By Amanda Cleaver

Financial Adviser 

With financial scams on the increase, it can be difficult deciding who to trust with your money. It’s a big decision picking an investment partner, especially considering the wide range of investment companies and services available. One of the most common things I hear is how much our clients value being able to meet face-to-face with a real person based in Wānaka. With an office in Wānaka since 2016, Milford prides itself on our commitment to our clients and to the Wānaka community. 

Here are a few steps you can take to form a sound investment partnership.

Set your goals

Before deciding who to invest with, it’s worth identifying your investment goals. What are you trying to achieve with your money?

Two common goals are:

• I’m still working but I want to understand how much I need to save for my retirement
• I’m retired and I want to draw an income to cover my expenses 

But there are a range of other goals you could also have. For instance, you may want to set up an education fund for your children or perhaps you’ve come into some money and you simply have no idea I how to best invest it. 

The key is taking the time you need to consider and identify your goals, being as specific as possible.

Consider the options

Next, get an understanding of the different types of companies you could work with and if they have the products and services you need to help you reach your individual goals.

Begin by doing a little research. Here are a few questions to ask about the investment companies you are considering:

How have their investments performed over the long term?

• Are their fees transparent?
• Do the staff invest their own money in the same funds as you?
• Do they offer financial advice?
• Can you view your investment details at any time?
• Do they clearly explain their investment decisions?
• How often will they contact you?

Different people like to interact in different ways and on different schedules, so these questions can help you assess whether the relationship would work for you. This step is all about understanding your options and finding a partner who is a good fit.

Check in

Once you’ve identified your goals and found the partner you believe will help you get there, you can start investing. But try to avoid falling into a ‘set and forget’ mindset. We suggest a ‘set and review’ mindset instead. You don’t need to monitor your investments constantly but it’s worth a regular check-in. You should definitely review your investments when your life circumstances change.

This will help ensure your investments are still aligned to your goals. It’s also a chance to assess whether your investment partner is doing a good job. If they’re not, you can always go back to step two and reconsider your options.

Peace of mind

Although it can be challenging, finding the right investment partner can be very rewarding – financially and by providing peace of mind. That, in turn, can give you time to focus on other things that really matter in your life. Use these three tips as a guide and, before you know it, you’ll be well on your way to achieving your financial goals.

If you’re not currently a client of Milford’s and you are struggling with any of these steps, we have a team of financial advisers based in Wānaka who would be happy to meet with you, in person, free of charge.

If you would like to talk with any of Milford’s Wanaka-based Wealth Management team, please feel free to get in touch on 03 443 4695. Financial Adviser Disclosure Statements are available on request free of charge. 

Disclaimer: Past performance is not a reliable indicator of future performance. Milford Funds Limited is the issuer of the Milford KiwiSaver Plan and Milford Investment Funds. Please read the relevant Milford Product Disclosure Statement at milfordasset.com. Before investing you may wish to seek financial advice. For more information on our financial advice services please visit milfordasset.com/getting-advice

Level 1/19 Sir Tim Wallis Drive, Wānaka 

Tel: 03 443 4695