December 2023 - Bay of Plenty Business News
From mid-2016 Bay of Plenty businesses have a new voice, Bay of Plenty Business News. This publication reflects the region’s growth and importance as part of the wider central North Island economy.
From mid-2016 Bay of Plenty businesses have a new voice, Bay of Plenty Business News. This publication reflects the region’s growth and importance as part of the wider central North Island economy.
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<strong>December</strong> <strong>2023</strong> BAY OF PLENTY BUSINESS NEWS 19<br />
FINANCIAL SERVICES<br />
Thinking <strong>of</strong> seeing<br />
a financial advisor?<br />
Sarah Ashby and Simon Bradley, wealth management advisors at Jarden<br />
explain what to expect and what to ask when consulting a financial advisor.<br />
For many people, choosing<br />
to see a financial adviser<br />
is a big decision. Talking<br />
about money and finances can be<br />
a deeply personal topic and for<br />
some people, it isn’t something<br />
they’re used to being open about.<br />
As financial advisers, we get to<br />
meet with new clients for a range<br />
<strong>of</strong> reasons. It’s generally connected<br />
to a change <strong>of</strong> situation,<br />
and they need help with what<br />
to do next. Often this is positive,<br />
where people are taking the next<br />
step towards their future by selling<br />
a property or their business,<br />
or being proactive in planning for<br />
retirement or building a legacy<br />
for their family.<br />
On the other hand, sometimes<br />
the need to talk to an adviser can<br />
come from a place <strong>of</strong> sadness if a<br />
loved one has passed away and<br />
left provisions for you in their<br />
will.<br />
Whatever the case, we find<br />
the first meeting is an important<br />
one. Our approach is to spend<br />
time with new clients and do a<br />
lot <strong>of</strong> listening and asking questions.<br />
This way, we can get an<br />
understanding <strong>of</strong> their current<br />
circumstances, find out what they<br />
are looking for in an adviser and<br />
what their goals are.<br />
At this point, we will likely<br />
have a few different options that<br />
work for different scenarios and<br />
goals. At Jarden, we <strong>of</strong>fer the full<br />
range <strong>of</strong> services, from transactional<br />
advice only (e.g. share<br />
broking) to a full portfolio management<br />
services. We will recommend<br />
which service we think<br />
would be most appropriate and<br />
outline the applicable fees.<br />
If it is determined that a portfolio<br />
management service is appropriate,<br />
a big part <strong>of</strong> that meeting<br />
will involve talking about the<br />
client’s risk pr<strong>of</strong>ile, discussing<br />
both their tolerance and ability to<br />
accept risk in a portfolio.<br />
The risk assessment is vital for<br />
both the adviser and the client<br />
to understand levels <strong>of</strong> comfort<br />
(or discomfort) with movements<br />
in the share market – especially<br />
given the recent volatility. This<br />
can also be an interesting exercise<br />
for couples where they may<br />
both have different risk pr<strong>of</strong>iles,<br />
and we need to find a way<br />
forward.<br />
A financial adviser will make<br />
sure that someone with a conservative<br />
appetite doesn’t end up<br />
with a high-risk portfolio only to<br />
find they are concerned and cash<br />
up when the market goes down.<br />
The effect <strong>of</strong> cashing up when the<br />
market falters can result in locking<br />
in losses, so it’s important to<br />
always consider the client’s goals<br />
and reasons for investing in the<br />
first place. Our job as advisers is<br />
to help them stick to the agreed<br />
long term investment strategy,<br />
rather than reacting to short term<br />
market movements.<br />
We <strong>of</strong>ten have clients tell<br />
us how valuable it is to have a<br />
chance to have open, frank conversations<br />
about money and<br />
goals in a way that they don’t feel<br />
comfortable doing with family or<br />
friends.<br />
One option that usually holds<br />
a lot <strong>of</strong> appeal for our clients is<br />
our Discretionary Investment<br />
Management Service (DIMS),<br />
which is where we provide a<br />
diversified investment portfolio<br />
that is bespoke to the client. We<br />
take care <strong>of</strong> the initial portfolio<br />
set up and the ongoing investments<br />
decisions so that clients<br />
don’t need to do that themselves.<br />
For this service, after the<br />
initial meeting we prepare an<br />
investment proposal and present<br />
it to the client for review. In<br />
this, we play back to them what<br />
they’ve told us and recommend<br />
a way to invest in a portfolio that<br />
will fit with their risk pr<strong>of</strong>ile and<br />
help them achieve their investment<br />
goals. At this point, we talk<br />
more about the fees for their specific<br />
portfolio.<br />
Once the client has reviewed<br />
this and given us the green light,<br />
we proceed with creating the<br />
portfolio and taking care <strong>of</strong> it for<br />
them. We set up the portfolio,<br />
purchase all the assets, and create<br />
online access so the client can<br />
view their investment at any time.<br />
Many clients tell us they<br />
would find setting up a portfolio<br />
a daunting task and they’re<br />
delighted that we can do this<br />
for them quickly and easily. We<br />
take care <strong>of</strong> the portfolio over<br />
time – everything from making<br />
investment decisions and regular<br />
reporting – we even provide a tax<br />
report for you.<br />
It’s such a privilege for us to<br />
build long-term relationships<br />
with our clients and we love nothing<br />
more than seeing our clients<br />
achieve their goals.<br />
If seeking financial advice is<br />
on your to-do list, we hope sharing<br />
this process has helped demystify<br />
things and let you know<br />
what you should expect.<br />
Sarah Ashby 027 211 0760<br />
Simon Bradley 027 427 3899<br />
www.jarden.co.nz<br />
SARAH ASHBY,<br />
Wealth Management Advisor, Jarden<br />
SIMON BRADLEY,<br />
Wealth Management Advisor, Jarden<br />
Disclaimer: Sarah Ashby and Simon Bradley<br />
are Wealth Management Advisers at Jarden.<br />
The information and commentary in this<br />
article are provided for general information<br />
purposes only. It reflects views and research<br />
available at the time <strong>of</strong> publication, using<br />
external sources, systems and other data and<br />
information we believe to be accurate, complete<br />
and reliable at the time <strong>of</strong> preparation.<br />
We make no representation or warranty as to<br />
the accuracy, correctness and completeness<br />
<strong>of</strong> that information, and will not be liable or<br />
responsible for any error or omission. It is<br />
not to be relied upon as a basis for making<br />
any investment decision. Please seek specific<br />
investment advice before making any investment<br />
decision or taking any action. Jarden<br />
Securities Limited is an NZX Firm. A financial<br />
advice provider disclosure statement is<br />
available free <strong>of</strong> charge at www.jarden.co.nz/<br />
our-services/wealth-management/financial-advice-provider-disclosure-statement<br />
Strong investment decisions<br />
built on trust<br />
Our local wealth management experts Sarah and Simon, will work with you to guide you toward your<br />
long term financial goals.<br />
www.jarden.co.nz/wealth-management<br />
Jarden Securities Limited is an NZX Firm. Jarden Financial Advice Provider Disclosure statement is publicly available at<br />
www.Jarden.co.nz. Jarden is not a registered bank in New Zealand.