Financial Advice

Financial Advice

With its world-wide presence but locally trained advisers, deVere New Zealand, part of deVere Group, offers personalised financial advice to help clients add real value and achieve their financial goals and aspirations. We do this via our advice process which has been honed over many years and continents but also tailored specifically for New Zealand and is designed to meet your requirements.

In the advice process we will ensure that we:

•    Understand your requirements by asking quite specific and sometimes awkward questions with the sole intention to obtain your plans for the future.

•    We will conduct a risk-psychological profile to understand your reaction to risk and understanding of what risk means to you personally.

•    deVere New Zealand will research the best possible solution for your personal situation and then explain the recommendation to you in clear, easy to understand language to enable you as our trusted client to make an informed decision. The recommendation in our reasons why document will be in written form which enables you to take away and consider.

•    Once in agreement, we will agree the pathway to your financial future and will be regularly reviewing all objectives with you and your family.

•    Our financial advice covers all areas of personal financial planning including protection of your family or business, investment planning, retirement solutions and estate planning/wills and family trusts.    

 

Retirement Planning

deVere New Zealand Limited, part of the deVere Group, offers clients a variety of retirement planning solutions. It is vital to have a plan in place so that you know that you will enjoy a safe and secure retirement.

 

Superannuation

Superannuation is a tax effective way of saving for your retirement, however, this may be via your employer or via Kiwi Saver. You are free to deposit extra money into your superannuation should you wish to top it up at any time. The money put into your superannuation account is invested by the fund on your behalf, and is yours to use when you retire.

deVere New Zealand can advise you on the best way to build and make the most of your superannuation.

 

Kiwisaver

Your deVere New Zealand adviser can assist with choosing a suitable kiwisaver provider who all will be vetted by ourselves and offer a variety of funds to match different risk profiles and stages of your life.

 

UK Pension transfers

If you have worked in the UK and have a frozen UK pension either occupational or personal pension,  then you may wish to consider a transfer to an overseas scheme if you are retiring in New Zealand.  

 

QROPS

If you like more flexibility with your income payments and payments in a currency where you reside whilst also deciding the types of funds that fit your own risk profile you may wish to consider a QROPS.

 

What is a QROPS?

QROPS (Qualifying Recognised Overseas Pension Scheme) was established in the 2004 Finance Act in the UK. It enables those individuals who have left the UK or are planning to leave the UK to migrate their UK pension entitlements internationally to a HMRC authorised pension trustee in an authorised jurisdiction.

 

Why should I choose a QROPS?

QROPS give you more control over where your pension fund is invested, allows you to consolidate a number of pensions into one and allows you freedom of when to take income without the need to o buy an annuity.

Furthermore, the remaining fund is left to your beneficiaries without any deduction of UK tax upon death.

 

What is the process?

Initially with your authority we can trace all existing entitlements, establish up to date valuations and request a full schedule of benefits so we know exactly how your entitlements work. If you have a UK defined benefits pension we will work in conjunction with an FCA regulated pension transfer specialist and whilst taking into account your personal background and longer term aspirations, we can provide the necessary legal and regulatory oversight in New Zealand and the UK to enable you to make a prudent decision as to the right option in the future.

 

What are the key benefits of a QROPS through the deVere Group?

•    No need to buy an annuity    
•    Funds passed to beneficiaries in full after death: after completing 5 full tax years of non UK Tax    
      residency, your pension will no longer be liable to UK income tax or death charges of up to 45%   
•    Flexible choice of currency your pension can be paid in    
•    Up to 30% pension commencement lump sum    
•    Secure jurisdictions    
•    Investment flexibility    
•    Transparent charges    
•    Succession planning    
•    Pensions can be consolidated in to one    
•    Free from UK lump sum death benefit charge    
•    Mitigation of Lifetime Allowance

 

Please note: Any transfers to a New Zealand pension that has UK QROPS status after 9 March 2017 could be subject to a retrospective tax charge should you leave New Zealand and become resident in another jurisdiction within 5 years of the transfer. Professional advice should be sought.

Contact us for a free, no-obligation consultation with a deVere New Zealand adviser today.