The partnership will provide advisors using Praemium with access to the Cashwerkz platform, offering offerings from a number of Authorized Depository Institutions (ADIs), in a single platform and administration environment.
“This strategic fintech alliance is another win for the organizations involved, Australian investors as well as our ADI partners,” said Hector Ortiz, Managing Director of Cashwerkz.
“The transparency of our online marketplace allows investors and wealth managers to confidently shop for competitive market rates.
“Our in-house developed technology streamlines investor identification and onboarding for cash investment facilities and refinancing capabilities, which is ideal for wealth managers.”
Mat Walker, Praemium’s head of product and marketing, said his company was also exploring other opportunities with Cashwerkz for its other managed account solutions.
“One of the key strengths of the Praemium platform is its ability to facilitate the broadest range of investment assets for consolidated reporting,” commented Mr. Walker.
“Our virtual managed account solution has long been the market leader in non-custodial investing and currently brings in over $140 billion in portfolios and investment assets.
“Combining Cashwerkz’s broad range of term deposits and demand solutions with Praemium’s open architecture, market-leading data feeds and reporting will deliver great efficiencies for advisory firms.
