We are a specialised team serving the investment and insurance needs of health professionals since 2001.
MFAS provides specialised financial advice (investment, insurance and mortgage finance) to health professionals across New Zealand.
Over the years we have come to understand well the unique challenges you face, and top of this list is likely to be that you are time poor. We use illustrative software to very quickly highlight your current position, your desired future position and the choices that you can make to help you achieve your objectives. This software underpins a logical and methodical approach that is replicable, time effective and proven over time.
We know one size does not fit all so we tailor strategies to your specific goals to ensure they will work for you in a simple but effective manner. Our team include specialists in investment, insurance and mortgage finance, so we deliver a holistic approach achieving optimum efficiency for you.
For those of you who are retired or close to retirement, it is essential that your investment strategy provides you with certainty regarding the level of income your accrued capital can provide, for the duration of your retirement years.
On the otherhand, if you've recently graduated and are now keen to get yourself sorted then you're in a fantastic position to make the years ahead work for you, as we can show you how doing a small amount over a long period of time makes achieving your goals much easier. Whether you plan to specialise, do a fellowship overseas or want to buy your own practice down the track, we can build all of these scenarios into your long-term plan.
Hard lessons through the decade 2001 to 2020 (including the tech failure and global financial crisis) have led to the development of our robust and reliable goals-based solutions, now well tested over time. We stand beside you and provide regular reports and updates as we measure and monitor your position to ensure you remain on track. We also help you make required adjustments through your life’s stages and the inevitable curve balls we all face from time to time.
Our partner relationship with the NZMA provides strong benefits to NZMA members, so don’t forget to mention if you are a member.
We would love to have a chat so please contact us here.
MFAS advisers are Authorised Financial Advisers (AFA), and members of Financial Advice NZ. Hamish and Sue have also attained the highest financial planning qualification available and recognised internationally as Certified Financial Planners (CFPcm).
MFAS partner with New Zealand Medical Association (NZMA) and support Women in Health Network (WiHN).
We understand that serving your community as a healthcare professional is a vocation rather than an occupation and like many of your colleagues you may plan to work, on either a full or part-time basis, beyond standard retirment age. Or you may choose to retire early and follow a whole new pathway. Regardless, it is critical to build sufficient wealth over your practicing years to provide for your future when work income ceases.
We will assist you in clarifying what is important to you, help you define your financial objectives and then develop a personalised strategy to achieve your wealth accumulation target based on your objectives.
There is no doubt that your objectives will change over time as your circumstances evolve and as such your strategy will be a living document tailored for you with flexibility and liquidity as key compnoents. Progress is regularly measured and reported to ensure your targets are being met. No surprises!
Congratulations for those that have accumulated wealth for retirement…..you have travelled half your journey and the return trip now begins!
The change of focus from accumulating wealth to preserving and spending it through what may be a 25-30 year retirement period is a challenge. We provide you peace of mind by illustrating how long your funds will last at your chosen level of spending. You will have confidence to take that overseas trip, provide support to children or make extra donations to favourite charities, in full knowledge of how these actions affect your financial longevity. Your investment strategy is structured so funds can be drawn with confidence throughout any investment market situation.
Protecting the downside is a key component of retirement investment.
There is nothing “romantic” about insurance. However, as a hard working health professional your ability to earn an income is highly likely to be your most important asset. The consequences of a disability or extended illness that prevents you working could be devastating to the financial security of your family…...and your financial plan. Building a risk protection plan in conjunction with your savings plan allows you to be confident that your family can continue to function while you recover. Your protection plan will provide cover that is necessary, be effective and at the best price possible.
The amount you are likely to accumulate within KiwiSaver over your working life is substantial, and engaging with specialist advice is critical to ensure you maximise this opportunity. As there are many options available, it is essential you understand your KiwiSaver investment strategy and how this will contribute to your retirement objectives. We make sure you are with a scheme that will work for you and measure progress with you on a regular basis.
As custodians of our environment your KiwiSaver should have a strong Socially Responsible mandate.
Any workplace scheme where your employer contributes funds to your retirement position provides an advantage that needs to be maximised. There is a range of Superannuation product out there, be it historically through National Provident or currently District Health Board offerings and other schemes. As amounts accumulated over time are likely to be substantial, this deserves your attention to detail. What was a suitable strategy at the commencement of your career is unlikely to be appropriate as you approach retirement age. Prudent selection and review of your Superannuation scheme provides opportunity to align outcomes with your specific needs. After many years serving our medical clientele, we are familiar with the schemes on offer, and can discuss advantages/disadvantages with you.
If you have emigrated from the UK or Australia or indeed completed a fellowship offshore you may have contributed to an offshore pension. Detailed (and ever changing) rules apply in respect of taxation and transferrability. This is a complicated area and through years of practical experience we can assist you with an independent overview of how best to maximise pension entitlement.
This article was written by Sue Stewart and first published in NZMJ Digest Issue 94 (August 2020).
Please contact us for a copy of the NZ Funds Managed Portfolio Service Product Disclosure Statement.
The team at MFAS are here to help you achieve your financial objectives; whether that is starting a savings plan, purchasing your first home or an investment property, or looking forward to enjoying your retirement years. Whatever your objectives we will hep you define and implement a stagey for your success.
This article was first published in the NZMJ Digest 19 June 2020.
Hamish McPhail presents a practical example of how we can project our client's retirement income position using illustrative financial planning software and help bring clarity to our clients position so they can make informed decisions throughout their retirement horizon here.
MFAS in conjunction with NZ Funds Management Ltd and NZMA provided an Investment Update and Why Now is the Time for Advice presentation.
Women in Health Network (WiHN) nurtures the next generation of women health leaders in New Zealand. WiHN is a community of health students and professionals who are committed to enabling all women to have a fair and fulfilling experience entering and working within the health sector.
MFAS are very proud supporters of this great team!
If you are a partner in a medical practice or looking to become a partner, then you need a good understanding of what risk protection (if any) your partnership agreement includes, as you need to ensure your personal insurances work in conjunction with cover afforded by the business.