FirstCape to acquire Consilium

FirstCape and Consilium NZ are pleased to announce that they have entered into an agreement for FirstCape to acquire all shares in Consilium.

Consilium delivers a range of solutions to financial services firms including Consilium Wrap, Synergy DIMS, the KiwiWRAP KiwiSaver Scheme, the Evidential KiwiSaver Scheme, and Evidential Investment Funds. Consilium will remain its own brand within the FirstCape Group to ensure continuity for Consilium’s existing clients.

Malcolm Jackson, FirstCape CEO says he is excited to welcome Consilium to the FirstCape family.

"This acquisition aligns with our strategic vision and strengthens our commitment to providing comprehensive wealth and asset management solutions for our clients. Both Consilium and FirstCape are focused on improving access to financial advice and growing KiwiSaver which were key drivers for the acquisition.

“Consilium is a leading supporter of independent advice and financial services firms in New Zealand, and as the complexities of the financial services sector continue to grow, the acquisition will ensure Consilium is well-placed to grow and expand the services which it currently delivers to both new and existing clients.” he says.

The acquisition means the FirstCape group will offer two KiwiSaver schemes in addition to the BNZ KiwiSaver scheme.

“We are looking forward to providing more New Zealanders with access to high-quality retirement savings options and continuing to grow our presence in the KiwiSaver market,” Jackson says.

Scott Alman, Consilium Founder and Managing Director says there are natural synergies between the two organisations and emphasised the importance of quality client experiences in the business case for the deal.

“Consilium has been growing strongly over the past 13 years, continuously offering new and improved products and services for our clients,” he says.

Louisa Yandle has been appointed to the role of Chief Executive at Consilium as part of a planned leadership succession. Scott Alman will remain with the business ensuring continued strategic oversight and support through his new role as Executive Director.

“It gives me great pleasure to congratulate Louisa on her appointment as CEO of Consilium. Louisa has been an integral part of Consilium’s growth over the last five years. Under Louisa’s leadership, and with the backing and support of the FirstCape group, we are confident Consilium will continue its impressive growth trajectory,” Alman says.

Completion of the acquisition is subject to various conditions.