Wealthpoint eyes independent FAPs for 2026
It is now targeting independent financial advice providers struggling with compliance demands that are pulling principals away from client work
Monday, December 29th 2025, 8:59AM
by Ksenia Stepanova
Wealthpoint brought in 25-30 new advisers in 2025, wrapping up a three-year growth strategy. Its sights are now set on the next five years.
The adviser group, now six years old, is targeting independent advisers running their own financial advice providers who are finding compliance work is eating into client time. Head of strategy and growth Mark Nalder says he is hearing from principals who chose to self-license that they're questioning the decision, primarily because regulatory demands are pulling them away from clients.
"Adviser principals are saying that there's a lot of management time required to make sure they're keeping up to speed with regulatory changes. They have to have their monitoring systems running, they have to prepare FAP returns, etc," he says.
“With that in mind, a lot of the work that we’ve done has been around trying to connect with the independent adviser community, and trying to demonstrate how we can help them run strong and independent businesses.”
Growth still a priority, demographics shifting
Growth will remain as one of the key strategic pillars for the network over the next five years. That means expanding the member base, adviser numbers and various business lines across life, health, general and commercial insurance, plus mortgages, KiwiSaver and retail investment.
Wealthpoint has added new advisers through a mix of existing members recruiting into their businesses and new member firms joining.
Since launching in 2019, Wealthpoint has also made significant strides in changing its adviser makeup.
“When we first set up, we were similar to the rest of the market in that we had a reasonably aging adviser force,” Nalder says.
“We’ve made great strides in lowering the average age over the last five years, and also changing the demographic mix.”
“About a third of our advisers are women, which we think is much more reflective of who is looking for financial advice in New Zealand,” he explained. “We’ve also had a growing Asian and Indian adviser community, so overall it’s a much better mix than what we saw 5-6 years ago.”
Targeting the independent market
With its establishment phase behind it, Wealthpoint is now working to connect with independent advisers who are reconsidering their licensing arrangements.
The ability to help advisers transition into different advice areas under one FAP has also been a key selling point when recruiting. Nalder says this is one of the points of difference the network talks about with potential members, allowing advisers to expand their practices without the administrative burden.
Wealthpoint launched an outsourced virtual administration service and a cybersecurity controls service last year.
“All of these kinds of things work together to ensure that businesses and principals can operate with more confidence and focus on what they do best, which is time in front of clients,” Nalder says.
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