About us
Powerwrap is an independent provider of investment administration services to the financial services market. Built on market-leading technology, Powerwrap is able to configure and deploy customised wrap solutions for its wholesale partners, enabling them to provide their advisers and clients with a customised, efficient and holistic service.
The customisation process involves configuring the platform service with our partner’s choice of branding, pricing, APL and even bank accounts and term deposits.
The Powerwrap service is structured as a Managed Investment Scheme (“MIS”), with Powerwrap as Responsible Entity. Only the MIS structure allows use of SMA functionality to deliver all of the benefits of individual beneficial ownership of equities as well as the benefits of pooling, scalable as a mass market solution. Because the MIS imposes the highest form of regulatory obligations upon the Responsible Entity (i.e. Powerwrap) it reduces the regulatory requirements and compliance costs of advisers using the platform.
As well as the MIS Investment Wrap, Powerwrap offers the Powerwrap Superannuation and Pension Wrap (with The Trust Company of Australia as Trustee).
The Powerwrap Service
The Powerwrap service has a number of attributes that set it apart from the bank-owned incumbent platforms. These are made possible through the use by Powerwrap of Praemium’s V-Wrap architecture as the underlying technology that Powerwrap has built its service upon. The Praemium technology is market-proven and widely-used, with 500 wholesale partners (including global investment banks, E*TRADE and Asgard), and is trusted for the robustness and accuracy of its investment data.
Powerwrap’s service:
- offers advisers full online functionality for client establishment, transacting, reporting and tax management;
- delivers a level of accuracy of portfolio data that’s unmatched in the industry. All data in the Powerwrap system is automatically updated on a daily basis. The recalculation process applies new transactions, corporate actions and prices to ensure each portfolio is up-to-date as of the previous business day. Each recalculation updates the CGT consequences of every transaction, new prices, and corporate actions. The automated corporate actions engine delivers timely and accurate equities positions that advisers can rely upon.
- utilises Straight-Through Processing, enabling quicker, more efficient and more accurate transacting and reporting, and eliminating the typical data entry errors and peak-period bottlenecks that plague incumbent platforms. Advisers place orders within the system, which then flow through to execution, with cash automatically deducted from the investor’s linked CMA. Powerwrap manages by monitoring and exception only;
- offers a flexible, modern user-interface, that enables advisers and investors to access portfolios and ASX market data, to trade, and to re-balance portfolios;
- administers assets through a combination of custodial and non-custodial structures, that combine into a single consolidated portfolio, offering the adviser and the client unprecedented flexibility and lower costs;
- offers a suite of accountant-grade tax management tools that assist advisers to maximise clients' after-tax returns across consolidated portfolios;
- seamlessly integrates with the most commonly used financial planning and SMSF accounting solutions, maximising adviser and accountant efficiencies, and enabling more productive relationships between them; and
- is accessible via Smartphone.