Most New Zealander’s spend more time planning their Christmas holidays than their financial lives. By taking a long term view most Kiwis can become financially independent, especially in their retirement years, if they have a clear and concise plan. It may require people not have instantaneous gratification by buying things when they want to, but instead planning ahead for it to happen. By constantly contributing towards a long term investment which allows for compounding interest over time – clients can reap the benefits.

Recently a young couple came to Money Planners looking to buy their first home but weren’t sure how. I coached them over a 12 month period where we worked together to create a deposit using savings, Kiwisaver and a contribution from family. This enabled them to buy their first home which they now share with two children and are looking to extend.

I’ve been in the industry since the 1980’s. I’ve experienced three financial crashes and I understand the need for patience and a balanced and unbiased view to assist clients to not become too anxious or panic and sell assets at the wrong time. As one of only 20 people in New Zealand with both CLU (Chartered Life Underwriter) and CFP (Certified Financial Planner) qualifications, and a MA in Business Administration, I have the foundation of knowledge to offer quality advice. I genuinely care about my clients, and maintain a close on-going relationship with them, regularly reviewing progress and working with them over time to ensure their goals can be met.

Many people go through life haphazardly making financial decisions without any structured framework from which to make those decisions. It’s hard to overestimate the value of having a structured financial plan designed to help you achieve your goals. A financial plan is like having a financial lodestar which drives your decisions around money, a reference point to track progress towards your goals.

Like any professional service, the benefits of Financial Advice are sometimes hard to quantify as each client’s needs are different. I think  the best summary of what we do as financial advisers can be found in an excellent article by Michael Kitces which talks about helping clients who are seeking ‘a better return on life’: (click here for original article):

Organization. A financial adviser will help bring order to your financial life, by assisting you in getting your financial house in order (at both the “macro” level of investments, insurance, estate, taxes, etc., and also the “micro” level of household cash flow).

Accountability. An adviser will help you follow through on financial commitments, by working with you to prioritize your goals, show you the steps you need to take, and regularly review your progress towards achieving them.

Objectivity. Financial Advisers bring insight from the outside to help you avoid emotionally driven decisions in important money matters, by being available to consult with you at key moments of decision-making, doing the research necessary to ensure you have all the information, and managing and disclosing any of our own potential conflicts of interest.

Proactivity. A financial Adviser will work with you to anticipate your life transitions and to be financially prepared for them, by regularly assessing any potential life transitions that might be coming, and creating the action plan necessary to address and manage them ahead of time.

Education. Your adviser will explore what specific knowledge will be needed to succeed in your situation, by first thoroughly understanding your situation, then providing the necessary resources to facilitate your decisions, and explaining the options and risks associated with each choice.

Partnership. A financial adviser can help you achieve the best life possible in concert with you, not just for you. To make this possible, by taking the time to clearly understand your background, philosophy, needs and objectives, work collaboratively with you and on your behalf (with your permission), and offer transparency around our own costs and compensation.