Large balances turbo charge KiwiWRAP to $100m

The transfer of large KiwiSaver balances into Consilium’s KiwiWRAP KiwiSaver Scheme has been a driver in reaching $100 million in funds under management. It marks more than 100 percent growth over the year, with forecasts indicating continued strong momentum.  

KiwiWRAP is proving attractive to investors that are seeking more choice in their KiwiSaver portfolio. Only available through accredited financial advisers, this advice-led scheme enables portfolios to be tailored to the personal needs of each investor. There are over 400 investment options to choose from, more than any other scheme.  

Consilium Managing Director, Scott Alman, attributes the scheme’s success to the fact that KiwiWRAP occupies a unique place in the market. 

“KiwiWRAP is not only experiencing rapid growth, but also opening a world of possibilities on how advisers engage with their clients. This indicates that higher-balance investors are increasingly seeking tailored advice on their KiwiSaver investments,” Alman said.  

“Over 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. KiwiWRAP’s average portfolio balance has increased from $150,000 to $177,000.” 

KiwiWRAP has also been finding favour with more advisers as they get to recommend and use their own portfolios - better equipping them to guide their clients towards their specific investment goals. 

“We’ve seen a real shift in mindset, where investors are beginning to take an active interest in their KiwiSaver balance,” Alman said. 

“As average KiwiSaver balances continue to grow, there is a tremendous opportunity for advisers to offer the benefits of tailoring KiwiSaver advice on a much broader scale. We are dedicated to the evolution of our products, and we welcome any potential advisers who want to work closely with clients who are committed to taking control of their retirement funds.” 

Check out the article on Good Returns