NZX wrap platform looking to add four more firms

The wealth technologies business had $9.96 billion in funds under administration (FUA) at Dec 31 with revenue in calendar 2022 rising 36.3% to $6 million from 2021.

“Wealth Tech’’s pipeline prospects remain strong …. further FUA growth is underpinned by a large, contracted client that we are now onboarding in early May,” Peterson said.

The business also won three new medium-sized advisory clients in the first quarter which are scheduled to transition to the platform this year, he said.

Chair James Miller told the meeting the Smartshares passive index-tracking funds grew more than six-fold in the eight years he has been NZX chair.