Select Wealth Management Partners With FNZ Platform And Is Poised For Growth

Select Wealth has partnered with the FNZ administration platform to support its wealth management service.

Previously the Select Service was only available on the MMC Wealth Administration platform.

Head of Select Wealth Debbie Tuddenham said their goal is to be platform agnostic.

“We know that for many reasons financial advisers can end up with client portfolios on multiple platforms so for us it made sense to partner with both administration platforms, meaning we can continue to provide the great service that we always have to more financial advisers, and more of their clients.

With Select Wealth taking care of the bulk of the portfolio administration, and regular client reporting, this allows our financial advisers to really focus on what’s important, which is their clients and their business”.

Since gaining a DIMS licence in 2015, Select Wealth has strived to provide financial advisers with a range of services to support their businesses and provide great outcomes for clients.

Tuddenham reflects on her 10-year journey with the business.

“It really has been an amazing journey, watching not only Select Wealth grow, but also seeing the way in which the financial advisers we work with have grown. In 2015, we offered five model portfolios and a range of approved assets for financial advisers to create their own custom-built portfolios. Since then, we’ve extended our range of portfolios to include a model portfolio investing in UK denominated assets for clients wanting to retain their UK pensions in pounds and three targeted Positive Impact Portfolios using a mix of fund managers with some of the highest ESG credentials in the market.

We’ve also partnered with Smartshares to launch the Select KiwiSaver Scheme which follows the same investment philosophy as our model portfolios and allows clients to achieve significant diversification with their retirement savings.

Select Wealth has been very focused on supporting financial advisers as we know the importance of everyday New Zealanders being able to access high quality advice”.

Tuddenham points to the wide range of studies which clearly show people receiving financial advice are likely to have better long-term financial outcomes than those not receiving advice.

“The best way we can make sure people have access to high quality advice is to make it easy for financial advisers to focus on what they do best; help their clients,” she said.

As well as offering an improved range of model portfolios, Select Wealth has extended its range of available investments, so financial advisers who want to create a bespoke portfolio for their clients have a range of options including a selection of managed funds supported by underlying research, a range of index ETFs, direct NZX and ASX stocks and a range of direct bonds and fixed interest options.

“As it’s our goal to make it easy to provide advice and manage client portfolios, we have developed a range of tools that allow financial advisers to understand a client’s risk profile, undertake a needs analysis and project a client’s future wealth, based on their individual position,” Tuddenham notes.

“This has also allowed us to direct all of the client’s information into an online application which can be used as part of the advice process or as a stand-alone application form, and can be electronically signed by the client, so it really is making the advice process streamlined and easy”.

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