Kernel Wealth
Kernel Wealth is a New Zealand digital wealth platform offering KiwiSaver, low-cost index funds, savings products, and US share/ETF trading to NZ residents. It serves 60,000+ investors with approximately NZ$4B in assets via a self-serve platform.
- Company typePrivate
- Founded2019
- HeadquartersAuckland, New Zealand
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Kernel Wealth does
Kernel Wealth Limited is a New Zealand digital wealth management platform founded in 2019 and headquartered in Auckland, serving New Zealand residents through a self-serve web and mobile interface. The company operates as a licensed fund manager regulated by the Financial Markets Authority (FMA) and serves 60,000+ investors with approximately NZ$3.5B-$4B in invested assets, providing KiwiSaver plans, low-cost index fund investing, tax-efficient savings products, and US share/ETF trading under a single sign-on platform.
The platform is built around a Portfolio Investment Entity (PIE) fund structure encompassing 27 index funds spanning NZ equities, global equities (including ESG-tilted and hedged variants), fixed income, property, infrastructure, and thematic strategies, with the recently launched Total World Fund tracking the FTSE Global All Cap Index via Vanguard's Total World Stock ETF. US market access is enabled through a partnership with Alpaca Securities LLC as broker-dealer and US custodian, while Adminis NZ Limited acts as custodian for NZ fund assets and Trustees Executors Limited serves as independent supervisor. The supporting technology stack includes Stripe for subscription billing, Intercom for customer support chat, and Google Analytics for web analytics, with no public API or mobile native application beyond the responsive web interface.
Kernel's revenue model combines (i) annual fund management fees of 0.25%-0.50% on funds under management, (ii) tiered subscription fees (Core free, Plus NZ$5/month or NZ$50/year, Premium NZ$15/month or NZ$150/year) that gate advanced features and lower FX fees, (iii) FX fees on US trades ranging from 1.50% to 0.40% by tier, and (iv) interest retained on wallet balances. Go-to-market is primarily product-led and digital, targeting individual investors through direct onboarding, while a financial adviser portal and a business channel (serving accountants, CFOs, and corporate partners including Consilium, Cambridge Partners, Oxygen Advisers, Lighthouse Financial, and My Food Bag) provide secondary distribution.
Kernel Wealth firmographics
Firmographics- Name
- Kernel Wealth
- Legal name
- Kernel Wealth Limited
- Website
- https://kernelwealth.co.nz
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Kernel Wealth is a New Zealand digital wealth platform offering KiwiSaver, low-cost index funds, savings products, and US share/ETF trading to NZ residents. It serves 60,000+ investors with approximately NZ$4B in assets via a self-serve platform.
- Ownership category
- akta.pro rank
Kernel Wealth industry classification
Industry- Product category
- Digital Wealth Management
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Goal-Based & Micro-Investing Platforms (Round-ups, Fractional) (FSAGAEAG)
Keywords
Where Kernel Wealth is headquartered
LocationHeadquarters
- HQ city
- Auckland
- HQ country
- New Zealand
- HQ region
- Oceania
Offices1 record
Markets served
Kernel Wealth business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Fund Management Fees: Kernel charges annual fund management fees ranging from 0.25% to 0.50% p.a. on funds under management. These fees are accrued within the unit price each valuation day and paid to Kernel.
- Platform Subscription Tiers: Kernel offers three subscription tiers: Core (free), Plus ($5/month or $50/year), and Premium ($15/month or $150/year). Higher tiers provide lower FX fees on US shares and ETFs.
- Foreign Exchange (FX) Fees: Fees charged when buying or selling US securities, calculated as a percentage of the order value. Rates vary by tier: Core 1.50%, Plus 0.60%, Premium 0.40%. Charged by Alpaca and passed to Kernel.
- Interest on Wallet Balances: Money deposited in wallets may accrue interest from bank accounts where Adminis NZ holds the money. Kernel retains that interest as a charge for services.
- Brokerage Fees on US Securities: Kernel charges $0 brokerage fee on US shares and ETFs, but charges FX fees on currency conversion through Alpaca.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Core tier for investors starting out with free access to KiwiSaver, Investing & Saving |
| Subscription | Annual | Plus tier for regular investors wanting access to full fund range and automation tools |
| Subscription | Annual | Premium tier for investors with larger portfolios seeking enhanced benefits and lowest FX rate |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels7 records
Kernel Wealth product offering
Product offeringCore offering
Kernel Wealth is a New Zealand-based digital investment platform that offers low-cost KiwiSaver plans, 27 index funds across global and local markets, US shares and ETFs trading, and tax-efficient savings accounts. The platform provides tax-efficient Portfolio Investment Entity (PIE) structured funds with fund management fees of 0.25-0.50% p.a., no minimum investment amounts, and tiered subscription plans (Core free, Plus NZ$5/month, Premium NZ$15/month). It also serves financial advisers and businesses through dedicated portals.
Product overview
Kernel Wealth is a New Zealand-based digital investment platform offering a comprehensive suite of financial products centered around three core offerings: the Kernel KiwiSaver Plan for retirement and first home savings, the Kernel Invest platform for general index fund investing, and US Shares & ETFs for direct access to American equity markets. The platform also provides savings products including Kernel Save (flexible savings) and Kernel PIE Save (tax-efficient savings). The product architecture is built around a tiered subscription model (Core, Plus, Premium) providing graduated access to features, with the Plus and Premium tiers unlocking the Total World Fund, PIE Save, and reduced FX fees for US trading. All funds are structured as Portfolio Investment Entities (PIEs) for tax efficiency, with 27 distinct index funds spanning global equities (including ESG-tilted options), NZ equities, fixed income, property, infrastructure, and thematic strategies. Account types include individual, joint, kids, trust, business, and advised accounts to serve various customer segments. The platform differentiates through low fees (starting at 0.12% p.a. for the Total World Fund), no minimum investment amounts, and full-digital onboarding and management.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- KiwiSaver fees are at least 39% lower than industry average based on Morningstar KiwiSaver Survey
- +5 more outcomes
Companies that use Kernel Wealth
Customer profileNamed customers4 records
Segments6 records
Ideal customer profiles3 records
Kernel Wealth technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature5 records
Kernel Wealth partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and minor.
- S&P Dow Jones IndicescoreKernel partners with S&P Dow Jones Indices as a leading index provider, using their indices for many Kernel funds including S&P 500, NZ 50 ESG Tilted, and Global ESG funds. Indices are provided by S&P Dow Jones Indices on Kernel's platform.
- VanguardcoreVanguard is an ETF provider whose products are available through Kernel's platform. The Total World Fund invests in Vanguard's Total World Stock ETF which tracks the FTSE Global All Cap Index. Vanguard has combined $5 trillion under management.
- Alpaca Securities LLCcoreAlpaca is Kernel's US broker-dealer partner enabling trading of US shares and ETFs. Alpaca executes orders, provides currency conversion, and acts as US custodian. Registered with FINRA and SEC, with SIPC protection and Excess SIPC Insurance coverage up to $30 million in securities.
- Adminis NZ LimitedcoreAdminis NZ Limited is Kernel's custodian for all fund assets (except US securities), money in wallets, and savings accounts. Based in Wellington, New Zealand, they are a PIE Investor Proxy and handle daily reconciliation.
- Trustees Executors LimitedcoreIndependent supervisor for Kernel's funds. Supervises the funds and ensures compliance with regulatory requirements. All fund assets are held by this independent custodian.
- ConsiliumminorFinancial advisory firm listed as a trusted partner of Kernel Wealth for business solutions. Located in New Zealand.
- Cambridge PartnersminorFinancial advisory firm listed as a trusted partner of Kernel Wealth for business solutions.
- Oxygen AdvisersminorFinancial advisory firm listed as a trusted partner of Kernel Wealth for business solutions.
- Lighthouse FinancialminorFinancial advisory firm listed as a trusted partner of Kernel Wealth for business solutions.
- My Food BagminorNew Zealand meal kit company listed as a trusted partner of Kernel Wealth for business solutions, likely using Kernel for corporate investments or employee benefits.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Kernel Wealth competitors and assessment
Company assessmentDirect peers
- Hatch: NZ investing app focused on US shares and ETFs, and KiwiSaver — built on the DriveWealth broker-dealer stack. Directly competes with Kernel's US Shares & ETFs offering and a portion of its KiwiSaver proposition.
- Simplicity: NZ-licensed KiwiSaver and investment fund manager competing head-to-head with Kernel on low-cost, passive index investing and self-directed KiwiSaver. Direct competitor for the same price-sensitive NZ investor base.
- Sharesies: NZ retail investment platform offering KiwiSaver, US shares and ETFs to Kiwi investors with a digital-first UX. Overlaps directly with Kernel on product surface (KiwiSaver + US shares/ETFs) and target mass-market KiwiSaver and retail investor segments.
- InvestNow: NZ low-cost investment platform offering access to a broad range of third-party KiwiSaver and managed funds with no transaction fees, directly competing with Kernel Invest for passive-investor wallet share.
- Booster: NZ KiwiSaver and investment scheme with a strong no-frills, low-to-mid-fee proposition that targets a similar price-sensitive audience. Direct competitor on KiwiSaver fund selection and digital onboarding.
Broad incumbents
- BNZ (KiwiSaver): Bank-owned KiwiSaver provider offering a full wealth and banking suite. Competes with Kernel in KiwiSaver at the mass-market level and benefits from deposit/cross-sell advantages Kernel lacks.
- ANZ (KiwiSaver): One of NZ's largest incumbent KiwiSaver providers with deep bank-channel distribution. While its offering spans the full wealth stack, its KiwiSaver fees and passive fund options place it in direct competition with Kernel for at-scale KiwiSaver assets.
- Vanguard: Global low-cost fund and ETF provider that is also a strategic partner (Kernel Total World Fund uses Vanguard's Total World Stock ETF). As an incumbent with its own investor channels, Vanguard represents both a powerful supplier and a potential competitor for direct-to-consumer flows.
Regional players
- Stake: Australian-listed US-shares trading platform with NZ customer base and similar PLG / digital-first positioning. Direct competitor for NZ retail customers trading US equities, with comparable fee structure.
- Selfwealth: Australian retail brokerage and managed-investment platform with similar low-cost positioning for self-directed investors. Comparable as a trans-Tasman competitor if Kernel expands into Australia.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Kernel Wealth social profiles
Digital presenceKernel Wealth compliance and trust
Trust signalCompliance4 records
Kernel Wealth financial estimates
Financial estimateRevenue estimate
Valuation estimate
Kernel Wealth leadership team
Management profileNumber of profiles
Profiles3 records
Kernel Wealth funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Kernel Wealth M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Kernel Wealth
What does Kernel Wealth do?
Kernel Wealth is a New Zealand-based digital investment platform that offers low-cost KiwiSaver plans, 27 index funds across global and local markets, US shares and ETFs trading, and tax-efficient savings accounts. The platform provides tax-efficient Portfolio Investment Entity (PIE) structured funds with fund management fees of 0.25-0.50% p.a., no minimum investment amounts, and tiered subscription plans (Core free, Plus NZ$5/month, Premium NZ$15/month). It also serves financial advisers and businesses through dedicated portals.
Is Kernel Wealth a public or private company?
Kernel Wealth is a private company. It is classified as venture growth investor backed and is currently operating.
When was Kernel Wealth founded?
Kernel Wealth was founded in 2019. It employs 11 to 50 people.
Where is Kernel Wealth based?
Kernel Wealth is headquartered in Auckland, New Zealand, in the Oceania region.
How does Kernel Wealth make money?
Five revenue lines are on record. Fund Management Fees are the primary driver. The others are platform Subscription Tiers, foreign Exchange (FX) Fees, interest on Wallet Balances and brokerage Fees on US Securities.
Who are Kernel Wealth's main competitors?
Direct peers on record are Hatch, Simplicity, Sharesies, InvestNow and Booster. Broad incumbents are BNZ (KiwiSaver), ANZ (KiwiSaver) and Vanguard. Regional players are Stake and Selfwealth.
Does Kernel Wealth have an API?
No public API is recorded for Kernel Wealth.
What industry is Kernel Wealth in?
Kernel Wealth's product category is Digital Wealth Management. Its primary akta.pro industry code is FSAGAEAG, Goal-Based & Micro-Investing Platforms (Round-ups, Fractional). Its NAICS code is 523940 and its SIC code is 6282.