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Last Article Uploaded: Wednesday, December 12th, 4:39PM
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Consilium reports super-charged growth

Adviser back-office support firm Consilium is reporting growth of 38 per cent per year.

Thursday, December 28th 2017, 6:00AM 1 Comment

The firm offers custody and administration services, with technology suitable for independent advisers.

Since August 2011 Consilium has grown from $344 million in assets under administration to $2.4 billion  today. It now deals with 83 adviser firms.

“We’re really here for the professional adviser who has a big problem. They want independence, so they can advocate their clients first and foremost. But being independent, they don’t have scale to work on compliance, negotiate costs and reduce or eliminate the tasks that aren’t their specific value add. So we do that for them. In return we give them the gift of time to enhance relationships with clients, prospects and centres of influence and they grow as a result. It’s that simple,” said managing director Scott Alman.

Consilium offers a custodial platform, which is the biggest piece of technology it deals with in New Zealand. "We needed to get it right for independents and the only way to do that was to do it ourselves. We couldn’t rely on the bank to do what’s right for independent advisers," Alman said.

It also offers DIMS model portfolios via Synergy.

“They are actively managed for the most part but at passive costs. They’ve performed better than more expensive alternatives since they launched. Most advisers like the idea of getting more for less,” Vivecca Robiunson, a BDM for Consilium and Synergy, said.

It also offers Partner Services, which fives them goals-based advice processes, templates, client communications, business consulting and investment research,

Rhodes Donald, of Polson Higgs Wealth Management in Dunedin has more than $100m with Consilium and said it made sense.

“People like me who have had 20 or 30 years in the business, we’ve started to learn what our strengths and weaknesses are. And our weaknesses are generally in the back-office areas of compliance, systems, IT, processes, internet, professional development, research, portfolio design, monitoring..."

Tags: Consilium DIMS financial advisers Synergy technology

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Comments from our readers

On 29 December 2017 at 7:37 pm John Milner said:
You’re doing great work Scott and the team at Consilium. They solve two business problems; scale and capacity. As a sole practitioner these days (my choice) I offer a very competitive and compelling investment solution for my clients, while not having to sell my soul to the big end of town.

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