Consilium cracks milestone

Consilium’s KiwiWRAP KiwiSaver Scheme has cracked a milestone and has impressive client balances.

Monday, August 26th 2024, 8:41AM 1 Comment

Consilium’s KiwiWRAP KiwiSaver Scheme has cracked the $100 million in funds under management fuelled by transfers of large balances from other schemes.

KiwiWRAP’s average portfolio balance has increased from $150,000 to $177,000 in the past year.

“We have more than tripled the number of KiwiWRAP accounts with balances exceeding $500,000 and a number have surpassed the $1 million mark. This is a testament to the exceptional work of advisers and the returns investors are achieving,” Consilium managing director, Scott Alman says.

The scheme's total funds under management has doubled over the year with forecasts indicating continued strong momentum, he says.

KiwiWRAP is proving successful for investors that are seeking more choice in their KiwiSaver portfolio. The scheme is only available through accredited financial advisers, this advice-led scheme enables portfolios to be tailored to the personal needs of each investor.

Currently there are more than 400 investment options to choose from, which is more choice than than any other KiwiSaver scheme.

Alman says the scheme’s success is because it occupies a unique place in the market.

“Our KiwiWRAP Scheme is not only experiencing rapid growth, but also opening a world of possibilities on how advisers engage with their clients. This indicates that higher-balance investors are increasingly seeking tailored advice on their KiwiSaver investments,” Alman said.

Consilium’s KiwiWRAP has also been finding favour with more advisers as it gives them freedom to develop, recommend and use their own model portfolios - better equipping them to guide their clients towards their specific investment goals.

“We’ve seen a real shift in mindset, where investors are beginning to take an active interest in their KiwiSaver balance, and ensuring they get a good return,” Alman said.

“As average KiwiSaver balances continue to grow, there is a tremendous opportunity for advisers to offer the benefits of tailoring KiwiSaver advice on a much broader scale. We are dedicated to the evolution of our products, and we welcome any potential advisers who want to work closely with clients who are committed to taking control of their retirement funds.”

Tags: Consilium