Interactive dashboarding
Portfolios each have an interactive dashboard surfacing key metrics, saving time from searching through multiple screens.
Global access.
Wholesale cost.
Flexible architecture.
We’re about increased efficiency, offering access to institutional investments and keeping fees low.
Consilium Wrap enables advisers to efficiently build and manage customised investment portfolios for their clients. Investments are registered in the name of the custodian, FNZ Custodians Limited, but the investor always remains the beneficial owner.
All interactions between Wrap and investment management companies or trading exchanges are centralised and processed by the custodian, FNZ Custodians Limited. This reduces costs, the benefit of which flows back to investors in the form of lower fees.
The technological innovation and security of Consilium Wrap levels the playing field for advisers and their clients, by providing access to world leading technology and custodial services provided by FNZ.
Elegantly simple
portfolio management
By wrapping your client's investments together on one technologically-advanced platform, you'll benefit from having a consolidated picture in one place. Your client’s current holdings can be easily compared with their target asset allocation, and they can hold multiple accounts under the one name. Rebalancing is simplified. Trades are pooled to minimise costs. Consilium Wrap also offers a multi term deposit facility across several providers.
Not only has Consilium Wrap been built with exceptional technical features, but we have a commitment to ongoing improvement. We provide faster, more efficient transacting and reduced paperwork.
Leveraging global expertise for local success
Consilium’s Managing Director, Scott Alman and FNZ New Zealand’s CEO, Jeremy Graham, discuss how FNZ New Zealand plans to connect local businesses with the global FNZ product set, leveraging the research, development, and innovation happening in the global wealth management space.
Consilium Wrap ESG Profiler
A sophisticated ESG tool designed exclusively for financial advisers and the first of its kind in New Zealand — giving you the ability to view and offer investors personalised ESG insights into their portfolios.
With its intuitive interface, you can easily evaluate a client’s holdings against six distinct ESG preferences and the MSCI All Country World Index. Preference categories include human rights, corporate governance and water usage. Additional filters can be applied to view issues such as controversial weapons. The tool also provides benchmark comparisons to the MSCI All Country World Index, enabling you to deliver useful insights to your investors.
The ESG Profiler utilises data from reputable sources such as MSCI, Morningstar and other leading ESG providers to enable look-through into fund and portfolio top holdings.
This tool is enabled by Consilium Wrap being connected to the global FNZ wealth management platform.
Key Features
Online risk profiling
Clients can complete a simple risk assessment through Consilium Wrap with adviser assistance. The resulting risk profile can be overridden by the adviser and a rationale entered.
Flexible Architecture
A flexible client focused architecture allows for multiple portfolios under one name with different fee arrangements for each. Performance and valuation reporting can be run collectively or individually.
Online access at any time
Consilium Wrap gives advisers and investors 24/7 access to up to date information. Regular adviser reports keep investors up to date and dramatically cut the need for paper copies and filing.
It was important to choose the best long-term partner for us and for our clients. Consilium has invested in platform technology that is responsive and uses global custodial technology provider, FNZ Limited, who has the scale to set us up for the future. Most of all, our advisers particularly appreciate the time and effort the Consilium team put into helping our firm grow, which is of course beneficial to our clients.
The Consilium team assisted with all aspects of transferring the FUM across, including help with client correspondence, processing of the transfer, and assistance with an overlapping project to ensure our fee structure was more appropriately benchmarked to market. The transfer was easier than anticipated, and if we had known it would be this simple, we probably would have transferred much sooner.
Joseph Darby, Become Wealth
Frequently asked questions
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What investments can be held?
Consilium Wrap imposes no restrictions on investments as long as they can be administered by FNZ. FNZ already provides access to approximately 7,000 different investments. It is usually straightforward to transfer existing assets on to Consilium Wrap.
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How are transaction instructions given?
The financial adviser will provide transaction instructions through Consilium Wrap to the custodian and administrator. The investor and the financial adviser will agree on a method by which transactions are authorised.
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What reports are received?
- Annual tax report from FNZ
- Six monthly custodian report directly from FNZ, detailing transactions and valuations, as required by New Zealand law
- Any additional reporting will be agreed between the investor and the financial adviser.
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Is there an administration fee on the cash management account?
No
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Which entity physically holds the investments?
FNZ Custodians Limited holds cash and assets as trustee of a bare trust. The custodian has no authority to transact on behalf of the investor without first receiving an instruction from the investor, through the financial adviser. The financial adviser is responsible for entering valid instructions.
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Is there a minimum cash balance required for the cash management account?
A cash balance must be maintained in the cash management account to pay portfolio fees and expenses, etc. The financial adviser will assist the investor to determine an appropriate amount.
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Is interest paid on the balance in the cash management account?
Interest may be paid on some currencies (including NZD) in the cash management account. Interest, where applicable, is paid monthly.
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Who pays the investor’s tax?
Some taxes are paid on the investor’s behalf and others are not. Resident and non-resident withholding tax will be deducted from interest and dividends received. For certain overseas investments, subject to the foreign investment fund rules, tax is not withheld and is calculated in the investor’s end of year tax report, to assist in completing the tax return. For portfolio investment entities (PIEs), tax is calculated and paid on the investor’s behalf at their nominated prescribed investor rate (PIR). Most PIE funds offer the choice of using cash or selling fund units to pay this tax.
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What identification documents do investors need to provide?
The financial adviser will be able to explain exactly what documents are required. When investing through an entity such as a trust, additional documentation will be required.
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Where do dividends (or other income) from investments go?
FNZ receives all income from investments (eg, dividend payments) and credits it to the cash management account. Some investments allow income to be received in the form of new investment units rather than cash. In these instances, the new units will be added to the portfolio holdings and any tax payable deducted in cash from the cash management account.
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How does the investor withdraw funds?
The financial adviser creates an instruction to withdraw funds to the investor’s nominated bank account. The investor may have up to four different nominated bank accounts, subject to certain conditions.
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How does the investor close their portfolio?
The financial adviser will guide the investor through the closure process, which may involve selling or transferring assets and withdrawing cash. This process is relatively simple.