed firm said the exit of advisers in the ...

Praemium sees record earnings jump

CHLOE WALKER  |  MONDAY, 27 FEB 2023
... made up of $20.9 billion on its platform (up 7%), $9 billion in separately managed accounts (up 11%), $12 billion on Powerwrap (up 11%), and $21.8 billion in non-custodial holdings (up 4%). Despite the growth, it recorded a 53% decline in overall inflows ...

Praemium extends partnership with largest client

CHLOE WALKER  |  TUESDAY, 14 FEB 2023
Praemium's wholly owned subsidiary Powerwrap has renewed its partnership with Escala Partners for a further six years. Escala Partners is Praemium's largest client, with approximately $7 billion of funds under administration on the Powerwrap platform. ...

Praemium takes 53% hit to inflows

CASSANDRA BALDINI  |  MONDAY, 23 JAN 2023
... (SMA) increased by 11% to $9.0 billion from $8.1 billion. "The December quarter of the 2023 financial year has seen both Powerwrap and Praemium's SMA scheme continue to generate positive net flows," Wamsteker said. "The SMA is our cornerstone product ...

AMG Super hires to distribution team

CHLOE WALKER  |  THURSDAY, 5 MAY 2022
AMG Super has appointed the former head of distribution at Powerwrap to a business development role. Richard Carr is joining the super fund as a business development manager, based in Melbourne. In this role, he will oversee distribution in Victoria ...

Record FUA, revenue for Praemium

KARREN VERGARA  |  MONDAY, 14 FEB 2022
... million loss after achieving a $2.8 million profit in the prior corresponding year. The results reflect the performance of Powerwrap, which was acquired in 2020. Praemium is in the process of selling its international business to Morningstar for $65.1 ...

Praemium reports key milestone achievement for 2021

CHLOE WALKER  |  MONDAY, 17 JAN 2022
... About$8.5 billion of this went into the Praemium SMA scheme, up 39% compared to the prior year, and $12.6 billion was in the Powerwrap scheme, up 22% compared to the prior year. "We are delighted to report continued outstandring momentum this quarter ...
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Editor's Choice

Blue Owl launches fund to sophisticated investors

KARREN VERGARA  |   12:34PM
Alternatives fund manager Blue Owl Capital has launched a private credit fund to local investors in partnership with Koda Capital.

Mercer SmartPath returns exceed 12%

KARREN VERGARA  |   12:30PM
Mercer Super Trust's default lifecycle option made more than 12% p.a. for the 2025 financial year for members aged between 18 and 52.

Future Group reveals super fund returns, fee changes

ELIZA BAVIN  |   12:16PM
Future Group has revealed the returns for smartMonday, GuildSuper and Child Care Super while also announcing a fee reduction.

Adviser receives permanent ban over 'dishonest' conduct

MATTHEW WAI  |   12:34PM
ASIC has permanently banned financial adviser Barry David King of Melbourne following several years of misusing client funds and falsifying documents.

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