NZX's wrap platform tops $7 billion

Hobson has nearly doubled the size of the platform adding another $3 billion to the business.

NZXWT chief executive Lisa Turnbull, says the addition of Hobson Wealth is a significant milestone which also administers funds for JB Were and Saturn Advice and Craigs Investment Partners.

Funds Under Administration (FUA) is up more than 200% to $6.95 billion for the year to 30 November 2020, with NZXWT currently having more than 28,000 portfolios being managed through its wealth management platform.

Hobson Wealth chief operating officer, Anna Scott, says they have developed an excellent working partnership with NZXWT in developing Hobson’s own in-house custodial service.