Global wealth management platform FNZ has reached US$2 trillion in assets on its platform.
The firm now partners with over 650 financial institutions and more than 12,000 wealth management firms worldwide. In Australia, this includes Colonial First State, NAB, UBS Australia, and Vanguard.
It said recent growth has been underpinned by new client wins, expansion of mandates with existing customers, and organic market growth.
Earlier this month, it launched the Advisor AI, an artificial intelligence solution to help advisers work more efficiently and scale the delivery of personalised advice. Embedded directly into FNZ’s market-leading wealth platform, Advisor AI improves adviser productivity, enhances the client experience, and reduces administrative burden.
It said research has found 73 per cent of wealth management clients expect more personalised services from their adviser, and 70 per cent of advisers believe better technology will help them meet these expectations.
Detailing the launch, it said: “Advisor AI also automates the entire client meeting lifecycle. Advisers can now prepare for meetings using personalised insights, access relevant content during client meetings, and use Advisor AI to transcribe and analyse the discussions afterwards. The advanced solution will also highlight key points that require follow-up and guide advisers on the most relevant next conversations to have with each client.
“The time spent on repetitive administrative tasks is significantly reduced, freeing up advisers to spend more time with clients and focus on delivering high-quality, personalised advice.”
Full deployment of the tool is expected later this year.
Blythe Masters, group chief executive of FNZ, said: “Surpassing US$2 trillion in assets on platform is a powerful demonstration of the strength of our platform, the dedication of our people, and the deep, long-term partnerships we have with our clients.
“We are incredibly excited about the future, harnessing our scale, technology, and expertise to open up wealth and support our clients in delivering innovative, efficient, and personalised wealth management and market services to millions of end investors.”
Last month, the firm announced it had signed a five-year partnership with Microsoft to “transform wealth management” through technology and AI. This will combine FNZ’s wealth management expertise with the advanced AI capabilities and cloud infrastructure of Microsoft under Azure AI Foundry to bring new solutions to market, boost adviser productivity, and allow greater personalisation.
FNZ said it will develop new digital wealth solutions by embedding Foundry into FNZ’s global platform which will accelerate product innovation, enhance platform intelligence, and deliver secure, scalable services. Meanwhile, use of Copilot will support advisers’ middle and back-office processes and operational efficiency, and use of Fabric will strengthen its data and analytics capability.
