Welcome, everyone. Thank you for your interest in the Praemium Quarterly Update. It's nice to see so many people registered and joining the call. I'm joined today by James Edmonds, our Chief Operating Officer, and so James will be joining me in presenting some of the information that's already been released on the ASX and putting a bit more color on that. Once James and I have finished going through the presentation, which shouldn't take too long, as is usually the case, we have an opportunity for Q&A. I think everyone on the call is familiar with how to lodge questions into the Q&A. I know that there's a number of questions coming through already, which is tremendous. As is usually the case, we will curate the questions somewhat because that just allows us to deal with as many as possible where there's some repetition between the questions. If I just move on to the disclaimer, our first traditional custodians of country and pay our respects to their elders past and present, and then the usual disclaimer. Because James has such a wide remit in Praemium, I'm going to ask him to deal with the strategy progress, as often that's what I will talk about, but I'll leave that with James today because most of the areas of progress are in James' remit. We will go on to the FUA, and the flows, and the detailed tables before handing over to you for questions. I'll now hand over to James to talk about our progress on the strategy front. Thanks, Anthony. Thanks very much. Good morning, everyone. Yeah, as Anthony sort of said, I'm going to cover off a few key areas in our strategy progress over the last three months. It's been a really exciting quarter for us. Obviously, we've had a lot of focus on completing the OneVue integration over that time. There's a lot of work going on in that space for us, really just sort of working across. In the product space, in line with our product strategy that we've developed over the last six months, we are pleased to announce that we're actually starting to start work on the upgrade of our mobile application. This is something that our advisors have been really requesting over a couple of years from us to help really their engagement with their clients. At the same time, the launch of Spectrum at the end of last year has resulted in a lot of excitement and a lot of interest from potential clients. The product team and groups are really focused on developing a number of white labels for groups that were actually in the process of onboarding. We've had a lot of good business wins, and as a result, we're seeing a lot of change for that. In line with our desire and efforts to be the leading in alternative investments, we've done a lot of work over this quarter in the structural investment space, most notably leading with webinars that we've been hosting with advisors to really help with the education and training and what our capabilities are in that space. One of the key initiatives that we've had over the last six months has been in service excellence. Both our operations and our customer service teams have been really focused on improving the overall levels of service that we're providing to clients. That has come in a number of different forms. We have basically gone back and reset the KPIs and the expectations that we have in terms of delivery to clients. We have also done a number of initiatives to improve the service standards. That includes better engagement with clients, being more responsive to their calls and to their queries, and also increasing the amount of quality assurance that we're doing. We're actually just about to launch a pilot program to use AI to drive our quality assurance and having better insights into how we can actually improve that service going forward. As part of that service excellence program, we have also developed and rolled out a new advisor onboarding process. This will dramatically improve the time to market that we have for onboarding new advisors, cutting it down from weeks to days. There are further improvements that we're going to be making over that over the course of this year. In the superannuation space, we've been really focused on this because it is a core driver for our business. We've made significant improvements with the current administration provider that we have, and we've really been proactively engaging with them to make sure that we're delivering a better service to the end investors. We've been working with our trustee as they complete a review of the administration options that are out there. We've also been expanding our in-house administration capability and looking to take on more of the responsibility of delivering that service to our clients. Finally, in the organic space, I touched on it before, but a lot of the work and a lot of the effort that is going across all of our teams, whether it be product, operations, technology, has really been on focusing on completing the OneVue integration. We are really committed and driven to having that done within the timeframe that we have laid out and within the budgets that we have set. A lot of the heavy lifting for that is really beginning to kick off now, and that onboarding process will continue through the next couple of months. Obviously, in the inorganic space, we are always vigilant for opportunities, but obviously, the ELT and the business as a whole is really prepared to take a disciplined approach to that. With that, Anthony, I will pass it back for the numbers. Thanks, James. We'll come back to you with some of the questions. If we just talk about the flows, first of all, talk about the platform side. This quarter is really the beginning of starting to understand Praemium as a platform business in entirety rather than separate platforms. We are not planning to lower the level of disclosure that we give in the short term, but in the long run, I think shareholders should think about this as an overall platform business. By that, I mean Spectrum is now our leading product. As much as we can, we will promote Spectrum to our prospects in our sales pipeline. One of the investment options in Spectrum is the managed account product. Now, when money comes into Spectrum and then goes into the managed account, we disclose that as a Spectrum flow. We make sure, of course, that that means that we avoid double counting in what we do. Power Up will still most likely continue to grow, but we do not try to sell new advice groups into Power Up. We offer Spectrum for new advice groups. The same for OneVue. We do not try to sell new advice groups into OneVue. We offer Spectrum as a product. Now, it is up to each individual advice group how quickly they might transition from Power Up or OneVue into Spectrum. Not so much with the OneVue clients because that will be a forced migration thanks to the work that our team have done on that. We can manage that transition differently. Power Up, we have never said that the Power Up advisor will have to transition from Power Up to Spectrum. That said, there is probably going to be some of that down the track, although I hasten to add that's not a big factor in the half a billion dollars that flowed in or that Spectrum now has. It's almost negligible the Power Up flows into Spectrum to date. Overall, what you need to think about the business as an overall platform business with the $ 30.1 billion and the net inflows of $ 364 million. I probably won't cover anything else on that. I think the only thing I do want to draw a little bit of attention to is the Power Up departed advisors. We've said for a while now that we expect that that will gradually come to an end, and that is indeed starting to happen. I think we'll see how it goes next quarter, but it could well be that we stop worrying about reporting separately the amount of money going from the departed advisors because you can see having averaged about 250 million a quarter for about a year or a bit more, it's coming to a much lower number. If I move to the non-custodial, and obviously with this slide, we give you a sense of the number of accounts in both Scope and Scope Plus, but we also give you the FUA. In Scope Plus, I think everyone's attuned to the fact that the revenue is driven more by account numbers. You need to understand we look at the FUA, too, because what we're doing is providing a service to our advice groups. The amount of FUA is a good reflection of the level of penetration amongst our advice groups that we're getting. Even though the FUA does not really drive the revenue, it does highlight the important contribution that non-custodial makes for our advice groups. It is clearly, when you look at it, Scope Plus is the leading non-custodial administration service in the market. It has a market-leading position. That is different, as you all know, from our position in platform, where we are not number one in the market by any stretch of the imagination. Depending on how the different groups record the information, we are either the seventh or eighth biggest platform. We are number one in non-custodial administration service and indeed software as a service for non-custodial portfolios. That is very important because we have a view that the market as a whole, but particularly our segment of high net worth advisors, will increasingly need to offer both a non-custodial and a custodial solution to their client base because of the complexity of the portfolios that they are advising on. Increasingly, our sales pipeline has potential prospects where the service needs to be across both for that advisor to be able to serve the needs of their clients. Very important part of our business. Obviously, you know we do not cover the revenue in the flow information, but obviously, the impact in terms of the sales pipeline of having the market-leading non-custodial service is very important to us. When we go to the more detailed tables, I put them up there. We are very happy with the progress that we are making for the platform business as a whole. Obviously, as I said earlier, we're not going to reduce the level of disclosure that we give for a while. We do break it out into all of the different platform products that we have. We would anticipate that at some future time, people will think of Praemium as the platform business as just a platform offering similar to what just about all of the other platforms are able to do and not go into quite the level of detail. With that, I'll now start to deal with the Q&A because there have been a lot of questions, and we're very grateful for the interest. As I say, if I miss a question, you're welcome to contact me later, but I will try to cover them off. One of the questions is just around the client numbers in Spectrum and the pipeline clients. There is quite a bit of interest in Spectrum. Obviously, we're pretty happy with the rate of progress in Spectrum getting up to over half a billion dollars already. The questions are around number of clients, number of advice groups, and some questions around, do you think this is the beginning of that sort of rate of flow for the long run? Certainly, our aspiration for the platform is that we feel having got Spectrum into the market, we're confident with what we offer, we're confident with our sales team and the way they're working. We've got a high level of encouragement from our sales pipeline. We do expect that we can win a greater share of what is an ongoing shift. I talk about the shift in market share from the older, more legacy platforms to the challenger platforms continues at a very rapid rate, something like 2.5% to 3% market share shift, as well as strong organic growth as the size of the platform market increases. If we get what we think of as our fair share of that, having now a complete product suite to offer to the market and one of the top three platforms in scoring on functionality and service and the like, we feel we should get a much greater share than we have in the past of that migration as well as the organic growth of the market as a whole. I am not going to forecast that we will get this much every quarter. We will wait and see how it comes over time, but we are confident of where we are going. Around the lumpiness, it's inevitable that at the start of a new product, there will be some lumpiness in flows, and we've observed that even within the quarter. Now, I'm not going to get to telling you monthly. We present to the market four times a year on flows. I'm not going to go to monthly flows, but there is a level of lumpiness that people would be aware, both because it's a new product and also because it's a high net worth client group that we're serving. Sometimes you win a client that's $100 million. Other times, you just get a consistent flow. There's a bit of all of that going in, but there's quite a few advice groups that are now migrating funds onto Spectrum. We have got a question about the two products that are not really open to new business. We've got some questions around Power Up and some questions about OneVue. On the OneVue side, it's noticeable still that there's over four billion dollars in FUA. At the half-yearly results, we said we're not provisioning for an earnout on FUA. There is still an expectation that we probably don't need a financial provision for an earnout. People quite rightly say, "Doesn't that mean another billion dollars is going to flow off OneVue?" That is likely. The earnout is not 100% linked to the FUA being three billion dollars. There is an element of the stated intent of the advice groups. A stated intent that hasn't yet migrated off is what is being reflected in the numbers to date. We do think eventually the FUA from the OneVue clients probably heads closer to three billion dollars, but it hasn't yet happened. That FUA will most likely occur over the next six months or so. Certainly, a lot of that starts to happen as we close the platform. As James said, we've got an internal timeframe and target for that, and that's progressing pretty well. We would anticipate closing the OneVue platform. Certainly, everyone knows we're going to do that before the 30th of September, but internally, we would like to do that a bit earlier. There is a question about Power Up. I've said already we're starting to see the tail end of some of the departed advisors. There is a question about advisors who went to CODA, and there has started to be some FUA shift. I'm not going to go into the private client information of those advisors who have shifted from one to another, but in our disclosures, we don't see that as an outflow because the advisors are still with Power Up. Power Up is a platform that is within the CODA stable, and so the FUA doesn't have to roll off the platform. That has been different from where the platform, the advice group that the advisors have gone to, doesn't use Praemium because of strategic decisions at shareholder level, as I understand it, within Crestone. There is a question about how we see the trade-off between portfolio numbers and price rises that we're putting through on Scope Plus. Certainly, when we took the decision around pricing, we're obviously sensitive to market pricing. As I've said, we're the market-leading offer, so we feel we can command a sensible price for the offering that we make. We certainly were conscious that you might have some portfolios roll off with the price increase, but overall, you should see a lift in the overall revenue. There's nothing to suggest anything different as part of that. There is a question about the SMA outflows relative to inflows. The outflows are typically a pattern to outflows. There's obviously a seasonal pattern to outflows, but there's also just a pattern of outflows relative to the size of the FUA. They're typically relatively stable, not exactly the same, but relatively stable over time. Whereas the inflows can go up and down more. The managed account scheme, I know in the past I've had some questions about its sales impact seem to reduce. The net flows, which are the difference between two large numbers, the gross inflows and the gross outflows, produce the net inflows. If the outflows are, as I say, typically relatively stable over time, other than a seasonal impact relative to the size of the book, there's just a certain number of clients who are taking pension payments or moving money off the platform. The inflows are more volatile, and hence the net flows are more volatile. Managed accounts, part of the reason we built Spectrum is we were losing traction in the market because we'd gone pretty close to saturating the market for those who wanted managed accounts only. The people who said, "I'm going to run all my business on managed accounts and I don't need a full wrap service," there's a limited number of advisors like that. Most advisors say, "I want to run managed accounts, but I also need the functionality of a wrap. So I need both." We did not have both. We only had a managed account. Now we have both. Part of the reason we knew that we needed the full wrap was because we were noticing that we were reaching saturation of those advice groups who only needed managed accounts. There had been a trend over time prior to the launch of Spectrum that we were losing a bit of traction in the gross inflows. That was having an impact on the net flows. We feel we have addressed that with Spectrum and with the sales strategy that we have launched around Spectrum. There is a question about if OneVue does land at three billion in the long run, do we still get three million of synergies? The answer is yes. We will still target three million of synergies. Indeed, the challenge we have and internally we accept is that if the revenue declines, we should get more synergies so that we can ultimately aim for a three million EBITDA line from the OneVue clients and business that stays with us. You might ask, "Well, if your revenue drops by another million, for example, how can you go from three to four million?" The reality is what we have done with the OneVue clients is we've been very deliberate in the way that we've gone about looking at that business. The costs of running the FUA that's dropping off were roughly equal to the revenue that we're generating. If we were generating $1 million revenue that drops off, it's more than likely there's $1 million of additional costs, not synergies, just the cost of running that business. We do feel that there'll be more synergies if the revenue drops. The other point I'd make about it, the revenue shouldn't drop by a quarter. If the FUA landed at three, it's not like the revenue should drop by a full 25% just because the FUA's dropped by 25%, because some of the FUA that drops off is lower margin business. Some of the retained FUA will move to a higher overall revenue rate because just as we adjusted the revenue on the Praemium platform business, we have also adjusted the revenue to what we regard as the market rate on the OneVue business. Do you want to cover off on a couple of those questions around the development? Yeah, So I'll let you take a breath. Yeah, so there's a couple of questions both related around what we sort of see our R&D and the integration of our custodial and non-custody solutions. As Anthony has sort of said, one of the strengths of Praemium and a real differentiator is the fact that we're now able to provide to an investor or to an advisor effectively an integrated solution when it comes to both custody investments and holding non-custodial assets. A lot of the investment that we're really going to be making over the next coming years is really how to make that an even more integrated and more seamless solution, whether it be through additional trading options and capabilities through the advisor platforms or reporting solutions that allow for advisors to be able to provide really detailed insights to their investors across all the assets that they may hold. I think the other area that we're going to be making that investment is into the data integrations. One of the things that we're looking at is how we can continue to build out the data feeds that we've already got to allow for advisors to bring into the reporting packages that we have a one-stop shop, effectively a total wealth view for their clients. A lot of the investment we're going to be making as we think about FY26 is going to be into, as we've sort of already stated, the mobile app to allow for advisors to provide their clients with insights and views. That will be an app that brings in all of that wealth, whether it be the custody or the non-custodial holdings. Great. Thanks, James. There's a few questions around the volatility of the markets. In the past, I've talked a little bit about some of the ups and downs, not of the market. The markets are ups and downs, of course, but there's positives and negatives of market volatility. On the positive side, market volatility typically leads to somewhat higher levels of trading, and we obviously make a margin on the trading volume. It sometimes leads to higher cash holdings. Both of those, at the margin, and I don't want anyone to read too much into it or adjust spreadsheets based on it, but at the margin, we have seen that in recent times, those two positives. On the downside, obviously, if markets go down, the FUA drops, and some of the revenue is linked to the amount of FUA. Some of the revenue is more stable and just based on account numbers or capped or the dollars are capped. Some revenue is linked to FUA, so we have that impact. The other negative is that obviously, if you're an advisor and the markets are volatile, you're spending more time talking to your clients about their portfolio composition and what the lower value of their portfolio means for their ability to draw down on the amount of money that they've got. The conversations are less about shifting from one platform to another and more about reassurance. Those are the two negatives. All of that is in the mix with the recent volatility. As you all know, typically, once you have a period of volatility, except in really extreme events, it tends to go away. We note it, and we monitor what's going on internally, but we do not think it reflects any underlying long-term shift in the way the platform market is behaving at the moment and the composition of the long-term market. We get questions about Euros, and obviously, some clients we do announce, and Euros was a client that was a big enough client that we made an announcement. I'm not going to get into private information about Euros and their business, but part of the inflow into Spectrum is Euros. Is there more to come? Based on the relationship we've got with Euros, we expect that that will be part of the flows that we might expect into Spectrum for some time to come. Once an advisor moves to a new platform, depending on the size of the advisor, but you can see flows for quite a long time, 12-18 months. It wouldn't surprise me if there's a long-term involvement in flows coming out of Euros and the other clients that we've run into Spectrum. There's a question about Spectrum inflows and the impact on SMA. We do record the inflows that come into Spectrum. In Spectrum, we had to make that decision, and we've got to avoid double counting. If a hundred million flows into Spectrum and then it goes to SMA, we will report that as a Spectrum flow. It is consistent with the desire that we've got, as I say, not to reduce the level of transparency, but ultimately to just say, "This is a platform business." Hopefully, at some future date, maybe a year or two down the track, we just can say, "Here are the flows into the platform, and here are the non-custodial assets." There is also a question, quite a good question, about should we think of Spectrum revenue differently to SMA? The truth is one of the drivers and the most important driver of the revenue margin, which we're very transparent about and disclose that very often in our reports, the financial reports, our level of disclosure around revenue margins is, I think, exemplary in my view and transparent, which is what we try to do with our shareholders. The biggest driver of that margin, which has been as high as 40 points in SMA, is the average account size. We think the revenue margin probably drives down a little bit because we think the average account size in Spectrum will be higher than in the SMA. That will gradually reduce the revenue margin, but obviously, the dollars of revenue will go up because 30 points times million is more than 40 points times 300,000, for example. The other driver of it is we get some revenue on cash holdings and some revenue on trading volumes, and that may be different based on it being a wrap account rather than a managed account. That will emerge over time. You should see something there. The biggest driver will be the average account size. I think we're going to call it to a close. I know there's one or two other questions that we haven't got to. I'm sorry, but we have run out of time. I will try to reach out to the two or three other questions individually that we didn't get. Very grateful for, again, your interest in our presentation and for attending the call, particularly last day before another long weekend. Thank you, everyone, for your interest. Thanks, James, for joining me on the call. I'm sure you'll see a lot more of James in future calls. Enjoy the rest of the day. I'll probably touch base with those one or two questions that we didn't get to on the call later in the day. Thanks, everyone.