Become Wealth Surpasses $1 Billion in Funds Under Advice

Auckland, 15 January 2025

Become Wealth Limited (“Become Wealth”) today announced it has surpassed $1 billion in funds under advice. The announcement comes on the back of strong growth over recent years.

According to Become Wealth’s CEO, Joseph Darby, “We’re delighted to hit this milestone, though we’re happiest for our clients. Reaching $1 billion in total funds under advice (FUA) shows our clients are getting wealthier and displays their faith to invest based on our expertise and input.

Moving forward, we expect our team, with their passion for delivering client outcomes with a great client experience, to be central to our success as we continue our national expansion.”

In addition to DIMS FUM exceeding $100 million, a substantial portion of the FUA is comprised of the New Zealand Defence Force (NZDF) Savings Schemes. Become Wealth is the financial advice and education services provider to members of these schemes. The overall package of financial benefits for NZDF members is called the Force Financial Hub.

Darby went on to say “We’ve been on a journey with the NZDF, the NZDF Savings Schemes, and other components of the Force Financial Hub for some time. So, we’re immensely grateful to NZDF decisionmakers, members, and the other product and service providers of the Force Financial Hub. Special mention must be made of the NZDF Relationship Manager, Mr Mark Williamson, who’s dedication over the years has been beyond compare.”

This latest milestone for Become Wealth should ensure clients can continue to receive the highest standard of services and access to the best quality financial solutions in the marketplace.

“Looking ahead, Become Wealth has more than a few exciting opportunities on the horizon, too, so the $1 billion milestone represents just another step, rather than an end destination. As one example, we’ve invested a lot in our team, who seem younger than most in the investment industry. This means we can help clients for many years with a low likelihood of advisers retiring before clients’ financial journeys have run their course. Another area of opportunity is our ability to deploy financial advice services-at-scale to homogenous groups such as large workplaces, which we believe is unequalled in the New Zealand marketplace.” Darby said.

Become Wealth is also well-positioned for merger and acquisition activity, as regulatory pressure pushes some from the industry, and leads others to look for increased scale. “Regulation and technological changes mean it’s not getting any easier to operate in the NZ financial services space, and our phonelines are open for ethical self-employed advisers who might be looking to exit the industry on good terms by selling their books to someone they know will take care of their clients. Plus, there might be an opportunity for those experienced advisers who might want to fold into a larger organisation so they can focus on advising clients and have someone else handle corporate and back-office functions.” he said.

About Become Wealth

Become Wealth aims to help people become wealthy, or keep them that way, by bringing together a diversified array of services including investment management, mortgage broking, financial planning, personal insurance and property advice. Become Wealth is a multi-generational, multi-service firm.

From humble beginnings over 10 years ago, the firm now has Auckland and Christchurch offices, and staff in three countries to serve Kiwi’s up and down New Zealand. Typical clients include rapid accumulators, and those who are transitioning to retirement.

Become Wealth holds licences as a financial advice provider (FAP), and a discretionary investment management service (DIMS). Become Wealth is 100% New Zealand-owned, and unlike many nationwide FAPs, has no product provider control or ownership.

Become Wealth have been formally contracted by major NZX- and ASX-listed companies to assist their staff with individual financial choices, as well as ongoing financial and financial education services to members of the NZDF, and direct-to-the wider New Zealand public.