Flint Wealth Review
Updated 9 August 2024
Flint Wealth has closed down.
This is from an email sent to investors on 16 July 2024:
"On July 8, Trustees Executors announced that Apex Group is set to acquire Trustees Executors’ Custody and Investment Accounting business. Please refer to the link for further details.
Flint Wealth therefore requests that by close of business on Friday July 25, 2024:
Flint Wealth has closed down.
This is from an email sent to investors on 16 July 2024:
"On July 8, Trustees Executors announced that Apex Group is set to acquire Trustees Executors’ Custody and Investment Accounting business. Please refer to the link for further details.
- As a result of this announcement, Trustees Executors has notified Flint Wealth, that it will no longer be able to support the services it currently provides, this includes custodial and registry services, beyond August 31, 2024.
- Flint Wealth has contacted several providers of similar custody and registry services. Unfortunately, all have advised that the critical services cannot be implemented within the required timeframe.
- Without the registry and custodial services provided by Trustees Executors, Flint Wealth is therefore forced to suspend its offering to New Zealand clients.
- Trustees Executors has also advised it is not able to in-specie transfer existing Flint Wealth investments to fund managers directly, or to another platform.
Flint Wealth therefore requests that by close of business on Friday July 25, 2024:
- Any investments you may have on the service be redeemed. This step may take 2-3 days to complete.
- All cash available in your wallet be withdrawn to your nominated bank account.
- After July 25, 2024 the Custodian, Trustees Executors Custodians Limited, will sell down investments on your behalf and return the proceeds to the bank account associated with your Flint account".