Do you, as an individual, family or business owner continue to harvest the rewards of the following financial habits?
Putting off buying adequate life and disability insurance
Don’t regularly update your will – if you even have one
Consume too much now and save too little for later
Focus on return of capital and not enough focus on return on capital
Sell after a slump and buy on a high
Neglect real costs and tax savings measures
Maintain lazy assets, with no focus
Chase performance or don’t even look at returns
Over-extend or over capitalise assets
Basically, procrastinate about planning your future and how to get there
These habits can work together to keep your financial security in the distance, but when you take control of these aspects, you can quickly go from strength to strength and start getting ahead. You only need to invest 60 minutes with an AFA adviser. There is a legal duty only for an AFA adviser to ‘Act in the best interest of the client', it’s called Best Interest Duty (BID). All other advisers do not currently have to act in the best interest of the client, including RFA advisers and QFE advisers.
To look up the type of adviser that you are getting advice from, go to the government website and search for their name: https://www.companiesoffice.govt.nz/fsp