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Consilium (KiwiWRAP) KiwiSaver Review (2026)
KiwiWRAP is an advice-led KiwiSaver wrap platform from Consilium NZ, giving investors access to 400+ shares, funds and ETFs via an accredited adviser.
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Brent Coleman
What is KiwiWRAP?
KiwiWRAP is the KiwiSaver scheme run by Consilium NZ Limited. A standard KiwiSaver scheme gives you a fixed menu of the provider's own funds. KiwiWRAP is an advice-led "wrap platform": you work with an accredited financial adviser to build your own diversified portfolio from more than 400 investment options.
What can you invest in?
The options include direct shares, such as Apple, Amazon, Tesla, Microsoft, Netflix, Salesforce, Johnson & Johnson and Berkshire Hathaway. They also include managed funds and ETFs from a wide range of managers, including Vanguard, iShares, Russell Investments, Antipodes, Magellan, Dimensional, Devon Funds, Harbour, Salt, Hunter Investment, Daintree Capital and Evidential.
The pitch is diversification across many fund managers instead of one provider's own range, plus transparency. You can see your individual holdings, your transactions and the fees charged on them.
How it works
KiwiWRAP is not a do-it-yourself scheme. You need an accredited financial adviser to set up and manage your portfolio. You can track your holdings on desktop and mobile.
Fees
You pay three layers of fees: Consilium's annual scheme fee, the fee on each investment you hold, and your adviser's fee.
| Charge | Fee |
|---|---|
| Annual scheme fee (covers manager, custodian and supervisor) | 0.29% p.a. excl. GST on invested assets |
| Annual scheme fee on cash held in the cash management account | 0.00% |
| Each investment's own fee | Varies by fund or ETF, across 400+ options |
| Adviser fee | Agreed between you and your adviser |
Member balances
KiwiWRAP says it has the highest average member balance of any KiwiSaver scheme, "nearly double any other", based on a balance comparison by actuaries MJW.
The bottom line
KiwiWRAP suits investors who want an adviser-built portfolio of direct shares and funds from many different managers, and not a fixed menu of in-house funds. You have to go through an accredited adviser, and your total cost depends on what you invest in and what your adviser charges, so ask them for the full cost breakdown before you join.