Diane from Northland recently celebrated a 30-year partnership with her Financial Advisers. We asked her, with the benefit of hindsight, where had she found the most value? AdviceFirst’s Sue Richards has been her Adviser for 21 of those years.
Asked why she sought expert financial advice in the beginning Diane says “Thirty years ago my accountant and financial Adviser suggested I began investing differently. There were funds in different places and the aim was to have them all working together for me. Of course, it’s not my area, I’m a farmer…so I’m happy to let you look after my finances while I watch it (investments) grow”.
“My situation has benefitted considerably because of the advice I have received… and I really appreciate the meetings I have with my Adviser. My questions are always answered. She makes everything clear for me. She will put me straight and I leave every meeting knowing what has happened and why”.
“Most important for me was that I needed to trust the person I was going to work with. Relationships are vitally important. So is a good plan”.
“I was always asked about what my goals were, and of course my goals have changed over time. Being clear about my goals was so important. For me my goals were to be in the best position possible to run the farm, to educate the children – I set up an education trust, to travel and to prepare well for my retirement years”.
“I have two children and my husband died when the children were 8 and 11. When the children were little we needed different things than later. He left me with life insurance and I am very grateful for that.”
“There have been bumps along the way. A week or two after I changed my investments – there was the big crash. I knew my investments would go up and down over time, I had been prepared so I understood why as they had made it clear to me. I had a friend with money invested with the same firm and they pulled out which I thought was foolish. I stayed with you and of course it came right”.
Diane says over the years a lot has changed but that personal relationships have always been important. “After my husband died and the first time I went to the bank manager, he asked me if I would like to bring in my farm manager…he had trouble talking to me. I have never forgotten that moment. I said no, it’s all right, because I had met with my Adviser, I had gone over my finances so I knew what I needed and I knew where everything was. I need to trust the person giving me advice”.
Diane says now that she is older her goals have changed again. “I’m in my 70’s my health isn’t what it was. My situation doesn’t worry me. Most of all I really am full of gratitude for the Advisers who looked after me over the years. Whatever happens next, I know that the work has been done to make sure my investments meet my goals now, now when I really need that security. The plans are all there and in place to help me”.