FNZ seeks to transform wealth management with 5-year Microsoft deal
FNZ has signed a five-year partnership with Microsoft to “transform wealth management” through technology and artificial intelligence (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.
It said: “This collaboration with Microsoft accelerates this transformation by helping FNZ bring new solutions to market faster, enhance client outcomes, boost adviser productivity, and drive innovation across industry.
“The goal is to drive value for financial institutions and their clients by enhancing operational efficiency, accelerating innovation, and increasing speed to market.”
FNZ is used by financial services firms such as Colonial First State, Centrepoint Alliance, Vanguard, and UBS Australia. Last year, Centrepoint Alliance used FNZ’s technology to launch its own superannuation and investment platform called IconiQ which allows its advisers to manage their clients’ investments and gain access to global investment managers.
Roman Regelman, group president at FNZ, said: “FNZ has always been at the forefront of innovation in wealth-management technology. Partnering with Microsoft allows us to accelerate our AI-led roadmap and enhances our ability to deliver personalised, intelligent and resilient solutions to our clients, strengthening our position of leadership.
“Together, we are not just upgrading technology. We are setting a new standard for how wealth management is delivered. Partnering with Microsoft further advances our mission to open up wealth, by making investing more accessible to more people worldwide.”
Earlier this year, the firm appointed Anthony Habis as its group head of Asia-Pacific where he will lead the firm’s strategy in the region, enhance client partnerships, and ensure the delivery of market-leading wealth management solutions to financial institutions across APAC.
He previously worked at global alternative asset manager MA Financial Group, where he spent two years as the managing director at Moelis Australia, MA Financial’s corporate advisory and equities division.
Recommended for you
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
With many advisers preparing to retire or sell up, business advisory firm Business Health believes advisers need to take a proactive approach to informing their clients of succession plans.
Retirement commentators have flagged that almost a third of Australians over 50 are unprepared for the longevity of retirement and are falling behind APAC peers in their preparations and advice engagement.
As private markets continue to garner investor interest, Netwealth’s series of private market reports have revealed how much advisers and wealth managers are allocating, as well as a growing attraction to evergreen funds.
