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Wednesday 20th of January 2021

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NZX/364314/336588.pdf

 

Wealth Technologies — outstanding 12 months
The Wealth Technologies division saw FUA reach NZ$7.2bn as of 31 December (vs a target of NZ$5–6bn for the year), driven by the
addition of JBWere, Hobson Wealth and Saturn Advisory to the platform during FY20. NZX is currently in talks with five prospective

clients, of which three it is confident on winning

outperform raise target price to $2.25

an adjustment to the JBWere FUM contract assumption to
NZ$18bn (previously was NZ$12bn) in the Wealth Technologies division,

NZX Wealth Technologies today announced that it has won a competitive tender run
by Public Trust – endorsing the feature-set and flexibility of NZXWT’s new multi-tenant platform.
Chief Executive Officer, Lisa Turnbull, says the retention of Public Trust’s business would see work begin
in the coming weeks on the migration from NZXWT’s legacy offering to the new platform.
“This is a real vote of confidence in our technology and service proposition and the focus we put on the
specific needs of each of our customers.”
The re-signing of Public Trust follows a competitive request for proposal (RFP), where Public Trust
assessed NZX Wealth Technology’s new platform and those of other providers against their needs.
Public Trust’s Head of Custody, Mark Lawrence says: “We went through a comprehensive process to
ensure that our platform provider can meet the needs of both Public Trust and our clients. We have real
confidence in the high level of service NZXWT’s new platform will provide and are delighted to be able to
retain the partnership with them”.
The successful tender with Public Trust follows the completion of the migration of Hobson Wealth and
Saturn Advice to the new platform in Q3 2020, joining Craigs Investment Partners and JBWere.
Funds Under Administration (FUA) was up more than 213% to $7.2 billion for the year ended 31
December 2020. NZXWT currently have more than 28,000 portfolios being managed through its wealth
management platform.
NZXWT is currently engaged with a number of new prospects for project activity, and expects to see
strong growth again in 2021.

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2 months ago Andy Phillipson
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