Fisher Funds partners with NZX Wealth Technologies

Fisher Funds is shifting part of the Kiwi Wealth business it acquired this year to NZX Wealth Technologies platform.

Monday, December 18th 2023, 5:17PM

On the move is $1.6 billion in its Private Portfolio Service, a DIMS service originally offered to Kiwi Wealth high-net-worth clients.

It says the move is an upgrade from the Kiwi Wealth legacy systems to a modern framework that provides scale and flexibility.

Fisher Funds outgoing chief executive Bruce McLachlan says this will result in immediate benefits to clients in terms of product innovation and improved client and adviser reporting.

“Our partnership with NZXWT will empower us to provide a more tailored investment experience for our clients and help them realise their savings and investment ambitions.”

“The new platform will allow us to offer blended investment strategies with a simplified structure and truly tailored investment strategies, taking individual preferences for risk, time horizon, goals, and other factors into account.”

“Transforming from a rigid legacy platform will also deliver operational efficiencies which will improve our clients’ experience which coupled together with an enhanced digital experience, will deliver more value to our clients.”

NZXWT Chief Executive Lisa Turnbull says that after a comprehensive evaluation process, NZXWT is excited to become Fisher Funds’ partner to provide innovation and vital services to support their growth.

“This partnership, rooted in a strong cultural alignment, has involved close collaboration between our teams throughout various workshops, deep dives, and project planning phases for the transition from old systems to new,” Ms Turnbull says.

“We had the capability to understand Fisher Funds’ business issues and frame a robust solution that is both innovative and practical, centred around Fisher Funds’ high standards of client service. The newly developed functionality will benefit Fisher Funds as well as our existing client base.”

NZXWT chief functional architect Martin Cantell, says blended investment strategies includes automated pre- and post-trade compliance, configurable reporting functionality with advanced look-throughs for underlying investments and benchmarks to help manage client exposures.

“At their fingertips, advisers can view the recording of special instructions and rules. They will be able to offer nimble and agile investment strategies with easy options to dial up and down between, for example, growth and balanced funds powered by automated downstream processes.

NZXWT’s open architecture extends to CRM connectivity and comes with both an adviser and investor portal.

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