New clients demonstrate strong confidence in NZX wealth technologies

NZX Wealth Technologies celebrates strong growth with new client onboardings and expanding pipeline.

Monday, December 16th 2024, 9:20AM

NZX Wealth Technologies (NZXWT) is marking a successful year, highlighted by a significant influx of new clients and strong pipeline growth. The company began 2024 by completing successful onboarding projects for Fisher Funds and Strategic Financial Planning, with the latter involving API integration with OMNIMAX—an important factor in their decision to migrate to NZXWT.

Since then, NZXWT has welcomed five independent advice businesses to its platform and launched migration projects for four additional clients. The company has surpassed $16 billion in Funds Under Administration (FUA), signaling growing confidence in its ability to provide high-quality operational support, custody, reporting, and development services that address the operational, regulatory, and digital transformation needs of financial advisers and investment managers.

NZXWT CEO, Lisa Turnbull, attributes this success to the hard work of the team: "Our growth is a direct reflection of the dedication and expertise of our staff. We’re thrilled to welcome new clients to our platform and appreciate the positive feedback on our onboarding process. With a growing pipeline, we’re confident that NZXWT will continue to provide outstanding service and innovation to our expanding client base."

Expansion of Client Base Reflects Confidence in NZXWT’s Platform

In the latter half of 2024, NZXWT continued its growth with several new client onboardings, including Alvarium/Newton Ross, CP Wealth, and a Whakatane-based advisory firm. NZXWT also completed successful onboarding for DecisionMakers and Kingshield Investments, overseeing a full historical data migration from Apex, their previous platform provider. This seamless process further reinforces NZXWT’s strong reputation in the sector.

Colin Austin, Director of DecisionMakers, commented on the firm’s decision to partner with NZXWT: “We brought a number of unique challenges to the table, including multiple companies within one organization, 450 clients across two platforms, and over 25 years of historic data. NZXWT stood out for its flexibility and proven ability to implement tailored solutions. Migrating to their platform has enabled us to provide better client outcomes, which is our primary focus.”

Christchurch-based boutique firm Distinction Wealth has also partnered with NZXWT to support its expansion into the high-net-worth and private wealth sectors. David Lloyd, Director and Adviser at Distinction Wealth, said the firm chose NZXWT for its platform and custody services, in collaboration with Mapua Wealth for investment research and model portfolios.

These migrations are helping each business increase operational efficiency and enhance the client experience.

Future Growth on the Horizon

Looking ahead, Fortitude Financial in Christchurch is among the four businesses currently undergoing migration, with a planned launch in early 2025. Tim Gibb, Adviser and Director at Fortitude Financial, shared, “After an extensive review, NZXWT emerged as the best fit for our current and future business needs. Their innovation and partnership-driven approach align with our goals for growth and operational efficiency, enabling us to better serve our clients.”

Additionally, new clients in Auckland, Waikato, and Christchurch are migrating from various platforms following careful evaluations. With the client base steadily growing, NZXWT is experiencing significant momentum in the market and is poised for further success.

Lisa Turnbull concluded, “With a strong pipeline and more key signings expected in the coming months, we are forecasting continued growth into 2025. NZXWT’s New Zealand ownership, modern platform technology, and collaborative approach to software development and wealth administration are key drivers of why advice businesses are choosing to partner with us. We’re excited to continue building momentum and solidifying our position in the market.”

Tags: NZXWT