Praemium is a leading provider of scalable managed accounts technology, portfolio administration and CRM & financial planning tools for the wealth management industry.
Help financial advisers, stockbrokers, accountants, investment managers and banks to improve productivity in an increasingly complicated and regulated industry.
Using artificial intelligence and machine learning (AI/ML) to enhance Praemium’s investment adviser portal
What they were trying to do was build an AI/ML application to create insights from the collective behaviour of thousands of investors and the advisers – Praemium’s clients – who service them. Now being integrated into the Praemium’s platform, the application will be able to help advisory businesses understand when their investor clients may need to engage with their adviser.
The Royal Commission has also focused adviser’s minds on the need for consistently good client service and engagement, the aim of Praemium’s AI/ML application
Pointon believes AI and machine learning will play an increasing role in the advice industry in supporting its transformation to a professional service industry. Praemium has also utilised AI to detect potential money laundering and other cases of abuse across the platform. With increased visibility of data, there is the potential for greater insights into the ongoing needs of clients.
Looking into the future, the Open Banking initiative and the merging of personal data from various sources, will create opportunities for a greater level of understanding of clients and therefore more personalisation of products and services. This has the potential to be extremely positive for the end customer.
Martin Morris, Praemium’s head of distribution, said the organisation prided themselves on offering solutions that meet the demands of wealth management firms. “Customised portfolios are becoming increasingly important as clients demand a more tailored investment experience and the Praemium platforms allows significant levels of customisation not only in portfolio management but online investor reporting to allow our Managed Accounts partners to deliver a unique value proposition,” Morris said.
[x]STAGE 1 STAGE 2 STAGE 3 STAGE 4
[x]Trend line Break Out
[x]Low > 21-day MA
[x]Volume > 50-day MA on volume
[x]Twigg Money Flow 21-day > 0 or Rising
[x]ROC > 0
[x]MACD > 0
[x]Twiggs Momentum Oscillator 21-day > 20% or Rising
[x] Next major resistance zone ~ 0.420
[x] Previous major support zone ~ 0.320