Investment ahead for Aegis

Tom Reiher

The deal to purchase the administration and custody business from the bank settled last week. Aegis staff have moved from ASB to a separate office nearby and will move into a new floor of the building housing the MMC offices in March or April next year.

“We are excited to be able to extend our service offering, with the benefit of bringing on existing Aegis advisers, staff and resources to provide scale in private wealth … we are looking to improve the delivery of Aegis services by leveraging our technology and skills to upgrade the existing Aegis platform,” chief executive Tom Reiher said in a statement sent to advisers.

MMC has also recently taken a shareholding in Invsta, an Auckland-based wealth management fintech firm, which he said could create benefits for Aegis advisers.

"We have offered an investor portal to clients since June 2017 which provides our clients’ investors and their advisers with an innovative and intuitive investment reporting tool," Reiher said.