Praemium announces major client deal to strengthen market-leadership in administration
Praemium is pleased to announce that following a comprehensive selection process, Bell Financial Group has chosen Scope+, Praemium’s administration solution, to support its business. Praemium will partner with the leading stockbroking and investment management firm to administer over 2,200 client portfolios by the end of 2025.
The transition represents:
-
$6bn in funds under administration
-
a 19% increase in total FUA for the Scope+ solution *
-
a 23% increase in total Scope+ portfolios*
-
a 10% uplift in overall platform FUA to approx.$68bn post onboarding*.
“This is a major milestone for our administration solution and a clear validation of our market-leading proposition,” said Anthony Wamsteker, CEO at Praemium. “We are delighted to form this partnership with Bell Financial Group and proud to support advice businesses striving for greater efficiency and scale by partnering with a specialist administration provider, so they can dedicate more time to helping their clients achieve their goals.”
The appointment underscores the growing demand for premium, scalable administration services that enable wealth management firms to focus on delivering strategic, client-facing advice.
Recent research conducted by Praemium and CoreData shows that 50% of HNW advisers predict non-custody solutions will have either a growing or essential role in wealth management over the next 3-5 years, outlining the increasing importance of non-custody investment solutions, as well as the need for expert support in administering and reporting on these assets.
Praemium is uniquely positioned to meet this growing demand and their new partnership with Bell Financial Group cements Praemium as Australia’s largest provider of Professional Administration and Reporting Services (PARS). Praemium ranked 1st for non-custody solutions and was rated Australia’s #1 platform for Security, Data and Integration in the latest Investment Trends Competitor Analysis and Platform Benchmarking Survey - critical areas for advisers managing complex portfolios and delivering high-touch service.
The partnership with Praemium highlights BFG’s continued investment in scalable non-custody solutions and high-value adviser partnerships, aligning with its strategy to lead in premium wealth solutions and capitalise on a growing high net worth investor segment.
Co-CEO Arnie Selvarajah commented “Our business is built on delivering high-value, client-centric advice. By partnering with Praemium, we’re able to focus more on our core proposition, time with clients and strategic growth. Our decision to use Praemium was centred around their specialist expertise in non-custody and HIN-based assets, comprehensive reporting, and proven service model.”
The announcement adds to a growing list of stockbroking firms that have partnered with Praemium over the last year, opening up opportunities to leverage additional platform capabilities through Praemium’s SMA solution and the recently launched Spectrum product, which provides access to a broader range of investment options and technology-driven efficiencies.
* Based on results for the quarter ended 31 March 2025.