Praemium Limited reported a 14% year-on-year increase in total Funds Under Administration to $70.5 billion for Q2 FY26, completing the OneVue transition and seeing strong net inflows in its Spectrum and Powerwrap platforms.
- Total Funds Under Administration (FUA) up 14% to $70.5 billion
- Platform FUA rises 8% to $32.5 billion with $462 million net inflows
- Spectrum and Powerwrap platforms deliver strong organic growth
- OneVue asset transition completed, transferring $933 million to SMA
- Scope+ portfolios grow 13% with FUA up 19%, onboarding Bell Potter clients
Strong Growth Across Platforms
Praemium Limited has reported a robust 14% increase in total Funds Under Administration (FUA) to $70.5 billion for the second quarter of fiscal year 2026, underscoring the company’s strategic momentum in the wealth management platform sector. Platform FUA specifically grew 8% year-on-year to $32.5 billion, buoyed by $462 million in net inflows during the quarter.
The standout performers were the Spectrum and Powerwrap platforms, which delivered net inflows of $266 million and $302 million respectively. Spectrum’s growth was driven by strong demand for its next-generation investment and administration solution, particularly among high-net-worth advisers, while Powerwrap saw its highest quarterly net inflows since early 2022, reflecting renewed adviser engagement and stabilisation after previous exits.
Completion of OneVue Transition
A significant milestone was the completion of the OneVue asset transition, with $933 million transferred to Praemium’s Separately Managed Accounts (SMA) platform during the quarter. This final step consolidates Praemium’s platform offerings and is expected to deliver operational synergies and improved client outcomes. Since acquisition, OneVue assets totalling nearly $3.1 billion have been integrated across Spectrum, SMA, and Scope platforms.
Non-Custodial Platform Expansion
Praemium’s non-custodial portfolio administration service, Scope+, also showed impressive growth with FUA increasing 19% year-on-year to $37.9 billion. The number of Scope+ portfolios rose 13%, supported by the onboarding of new advice groups including Bell Potter. The final phase of Bell Potter’s onboarding is expected to complete in the next quarter, further strengthening Praemium’s market leadership in this segment.
Strategic Initiatives and Innovation
Beyond growth metrics, Praemium is advancing several strategic initiatives to enhance its platform capabilities and client experience. The recent acquisition of Technotia Labs aims to accelerate automation and system design improvements, leveraging AI-driven quality assurance and process automation. These efforts align with Praemium’s focus on delivering a market-leading superannuation offering and improving operational productivity.
CEO Anthony Wamsteker highlighted the company’s confidence in its long-term growth trajectory despite some adviser outflows related to legacy transitions. The easing of these headwinds, combined with sustained adviser interest and expanding platform engagement, positions Praemium well for continued expansion in Australia’s wealth management landscape.
Bottom Line?
Praemium’s Q2 results mark a pivotal step in platform consolidation and growth, setting the stage for further gains as integration and innovation efforts mature.
Questions in the middle?
- How will the final phase of Bell Potter’s onboarding impact Scope+ growth in coming quarters?
- What are the expected financial benefits and timelines from the Technotia Labs acquisition?
- Can Praemium sustain strong net inflows amid adviser transitions and competitive pressures?