Wealth Administration

Investment administration, portfolio reporting and custodial services

Setting clients free to accelerate their success.

Accelerate our clients’ success

Whether a relationship manager or a banker in a large institution, or an independent financial adviser managing the investment portfolios of private individuals, families and trusts, MMC set our clients free to accelerate their success.

Designed and operated specifically for the New Zealand market, the MMC Wealth Administration service holds, administers and reports on a wide range of local and offshore investments.

We provide a consolidated view of investments and the convenience of having these investments managed in one place.

By delivering streamlined processes, bespoke solutions and the technical smarts to smoothly manage our clients’ investment engine room we remove the significant administrative burden associated with investing.

With continuous investment in our own New Zealand-designed, market-leading technology clients can be assured that the MMC Wealth Administration engine room is in good shape. And with a focus on new user-designed technologies, we’re working to create a more integrated, intuitive and accessible online experience for clients and their investors, supported by a responsive team who take our clients’ success very personally.

Our service offering includes:

  • Investment administration and portfolio reporting across more than 22,000 investor portfolios for more than 70 groups of investment professionals; and
  • Custodial services for over 2,000 assets.

Investment administration and portfolio reporting

Access to investments

MMC provide access to a wide range of local and offshore listed investments and managed funds, some of which are only available through an investment platform. The service administers and reports on assets including cash, fixed interest, equities, managed funds, specialty assets and currencies.

 

Investment administration

MMC carry out client instructions on investors’ portfolios to purchase, sell, transfer or otherwise dispose of investment assets. This includes collecting and distributing dividends and other distributions produced by investors’ investments.

 

Portfolio reporting

MMC monitor investor portfolios, recording all transactions that take place to provide a consolidated view of investments. MMC are the source of truth when it comes to portfolio reporting. Investors are provided with a comprehensive range of reports, via their financial advisor, including: portfolio valuation; portfolio performance (gross and net of tax); portfolio income; cash transactions; asset transactions; pending transactions; and taxation reporting.

 

Management reporting

MMC offer various management reports via our online system but can also provide bespoke reports that can be customised to suit differing requirements. Reports can be issued to a set schedule (e.g. daily, weekly or monthly) or run on an exception only basis.

 

Bulk trading functionality

MMC significantly reduce the administration time taken to calculate and initiate the sale and purchase of investments across a large group of investors at the same time.

 

Electronic trading

MMC prefer the use of electronic trading to reduce the time, risk and paperwork required when receiving investment instructions, and streamlines the instructing of brokers and fund managers.

 

Foreign Investment Fund (FIF) and PIE tax

MMC investor tax reporting includes Fair Dividend Rate (FDR) and Comparative Value (CV) methods for calculating FIF tax, saving investors’ time and money when it comes to completing tax returns. MMC are registered as a Portfolio Investor Proxy (PIP) meaning that PIE tax is calculated and paid by MMC on behalf of PIE fund managers.

 

Fulfilment services

MMC have functionality that will automatically generate investor confirmations in response to pre-defined portfolio events, reducing the administration associated with manually generating letters. With flexible delivery mechanisms, confirmations are automatically sent via email and can be generated for one or many investors at a time.

 

Web portals and APIs

MMC provide an adviser portal so clients can monitor and manage all their investors in one place and an investor portal so they can do the same.

These are in the process of being updated to include adviser dashboards, a new investor portal and onboarding and transactional APIs.

Custodial services

Investor assets are held in bare trust in the name of Investment Custodial Services Limited (ICSL). Assets are also recorded at share registries, unit registries or New Zealand bank accounts in the name of ICSL.

As this service aggregates the purchase and sale of investments on behalf of a large number of investors, and transacts this as a single instruction, it provides the added benefit of reducing brokerage fees. MMC also receives consolidated interest and dividend payments that it then allocates to individual investors’ portfolios.

For more information about our Wealth Administration services, please contact us at info@mmcnz.co.nz or call us on 09 309 8926