What is a Financial Adviser and why should I use one?

A lot of Kiwis would like to get some good financial advice, but don’t know where to start, or what to look for.

In a nutshell, a Financial Adviser is one point of contact, who knows all the financial stuff, inside and out.

They’re independent, registered, and work with lots of Insurance Companies, Lawyers, Accountants etc to make sure your ducks are in a row.

Your Adviser is like your own personal ‘fixer’. If something changes in your life (like a new job, new kids or buying a house, they’ll help you sort your Insurances, KiwiSaver, Mortgage, Legal Documentation etc so it continues to meet your needs through life.

One of the most important things your Financial Adviser can do, is go to bat for you if you need to make an Insurance claim. They deal directly with the Insurance Company to make sure they pay out.

There’s only a few thousand Independent Financial Advisers in New Zealand, and they’re busy as bees working to looking after their clients. We can tell you wholeheartedly, our Advisers at Solutions (our sister company), are fiercely passionate about helping Kiwis succeed in life financially.

Some Financial Advisers will charge you a fee for their work (mainly in the investment space), while many others offer their services free of charge (they are usually paid a fee directly by the financial institutions, such as the Insurance Company or KiwiSaver provider, to look after you).

They say there’s no time like the present, and Covid-19 has certainly shaken us all this year. This has highlighted the need for Kiwis to have good financial resilience for when the unexpected happens – This is exactly what Financial Advisers are there to help you with.

“New Zealanders who get financial advice on average have KiwiSaver balances over 50% bigger than those who don’t; are more likely to have insurance cover; and have greater peace of mind and confidence in making financial decisions.” - Money & You NZ

We deal with people from all walks of life – Trades people, Small business owners, Medical Professionals, Farmers, Teachers, CEO’s and Directors – The list goes on. It doesn’t matter who you are, what you do, or how much you earn, you can always benefit from having a good Financial Adviser look after you.

Get in touch, and we can have a quick chat about how we can help you.

Meet Kev.

Meet Kev. Lead adviser at Ducks in a Row.

If you’re new to Ducks in a Row, and aren’t sure what we do, have a read of this.

Kevin’s job is to help people get themselves, and their businesses, to a better place financially. This includes top-notch advice around budgeting, borrowing, insurance, KiwiSaver, and more.

When he’s not working with his own clients directly, Kev steps into his role as CEO of a nation-wide group of advisers. Essentially, he advises other advisers, on how to give their clients the best-damned advice they can give.

Kev is the lead adviser here at Ducks in a Row, and we’re lucky to have him. We managed to pin him down for a minute, to ask him a few questions that we’ve had through the grapevine.

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Say we want to really get it together in 2019. Where should we start?

• Get an up to date Will – It’s estimated that 50% of Kiwis don’t have one, but it’s one of those documents everyone has to pull out sooner or later. Make it easy for those you care about. More on that here.

• Start saving first, spending second – Most people spend spend spend, and try and save after. This method is deeply flawed. If you set an (achievable) goal of, say, $25 per week, and put that away first, you have the freedom of spending the rest, while quietly building a nest egg.

• Figure out where your KiwiSaver money is, and make sure it’s the right place. So many New Zealanders don’t know which company is looking after their KiwiSaver money, let alone what kind of fund it’s in. Considering this is the ticket to many people’s first home, and/or their retirement plan, it deserves a lot more attention than most people give. More on that here.

What are some easy mistakes that can be avoided?

• Borrowing money the wrong way – people often use credit cards and pay high interest rates, when interest rates on mortgages are a quarter of the price.

• Putting things on hire purchase (or lay-buy) that you simply don’t need.

• Replacing/ upgrading something for no real reason (ie your phone or car)

• Making risky investment decisions (shares, KiwiSaver, business ventures).

How can you start savings when you don’t have much money left at the end of the week?

I know you hear it all the time - But making a budget is the best way to figure out exactly where the money is going. Obviously, there are things you can’t cut, like rent, fuel, food, but if you do it accurately you will see how much is being spent on funding your lifestyle – Nights out, unused subscriptions, new clothes and more. Once you’ve identified these you can start cutting what you don’t truly need. Look at how much is left over, and set up an automatic payment to put a feasible amount (eg $50 per week) into savings for future wealth creation.

When’s a good time to get Insurance?

Get it before you need it. We can’t predict what happens in our lives. It’s about asking quality questions to make sure you can survive financial hardship in unforeseen circumstances;

• If your car got stolen and it’s under finance, what are the implications? You don’t have a car anymore, but you still owe money on it.

• If you get sick and can’t work, your income will simply stop. How will you pay your bills? ACC won’t help unless it’s an injury.

• If you’ve got a mortgage with your partner and they’re killed in a car accident tomorrow, can you afford to keep paying it off?

• An effective insurance strategy can make sure you’re covered for all of this. More on that here.

Why should I get financial advice?

The same reason a professional golfer still has a coach – To help improve weaknesses they’re not aware of. An adviser will open your eyes on the areas that are important to you. Financial literacy is not something we’re taught at school, it’s something we’re expected to learn along the way. Having a coach to guide you helps get you to where you’re trying to be a lot easier. Not to mention, it’s free.



If you’d like to have a chat to Kevin, or one of our other advisers, just click below to get your Ducks in a Row.

What is a Financial Adviser? And why is their help free?

Many New Zealanders don’t really know what a financial adviser does, or how to make the most of their advice.

In a nutshell – A financial adviser is one point of contact, who knows all this financial stuff, inside and out.

They’re independent, registered, and work with lots of lawyers, accountants, KiwiSaver providers and Insurance companies to make sure your ducks are in a row.

Your adviser is like your own personal ‘fixer’. If something changes in your life (like new kids, new job or a new house), they’ll help you adjust your Will, KiwiSaver and Insurance so it continues to meet your needs. But most importantly, if you need to make an insurance claim, your adviser will go to bat for you, and deal directly with the insurance company to make sure they pay out.

Who are Ducks in a Row’s advisers? Why use them over other Advisers?

Our team is pretty much the ducks nuts when it comes to financial advisers. We only work with a small group, handpicked based on their experience, honesty and success in the industry (and they’ve got hundreds of their own clients who vouch for them too). 

Not only will they get your ducks in a row, but our advisers will:

• Liaise with a lawyer to help create your Will.

• Help you create a unique KiwiSaver strategy tailored to fit your situation.

• Help you get the right insurance cover, at the best price.

Why is their help free?

You don’t pay a cent for your adviser’s help - they get paid a fee by the insurance company or the KiwiSaver provider for setting it all up (this is known as commission). This stuff will cost the same regardless of whether you use an adviser, so it’s a bit of a no-brainer.

Our advisers will never recommend you spend money when it’s not in your best interest. As we said, they’re good sorts. Not to mention, the law prevents them from putting their own interests ahead of yours.