From mortgage repayments to a secure investment strategy
When David and Adele met their financial advisor, Jordi Garcia, Adele was working as a music teacher and homemaker, and David worked as a dentist with a large dental practice in Auckland.
In 1991, David ran a dental practice with four dentists, the couple had two children, and purchased a beach house whilst paying off the mortgage on their family home in Onehunga.
They enjoyed their success and knew that they should save for the future, but David and Adele needed guidance as to what their options were, and the best strategies to use.
“We sought security. With young children and a big business to run, we realised we needed to focus on long-term financial planning and create a serious savings plan for the future.”
With the financial plan Jordi created for them, David and Adele were able to make the most of their income to pay off their mortgage. Once the mortgage was gone, and with Jordi’s guidance, the payments that had gone into the mortgage were then turned into an investment strategy.
David and Adele continued living their normal lives with the outgoings they’d grown accustomed to while paying off a mortgage, but the money was now going towards their long term financial security with investments that were carefully tailored to their risk profile.
“Whenever our income increased, we simply increased the payment into our investments. We’re very cautious investors, and we sought to retire early. When you retire early, you have no means of replenishing anything that’s lost through a risky investment. So Jordi made sure we were comfortable with every decision!”
NZFP’s holistic approach to financial planning
NZFP follows a life-first approach to financial planning, tailoring our expertise to our clients’ unique goals. This means that our advisors tend to develop a very personal and trusting relationship with their clients, and David and Adele’s relationship with Jordi Garcia is no exception.
Enjoying Jordi’s open yet professional approach that enabled herself and David to comfortably discuss their spending, Adele recalls connecting with Jordi on their shared passion for good bookkeeping:
“Financial planners have to calculate what your lifestyle costs are, and for Jordi I imagine that’s usually quite a complicated job. But he liked me because I already had a big spreadsheet of our monthly and yearly spending!”
Jordi worked with David and Adele to achieve their goal of maximising their investment portfolio whilst effectively managing risk, tailoring the financial plan and following support to suit their needs and comfort.
“Right from the start, Jordi understood us as people and had our best interests at heart. He always explains everything very clearly and makes sure we completely understand his advice and any changes that need to happen to our investments or our financial plan. After 30 years, we fully trust that what he thinks is best.”
An award-winning relationship
When Jordi Garcia won an industry award in 2001, it was David and Adele’s comprehensive financial plan and its implementation that was reviewed by a panel of judges – including then Retirement Commissioner, the Deputy Governor of the Reserve Bank, and a well-known financial journalist.
“We thought it was great that Jordi was prepared to put our plan and investment portfolio to others in the industry to scrutinise – if they had criticisms on our financial plan, we could have made further improvements, but it turns out they didn’t! Jordi winning the award shows how good our financial plan and investment portfolio must be!”
Looking ahead
David and Adele enjoyed successful careers, but needed guidance to ensure their comfortable lifestyle could be sustained long after they retired. After 30 years with Jordi’s guidance and financial planning, David and Adele had the security and the confidence to retire early.
Having made Jordi a trustee to their family trust, David and Adele are an example of the level of trust and confidence that NZFP’s financial planners establish with their clients.
Now in their 70’s, David and Adele are enjoying their retirement and the freedom to spend quality time with their family.
“We’re going to continue to enjoy the best possible health that we can, support our friends, and spend quality time with our family. Our children live overseas, and thanks to our financial plan we can comfortably visit them whenever we like.”
