Praemium (ASX:PPS) announced its third-quarter update for the 2026 financial year, headlined by an 18% year-on-year surge in total funds under administration, reaching a record $73.7 billion.
The growth comes alongside an internal transformation, as the firm’s technology function undergoes a formal restructure following its merger with Technotia.
The group’s "platform" segment proved resilient against global market volatility, which saw a negative market movement of $923 million.
Despite these headwinds, total Platform FUA rose to $32.2 billion, supported by quarterly net flows of $598 million.
A primary driver of this momentum was the Spectrum platform, which recorded $502 million in quarterly net flows, bringing its individual FUA to $4 billion.
The performance was bolstered by high-net-worth adviser demand and an expanded menu of 172 new investment options.
Meanwhile, the "non-custodial portfolio administration" segment, headlined by Scope+, experienced exceptional expansion.
FUA in this category grew 28% to $41.5 billion, with the total number of portfolios increasing to nearly 12,000.
Praemium attributed much of this success to the ongoing migration of the Bell Potter Private Wealth business, a strategic partnership established in mid-2025.
While the company noted gross outflows of $175 million from exited advisers, management expects these figures to diminish.
At the time of reporting, Praemium’s share price was $0.74.