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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.

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