Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Sargon secures three new NZ clients

9 September 2019

Financial technology and infrastructure company, Sargon, has secured three new clients in New Zealand – Christian Savings Limited, Kōura Wealth Limited and Kernel Wealth Limited.

Sargon provides trustee and supervisory services in New Zealand to KiwiSaver clients and the broader funds management industry through its FMA-licensed subsidiary, Heritage Trustee Company Limited.

Founded in 1962, Christian Savings is New Zealand’s only charitable non-bank deposit taker and currently manages over $180m, with $129m in loans to churches and charities around the country.

Kōura Wealth is a newly-launched KiwiSaver provider. Kernel also recently launched, entering the market with a managed investment scheme.

Sargon Chief Executive Officer, Phillip Kingston, was pleased to announce the appointments and welcomed its new clients’ choice of Sargon as their supervisor.

“We’re delighted to be partnering with Christian Savings, Kōura and Kernel to create great financial outcomes for Kiwis,” Kingston said.

“By drawing from the deep local knowledge and expertise from our established team in New Zealand and combining it with our technology and financial services experience from across the region, we’ve transformed the old supervisor model.

“We believe we can help providers of financial services, including KiwiSaver schemes, run more efficiently, and provide them with supervisory and trustee services that have been specifically developed for the modern era of oversight and supervision.

“With the Sargon Trustee Cloud platform, we are able to lower costs, reduce systemic risk and improve compliance outcomes, with a laser focus on building better financial products for Kiwis.”

Sargon’s new clients highlighted its team, culture, innovation and technology as some of the key reasons for choosing Sargon as their supervisor.

Christian Savings Chief Executive Officer, James Palmer said, “Christian Savings’ management team and board undertook a thorough due diligence process reviewing licensed supervisors over a seven-month period. We wanted a supervisor that was focused on putting our depositors first and had the team, culture and technology to deliver the best for Christian Savings and our depositors, both now, and into the future.”

Kōura Founder, Rupert Carlyon explained, “We chose Sargon because of the quality of the people that they had in their supervisory teams. The Sargon team understand the potential power of technology to help investors and managers make better decisions allowing everyday Kiwis to have better retirements.”

Kernel Chief Executive Officer, Dean Anderson said, “As a business built on digital efficiency and innovation, we are proud to be partnering with a company that places value on this, in its supervisory services. Sargon’s focus on technology will result in better outcomes for our customers.”

Sargon is the largest issuer (supervisor) of Australian Prudential Regulation Authority (APRA) regulated superannuation funds in Australia, issuing 22 of 133 funds.

As the expectations of the Financial Markets Authority (FMA) grow, Sargon is well-placed to help its clients respond to pressure for greater regulatory reporting, while delivering more for their clients at lower costs.

“The regulatory environment is only becoming more complex. Financial services providers, including KiwiSaver providers, need a partner who can help them navigate the growing regulatory complexity and expectations of the FMA and retail investors,” Kingston continued.

“We supervise our clients in a way that minimises the work for them when they engage with us, while also enhancing the value proposition of their core business. It’s a relationship that goes beyond compliance processes and just keeping people out of trouble.

“Returning to first principles, Sargon has reimagined the role of the KiwiSaver supervisor and trustee for today’s rapidly evolving regulatory and investment management environment to serve investors’ best interests, which helps to ensure our clients do the same.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Reserve Bank: Official Cash Rate Unchanged At 1 Percent

The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment remains around its maximum sustainable level while inflation remains below the 2 percent target mid-point but within our target range... More>>


Food Prices: Avocados At Lowest Price In Almost Three Years

Avocados are at their cheapest average price since February 2017, with tomato, lettuce, and cucumber prices also falling, Stats NZ said today. More>>

Auckland Port Move: Cabinet Ministers Deliberate On Report

Cabinet ministers now have a copy of a report urging the government to move the Auckland port up north, but say no final decisions have been made. More>>


Toxicology Tests Planned: Dead Rats Washed Up On Beaches

As many as 600 rats washed up on Westport's North Beach over the weekend to the horror of locals. DOC said they may have been killed by a recent 1080 poison drop 140km away and washed down the Buller River after heavy rain battered the coast. More>>