Future-Proofing Wealth Management: An In-Depth Interview with FNZ’s Group President Roman Regelman

With a 21-year legacy that began in New Zealand, FNZ has grown apace to become a leading wealth management platform, empowering over 650 institutions globally and with nearly US$2 trillion in assets under administration. Roman discussed FNZ’s commitment to “opening up wealth” by creating an end-to-end wealth management platform that integrates modern technology, business and investment operations. All in a regulated financial institution. His conversation with Hubbis covered the evolving demands of the wealth management industry, FNZ’s dedication to fostering growth in Asia, the three core principles that guide FNZ’s roadmap and his insights into some of the key challenges and opportunities ahead. Roman’s vision paints a picture of an industry shaped by innovation, client-centric solutions, and a proactive response to market changes, especially in rapidly expanding and dynamic regions like Asia-Pacific.

Opening the discussion, Roman, who became Group President of FNZ in August this year, offered a brief overview of the company’s origins, mission, and comprehensive scope of its wealth management technology platform. Founded 21 years ago in New Zealand, FNZ initially served the local market before expanding into the UK, continental Europe, and later the Asia-Pacific region. FNZ’s core mission, Regelman explained, is to "open up wealth" by harnessing technology to create more affordable, personalized and accessible savings products for all.

He explained that the FNZ platform caters to various stakeholders within the financial services ecosystem, from advisors to end clients, working directly with financial institutions including banks and major wealth management and financial firms. FNZ delivers essential services to its business partners and customers that helps to enhance the efficiency of wealth advisors and streamline the client experience. According to Regelman, the scope of FNZ’s platform extends beyond advisor support to include integration with market-aligned infrastructure, such as stock exchanges and deposit institutions. This integration allows FNZ to offer a cohesive system where technology, operations, and workflows come together to form a comprehensive wealth management solution, supporting both advisors and clients in their investment journeys.

Targeting the Growth Facilitators

Roman highlighted how FNZ specifically targets wealth managers focused on client acquisition and asset gathering as their primary value proposition rather than institutions that aim to build a competitive edge through in-house technology and operations. “FNZ believes that excelling in technology and operations is fundamentally different from the wealth management business itself and that true competitive advantage for wealth managers lies in their ability to attract clients and grow assets,” he commented.

With a clientele of 650 institutions globally and nearly US$2 trillion in assets under administration, Roman believes FNZ stands out by offering a state-of-the-art technology platform that allows wealth managers to concentrate on their core strengths.

Asia Pacific’s Dynamism

He then explained that in the Asia-Pacific region, there are a number of particularly positive trends supporting the demand for FNZ's platform. He indicated that compared to its competitors, FNZ’s strength lies in its alignment with highly client-centric wealth management, offering unique flexibility and operational support without requiring wealth managers to take on the technical and operational burden directly.

He acknowledged that FNZ’s presence in Asia is still growing compared to its footprint in other regions, although he clarified that their experience across the broader APAC region offers some unique advantages. “Asia is one region but vast and full of different business cultures and societies,” he noted, emphasising that FNZ’s history and base in New Zealand and Australia give them a competitive edge in understanding the region’s nuanced markets. “Rather than remote outposts, FNZ’s regional knowledge and long presence provide history, proximity and key insights essential for success in these numerous and often diverse markets,” he observed.

Drilling Down into the Proposition in Asia

Roman then refined his perspectives by detailing FNZ’s distinct capabilities. He outlined FNZ’s three primary areas of service: technology, operations, and financial regulation-compliant activities. First, FNZ provides a technology backbone, enabling wealth managers to connect end clients, advisors, and counterparties seamlessly. Second, FNZ manages the operational workflows essential to wealth management, handling tasks such as account reconciliation, corporate actions, and statements. Third, FNZ covers essential financial functions, including custody and transfer agency services, thereby supporting transactions and client portfolios all within a regulated framework.

“FNZ provides the full house,” Roman clarified, “and this helps distinguish us from other providers who typically specialise in only one or two areas.” Software vendors, he noted, provide technology but lack operational capabilities; outsourcing firms may manage operations but don’t design tailored technology for wealth management, and traditional banks focus on financial services with limited operational and technological support. However, FNZ’s integrated platform serves as a one stop solution that meets all these needs.

Key Factors for Success in Asia

Discussing Asia’s appeal in more detail, Roman outlined three key factors driving FNZ’s commitment to expanding there. First, he highlighted the rapid accumulation of wealth: “Just come to Singapore once a year, and every time, you’ll see new buildings, new restaurants. The wealth accumulation is unmistakable.” This wealth growth presents a significant opportunity for FNZ as clients increasingly seek robust wealth management solutions.

Secondly, he highlighted the fundamental distinctions between North American and Asian wealth management clients, emphasising how these differences shape FNZ’s approach in each region. In North America, many institutions are over a century old, often with entrenched legacy core technology and systems that date back 30 to 40 years. These systems, though functional, pose challenges for banks in terms of modernisation, speed, and cost-efficiency. As he explained, “The biggest challenge for the typical North American bank would be to upgrade infrastructure, to be faster, to be cheaper, to be more agile.” For these institutions, agility extends beyond technology to encompass the broader need to meet client demands swiftly and effectively.

In contrast, Roman pointed out that most Asian banks have been in wealth management for only 5 to 10 years and operate on far newer systems, often no older than a decade or so. This difference enables Asian institutions to focus more on rapid growth rather than navigating the costly and complex process of legacy upgrades. “Asian banks’ primary challenge lies in asset accumulation and building client bases, often without the intergenerational advisory relationships seen in the West,” he explained. “A typical American client’s first advisor is their parents’ advisor. Here, quite often, the parents didn’t even have an advisor or maybe even a banking account.”

Thirdly, Roman underscored the distinctive profile of the Asian client base, which he described as younger, more digitally savvy, and more open to innovative service models. FNZ’s research shows that within APAC, 75% of investors expect providers to offer digital experiences on par with leading born-digital companies. And half say they would invest through big brand retailers or tech companies if given the opportunity (54%). All these factors—rapid wealth accumulation, minimal technological baggage, and a digitally oriented client base—make Asia an ideal environment for FNZ’s platform to flourish. “In a rapidly expanding market, it’s much easier to grow assets under management,” he concluded, underscoring how FNZ enables wealth managers to differentiate themselves through tailored client offerings.

A Deep Commitment to the Region

Further highlighting FNZ’s distinct regional strategy, Roman explained that FNZ has established a full-fledged business structure in APAC, centred in Singapore. Unlike firms that rely on temporary or remote staff, FNZ’s APAC head is based locally in Singapore, not as a transient executive but as someone deeply embedded in the region.

Further illustrating FNZ’s commitment, Roman detailed the company’s operations in Malaysia, a strategic base for regional growth. Initially established to support Australian work, FNZ’s Malaysian office has evolved into a development and delivery hub, underscoring the firm’s long-term investment in Asia. This presence allows FNZ to deliver effectively without depending on remote resources, positioning it to provide seamless service in key markets.

Roman clarified that FNZ’s commitment to Asia does not imply a presence in every country but rather a deep alignment with its core clients’ needs. By following key clients, such as abrdn, as they expand across Asia, FNZ can grow alongside them in a sustainable and strategic manner. This targeted approach enables FNZ to establish a meaningful foothold in the region, driven by client relationships rather than superficial market entry. As Roman put it, “The commitment to Asia is not a commitment to every single country but a commitment to our core clients.”

Roman concluded his insights into the firm’s presence in Asia by highlighting FNZ’s commitment to serving top-tier, Asia-based institutions rather than simply acting as an extension of American or European clients entering the region. "We have top-tier institutions here as clients. It might be the huge UOB, or Abrdn, or Singlife, amongst many others," he stated, underscoring FNZ's active partnerships with well-known, established brands in Asia. “This focus on prominent local clients enables FNZ to engage with clients as a comprehensive technology and services support team rather than merely as sales representatives.”

Key Priorities

In outlining FNZ’s key priorities for the next 18 months, Roman first acknowledged the entrepreneurial journey FNZ has taken over the past 21 years. Under founder Adrian Durham, FNZ has boldly expanded into new markets, establishing relationships with top-tier clients. However, Roman noted that while FNZ has excelled in its mission to “open up wealth” through its platform, it now requires a more scalable, repeatable operating model to sustain its growth and meet client expectations consistently.

The first priority Roman described is to “inspire trust” with clients, employees, and partners. He emphasised the importance of reliable and predictable delivery, as inconsistencies can erode trust across FNZ’s ecosystem. “Our clients rely on us as a platform,” he stated, stressing that the journey to implementing the platform must be smooth and dependable. FNZ aims to ensure that what it promises aligns with what it delivers, an approach that he says builds trust through consistency and accountability.

The second priority is sustainable growth. Roman explained that FNZ’s rapid expansion needs to be balanced with stability and careful planning. This means delivering on client commitments, supporting employees, and making well-thought-out decisions regarding FNZ’s operational footprint and partnerships. He highlighted that clients should feel confident FNZ can handle both current and new client demands without compromising service quality. In his words, “When you sign up a new client, they don’t worry that somehow they don’t get shelf space or that the new client will trump them.”

Roman highlighted the third priority as cultivating high-performing teams. While FNZ’s entrepreneurial spirit has fostered innovation and client-centricity, he noted that the company now needs a more disciplined, scalable operational mindset. This includes a strategic approach to regional responsibilities, such as clearly defining the types of work handled in Kuala Lumpur, India, or locally.

Roman articulated these three priorities—trust, sustainable growth, and high-performing teams—as especially relevant in Asia. In a region where cultures are often so diverse, where business and client relationships are tightly knit, trust is crucial, and any missteps can have lasting repercussions in the emerging, fast-growing ecosystem. Sustainable growth is essential to counter the perception of Asia as merely an outpost, and FNZ’s approach aims to make its operations in Asia a strong, consistent pillar of its global business.

Into the Future

Reflecting on the key challenges and opportunities in the decade ahead, Roman Regelman shared his vision for the evolution of wealth management, rooted in the integration of advanced technology, regulatory strength, and personalised client ecosystems. Ahead of FNZ’s participation in the Singapore FinTech Festival, Roman had polled his 36,000+ LinkedIn followers, asking what they thought would shape wealth management’s future. The responses highlighted artificial intelligence (AI) as the leading factor (50%), followed by customer experience, digital assets, and regulation. Roman acknowledged that while each of these elements is impactful, the true transformation will come from their interplay.

Roman anticipates a shift from traditional business models like B2B and B2C to a more customer-centric approach, which he calls “C2B,” or Customer-to-Business. In this model, each client becomes the centre of a personalised ecosystem, with wealth management services tailored specifically to their needs. He believes that with the growth of AI, this level of individualisation is achievable and will redefine wealth management by creating an environment where services are designed uniquely around each client’s circumstances, aspirations, and wealth journey.

He also addressed the debate on the future of banks versus fintechs, dismissing the notion that fintechs would replace traditional financial institutions. In his view, fintechs and banks will increasingly collaborate, with fintechs providing specialised services and technology to support regulated institutions. "There is no way any government in a stable country will allow unregulated entities to manage currencies or provide core financial services," he asserted, underlining the essential role of regulation in ensuring a secure and reliable financial ecosystem.

Ultimately, Roman envisions a wealth management future where excellence and scale coexist, with AI-driven customisation and high-quality expertise forming the backbone of client relationships. This future, he suggests, will blend advanced machine and human service in a way that not only meets regulatory standards but also enhances the personal nature of wealth management.

FNZ: In Tune with Market Evolution

Roman’s detailed articulation during the interview of the FNZ journey and the evolution of its markets underscores how he foresees a transformative future for wealth management driven by technology, personalised client ecosystems, and robust regulatory frameworks and how FNZ is ready, willing and fully able to adapt. As FNZ deepens its presence in Asia, Roman’s articulation of the FNZ approach—focusing on trust, sustainable growth, and high-performing teams tailored to local markets—is positioning the firm as a forward-thinking partner for wealth managers navigating a digitally transformative and exciting future, particularly in Asia’s dynamic economies and markets.