Announcing the extension, FNZ said the agreement includes a program of platform upgrades to support Centric’s transition to FNZ’s latest global technology platform. The work will be delivered jointly by FNZ and Findex, Centric’s parent group.
Anthony Habis, FNZ’s group head of Asia Pacific, Middle East and Africa and group chief commercial officer, said the extended partnership reflects a shared approach to adviser-led wealth management.
“Our long-term partnership with Findex reflects our shared vision to make wealth management more accessible, transparent and personalised,” Habis stated.
According to FNZ, the modernisation program will draw on its end-to-end global platform technology, which the company says has been deployed across multiple international markets.
FNZ said the upgrade is intended to support greater scalability, provide access to global platform updates and deliver a more consistent platform experience for advisers and clients.
Habis elaborated that Australia remains a priority market for FNZ, with the Centric upgrade intended to equip advisers with improved technology to support client outcomes.
“Australia is a priority market for FNZ, and by bringing our proven global technology to the Centric platform we are equipping advisers with technology that enhances their ability to serve clients today and into the future,” he said.
FNZ and Centric said the platform changes are designed to strengthen digital-first capability and streamline operational workflows, while aligning platform functionality with evolving client expectations.
Under the renewed agreement, FNZ will continue to provide end-to-end services to Centric, including execution, clearing and settlement, platform technology, contact centre services, administration and custody. FNZ added that this service model is intended to deliver a single platform experience across superannuation, retirement and wealth.
FNZ also pointed to productivity and efficiency metrics from its global platform. The company said advisers using the platform have experienced a 90 per cent improvement in onboarding efficiency, with advisers able to be onboarded in 2.5 minutes, new investors in an average of 4.5 minutes, and personal details updated in as little as 30 seconds.
Centric head Martin Morris said the modernisation program was focused on improving the platform experience for advisers and clients.
“Centric is an adviser-led platform designed to put advisers and their clients at the centre of everything we do,” Morris said.
“This program of modernisation represents a decisive step forward, ensuring our advisers have access to improved technology, streamlined workflows and a resilient platform experience.”
He concluded: “Together with FNZ, we are strengthening our ability to deliver greater value, agility and innovation to clients across Australia.”
Hard to believe an Australian “financial adviser led” organisation would be extending a relationship with FNZ, after the monumental disaster CFS Edge has been for so many financial advisers. Or has the CFS Edge rollout been a failure due to poor CFS project management rather than the FNZ technology?