FNZ deepens FirstCape partnership with platform shift

FNZ and FirstCape have expanded their partnership in New Zealand, making FirstCape one of the first users of FNZ Select.

Under the agreement, FNZ will build, migrate and run a core platform for FirstCape's wealth and advice businesses in New Zealand, including JBWere New Zealand, Harbour Asset Management and Consilium.

The move extends a relationship first announced last year and gives FNZ a larger role in the systems that support FirstCape's wealth operations. It also links the broader partnership to the launch of FNZ Select, a service tier for a small group of strategic clients.

FirstCape said the platform will support its advice-led wealth management model across several brands. FNZ said the agreement is intended to create a longer-term foundation for closer integration across the group's businesses.

Platform shift

The agreement covers three main stages: building the platform, migrating existing operations to it and then running it on an ongoing basis. That puts FNZ at the centre of a significant technology and operations project for one of New Zealand's larger wealth groups.

For FirstCape, the arrangement spans advisory and asset management operations. JBWere New Zealand is its private wealth arm, while Harbour Asset Management and Consilium add investment management and advisory network exposure.

FNZ Select is being introduced alongside the expanded partnership. The companies said the model gives selected partners greater input into product development, additional support and faster access to platform updates.

The service also includes artificial intelligence functions as part of the platform offering. Financial terms were not disclosed.

Broader ties

The relationship between the two groups extends beyond the operating agreement. FirstCape also participated in FNZ's capital raising in November 2025, underscoring a broader commercial connection.

That shareholding adds another dimension as FNZ seeks to deepen ties with large wealth management clients. For FirstCape, it suggests the platform provider is part of its longer-term operating model.

Wealth managers have increasingly been consolidating technology platforms to reduce operational complexity and deliver a more consistent service across advice, administration and investment functions. In New Zealand, that trend has been driven by demand for better integrated systems as firms manage multiple brands or business lines under one parent group.

Projects of this kind can be significant because they involve both technology replacement and business migration. With multiple FirstCape businesses included, the work is likely to affect advisers, investment operations and client administration across the group.

Executive comments

Malcolm Jackson outlined FirstCape's rationale for the move.

"Our partnership with FNZ supports our approach to continuing to invest in capability and technology that helps advisers deliver high‐quality outcomes for clients across our businesses. It underpins our commitment to ensuring clients are at the centre of everything we do, as we continue to deliver high‐quality wealth and asset management solutions," said Malcolm Jackson, chief executive officer of FirstCape.

Roman Regelman said the agreement forms part of a broader effort to deepen the relationship.

"The expansion of our partnership with FirstCape reflects a continued focus on delivery and long‐term collaboration," said Roman Regelman, group president of FNZ.

He added: "Through FNZ's global wealth platform and a shared focus on technology-led innovation, we are supporting FirstCape in advancing a more integrated, client-first experience across its businesses. FNZ Select provides the platform capability, service model and innovation required to support growth, simplify operating models and operate at scale."