Welcome to our quarterly newsletter.
For those of you that don’t know us, we are a Financial Planning business and we provide clients with a range of services which help them meet their financial goals.
We have offices in Palmerston North, Masterton and Hawkes Bay. We currently visit our Wanganui clients in their homes.
We are pleased to advise we have new premises for Masterton and you can locate us on 25 Queen Street on Tuesday’s from 9am to 4pm.
Our advisers based in Palmerston North and servicing the Manawatu, Wairarapa and Wanganui are David Petre and Ken Martin.
Our adviser based in Hastings and servicing the Hawkes Bay is Murray Ward.
- Investment Planning ● Financial Advice
- ·Estate Planning ● Wills
- ·Family Trusts ● Enduring Powers of Attorney
- ·Direct Investments ● A Second Opinion
Amanda and Stephanie are completing the tax returns this year. We ask that you gather up your tax papers and donation receipts and get them into us as soon as possible.
As tax agents with IRD, we have to meet targets in filing returns. We have consistently achieved the 100% target and therefore retained our agency and time extensions.
This is a service that we provide at a very reasonable cost to the client and we are asking that all clients have their information to us by the 30th September this year. Don’t hesitate to contact us if you have any queries.
The 2011 Budget saw some changes to the Kiwisaver scheme, which included a 50% drop to the tax credit, the minimum contribution rise to 3% and the employer’s contribution will be taxed.
We still believe that even with the above changes Kiwisaver is an option that New Zealanders should seriously consider as a savings avenue.
NZ Funds Kiwisaver
In October 2010 NZ Funds launched their Kiwisaver product. Three years late? Not at all. They wanted to see how much of a take up there would be and how they might present an option that would be beneficial to their clients.
To date some 1.7 million New Zealanders have joined Kiwisaver. Of which some 50% have taken the default option i.e. they have signed up without knowing or understanding where their funds are being invested. Furthermore their on-going support is minimal.
The Goal Based Advice that we use with our platform has been extended to the Kiwisaver product. We provide a short form plan; the funds are applied to investments which are compatible with the client’s goals and time frame. The funds are protected by the Armor system that NZ Funds has developed. Each year the funds automatically rebalance according to the clients circumstances and we provide regular reporting of the funds progress.
Why is rebalancing each year so important? We want to position the portfolio so that it is available to the client as they reach the retirement age, currently 65 years, in a manner which is not going to be at the mercy of the type of financial collapse we saw in 2008. While other providers offer rebalancing in five year bands, NZ Funds believe it more prudent to rebalance annually.
As with our platform the Kiwisaver funds are managed by a variety of managers both within New Zealand and internationally.
When meeting with clients or prospective clients we have provided them with a Disclosure Document. While we have always endeavoured to give this upfront, it is now a statutory requirement that disclosure is made before any financial advice is given. We are currently updating our documents and each adviser will have their own individual disclosure document. We will be providing this document to you and asking that you acknowledge receipt.
Client Agreement and Scope of Service:
We are also updating our Client Agreements, which are now between the client and Nuview Limited as the adviser. This is being progressively done as we meet with you. You will also obtain a Scope of Service document which details the level of service the client expects us to provide them.