Total Wealth's NZXWT onboarding story

Christchurch-based financial planning and wealth management firm Total Wealth has migrated its business, and associated custody services on to the NZXWT platform.

Monday, March 11th 2024, 7:43AM

Total Wealth director and financial adviser Katrina Studholme says the company prides itself on providing an outstanding investment experience and customer service to help families and individuals to advance their financial well-being and plan for their retirement.

“Being a small team, we rely on having access to industry leading technology and efficient outsourced wealth administration services that can deliver to our needs and those of our clients”, Studholme says.

NZXWT chief executive Lisa Turnbull says NZXWT is excited to become Total Wealth’s partner to power its advisory services with modern technology and wealth administration and custodial services.

“This onboarding success story showcases our team’s dedication to deliver exceptional outcomes for our clients while ensuring a smooth migration path”, Turnbull says.

Studholme says Total Wealth decided to transition to the NZXWT platform following a thorough market evaluation.

“From the outset, we were impressed by NZXWT’s engagement where they fully understood our business requirements, responded quickly, and provided a clear migration project plan.”

“Our service model relies on us having access to accurate data, sophisticated reporting capabilities and local support with fast response times. NZXWT offers smart technology that is easy to configure, giving us the ability to do things ourselves.”

Studholme said they felt a strong cultural fit and partnership with NZXWT.“The NZXWT team were professional, reliable, and easy to work with.”

The onboarding project was smooth. NZXWT provided a dedicated project team with fast turnarounds.

This enabled Total Wealth to stay focused on servicing their investors.

“We received daily updates and knew where everything was sitting, which gave us huge piece of mind”,
said Studholme.

Mark Oldridge, NZXWT’s head of implementation and support, referred to NZXWT’s strong onboarding
methodology framework as a key success factor.

“We have a tried and tested model that works yet is nimble enough to adapt to each client’s own business requirements, resource constraints and current technology set up”, Oldridge said.

NZXWT introduced a dedicated relationship manager early in the project. This ensured a seamless transition with support and training ahead of the go-live, followed by continuous relationship management services.

Total Wealth noted significant benefits from day one.

“Setting up a new client is so quick now," Studholme said. "We’ve moved from a manual process that could take three days previously, to an automated verification of accounts and downstream processes.”

“We no longer have to check and chase notifications. This frees up our time which can be diverted to grow our investors’ portfolios, while we have also removed the risk of human error through automation.”

Studholme said Total Wealth’s investors were quick to provide feedback of the improved experience from using the platform.

“The portal is user friendly. The management reports are configurable and display rich information while still being clear and simple. It’s helpful to have multiple currencies included in the reports upfront. It used to take a lot of manual efforts to understand the original values.”

“NZXWT’s client service levels and fast response times are a real game changer, 10 out of 10. We look forward to expanding the usage of the platform to fully leverage its modern capabilities.”

Tags: NZXWT