Officials at the company, which is a Jersey-based subsidiary of Australia’s publicly-traded Praemium, said the integration of CRM technology with platform technology is a first for the international marketplace.
As reported here in October, Praemium gained access to the WealthCraft CRM technology last year, when it acquired WealthCraft Systems, a Hong Kong-based tech company.
At that time, Praemium executives predicted the acquisition would enable the company to offer those firms which use its international investment platform the ability to manage their customer relationships, marketing campaigns, commission/fee payments-handling for their teams of advisers, and client investment s and reporting, all from the same place.
The cloud-based WealthCraft system is integrated with Praemium’s portfolio administration technology, and is currently in use in Australia, the company said.
One of the first companies to have adopted the technology across its business is Mutual Trust, an Australia-based family office. “Several large international wealth managers” have also signed up to use the new integrated technology, a Praemium spokesman said, without revealing which companies they were.
Like its stand-alone platform, Praemium International’s new integrated platform/CRM system is also US expat-friendly, enabling advisers to easily handle the complex reporting needs of American clients.
John Martin, director of Praemium International, said the company’s new technology would enable clients to “future-proof” their business against regulatory changes, as it enables them to keep detailed records – from initial client contact through to analysis to investment selection and control – “with ease”, and “puts the adviser firms in control”.
“In some markets, such as the US, UK and Australia, firms once thought of as distributors for product providers are now adopting a more vertically integrated strategy, and significantly boosting the values of their business in the process.
“To do this requires the right technology, and to do that ‘scalably’ requires the management and investment systems to be integrated.”
