Praemium launches offshore platform

Praemium has launched an offshore platform based in Jersey targeting non-domiciles living in the UK and overseas investors.

Praemium will operate the discretionary platform, a version of its dps and dps-Select services, from Jersey and has secured approval from the Jersey Financial Services Commission for the launch.

Advisers with discretionary capabilities will be able to manage investments on the platform, which will also allow advisory IFAs to hold assets run by a discretionary manager on it.

Praemium UK managing director John Martin (pictured) said the launch followed interest in offshore platforms from advisers operating in that section of the market.

'There are currently few alternatives that provide platform-based solutions in this area, and none update client portfolios as efficiently and cost-effectively as we can,' he said.

'We see significant opportunity for a multi-currency platform which will provide access to investments managed either directly or within Qrops and offshore bonds in many different jurisdictions.'