Fisher Funds has officially acquired Kiwi Wealth, becoming New Zealand’s largest specialist wealth management provider, with over half a million clients and more than $22 billion in funds under management. This includes over $13 billion in KiwiSaver funds under management.
Fisher Funds Chief Executive Officer, Bruce McLachlan, says, “This is a landmark day for Fisher Funds and Kiwi Wealth.
“It’s hugely exciting to bring together two of the best New Zealand investment firms into one market-leading wealth management business with majority Kiwi ownership and real scale.
“Both Fisher Funds and Kiwi Wealth are great New Zealand success stories and Kiwis will now be able to enjoy the benefits of our active Investment teams and award-winning client service teams joining together,” says McLachlan.
Fisher Funds is now focusing on integrating Kiwi Wealth into the business.
“Our priority is to work closely with Kiwi Wealth to ensure a seamless transition for all clients.
“We now begin to work through a transition period to identify opportunities to grow the value of the combined businesses for the benefit of our clients and their investments,” says McLachlan.
The completion also initiates Fisher Funds’ strategic partnership with Kiwibank. Fisher Funds is excited to be partnering with Kiwibank to continue to offer Kiwibank customers access to the Kiwi Wealth range of products and services including KiwiSaver and other wealth products.
“Like Fisher Funds, Kiwibank is a great Kiwi business focused on great outcomes for its customers and we are looking forward to continuing to deliver on that together,” says McLachlan.
Over the next few months, Fisher Funds will work alongside the Kiwi Wealth team to determine a plan to integrate the two business throughout 2023. In the meantime, it will be business as usual for both businesses.
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