FNZ launches premium Select service for wealth clients

FNZ has launched FNZ Select, a new premium service for clients.

The offering sits alongside FNZ Core within a tiered structure for the wealth management technology group's client base.

FNZ Select gives clients priority access to the product roadmap, additional platform support and built-in AI tools. Select clients will also have more influence over platform changes and benefit from a revised operating model intended to shorten delivery times.

The business, founded in New Zealand and with major operations in Australia, said it has strengthened its global service model and platform over the past two years. Those changes, it said, have lifted the baseline service level available to its broader client base.

Tiered model

The launch creates a clearer divide between premium and standard service options. Clients that do not adopt Select will remain on FNZ Core, which will continue to offer the platform and service model used by many financial institutions, with scope to tailor product and service options.

FNZ said the revised framework is designed to give clients more choice over pricing and product mix while bringing its commercial agreements more closely into line with wider market practice.

Roman Regelman, Group President at FNZ, said: "FNZ Select is a premium service that sets our clients up for long-term success. It harmonises and aligns our value proposition with market practices and offers exceptional value to clients. This tiered structure will strengthen our relationships globally and give clients greater clarity and choice."

Select is also aimed at strategically important clients that want earlier input into FNZ's roadmap, allowing them to shape parts of the group's future proposition at an earlier stage.

Client response

Two existing clients backed the launch in statements issued alongside the announcement. Quilter and Colonial First State both pointed to the importance of service delivery and strategic alignment in their relationships with FNZ.

Steven Levin, Chief Executive Officer of Quilter, said: "We welcome FNZ's continued investment in service and delivery, and the planned approach will provide greater client clarity and flexibility. Our relationship with FNZ is successful and longstanding, and we look forward to continuing our strong strategic partnership with FNZ."

"Our strategic partnership with FNZ is critical to our growth and success, and that of our advisers and clients. We welcome the launch of FNZ Select as a way to deliver premium service for strategically important clients, and we look forward to continuing to work closely together with FN," Clive van Horen, Chief Executive Officer of Colonial First State, said.

The move comes as wealth management technology suppliers face pressure from institutional clients for clearer service levels, faster product changes and more direct input into development priorities. In that context, FNZ's decision to separate its offer into Select and Core suggests a more formal approach to segmenting clients by service model and commercial terms.

FNZ did not disclose pricing or how many clients are expected to move to the new proposition. It said only that the launch forms part of its global approach to partnering with clients and that Core will remain available for institutions that do not adopt the Select model.