Consilium cracks milestone

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.