FAQ

What happens if I/we approach you for advice?

Do you provide an ongoing service?

Are your advisers professionally qualified?

What external consultation and research resources are available to support your advice?

How can I be sure my adviser is working in my interests?

Is your advice independent?

How are you paid?

Why do you charge fees?

Have I left it too late to achieve my goals?

How do I know who to trust?

I have some money to invest - what should I do with it?

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What happens if I/we approach you for advice?

Our first meeting is usually at our own expense.  After addressing any questions you may have, we discuss your requirements, and work through a simple fact-finding process.  This helps us decide whether we can help you and enables us to provide a written estimate of what our initial advice is likely to cost.  Then, if you wish to proceed, we research and analyse your situation, identify the key issues, prepare and send you a draft of our advice.  Once you have had the chance to read the draft we meet again to discuss any issues arising, and to make any changes required.  Then we agree on an action plan and oversee the implementation process.

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Do you provide an ongoing service?

Yes, if you require this (and most clients do).  If you have investments we contact you every six months (or otherwise by arrangement), and otherwise we contact you annually to update your details and offer you a review meeting.  You can also contact us at any time.  The costs are usually covered by ongoing fees charged to your investment portfolio, and or by ongoing insurance commissions that we receive.

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Are your advisers professionally qualified?

Yes.  Simon and Rosemary Hassan are both CFPCM (Certified Financial PlannerCM) professionals. They are also both university qualified and belong the Institute of Financial Advisers (IFA, www.ifa.org.nz - the professional body for financial advisers).  With more than 35 years of experience between them, you can be confident that the advice you get at Hassan & Associates will be sound and based on your needs.

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What external consultation and research resources can you use?

We consult with an informal group of independently owned and non-aligned adviser firms we call Nazrudin (after an ancient mystic who sat backwards on his donkey so that he could see and communicate with his followers).  Collectively Nazrudin firms advise clients with more than $200 million of investments in six offices throughout New Zealand.  The group contracts an external analyst (J M Consulting Ltd) to provide research on asset allocation and individual securities.  We also access investment research from FundSource, Morningstar and Farrelly’s, and insurance research from Strategy Ltd.

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How can I be sure my adviser is working in my interests?

One way to answer this question is to say that we are professionals, and true professionals always put their clients’ interests first.  As IFA members we are bound to do this.  Another way to answer the question is to say that the vast bulk of our income is from fees.  We prefer not to work for commission, and where practicable we charge fees and rebate any commission to clients.   And where we do accept commission we give clients the details and reduce any other fee accordingly.

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Is your advice independent?

Because we sometimes accept commission we prefer not to describe ourselves as “independent”.  However as explained above we work strictly in our clients’ interests, and generally charge fees for our work, rabating commission.  We have no ties to any bank, insurance company or other offerer of financial products.

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How are you paid?

All our advisory staff receive market salaries only.  They do not receive commission or bonuses.  Our Senior Client Advisers and their family interests own the shares of the company, and may participate in company profits.

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Why do you charge fees?

We believe that charging fees rather than accepting commissions is the best way to ensure that the advice we give is based on your best interests.

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Have I left it too late to achieve my goals?

Many people worry about this. They've heard they will need a huge sum of money to achieve their financial goals in retirement. Good planning and discipline will assist you to achieve your goals. The earlier you take positive steps to plan and implement your financial future, the easier it will be. If you don't plan, you'll never know.

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How do I know who to trust?

You should deal with a professional.  New Zealand law does not yet require financial advisers to be qualified, registered or authorised.  So it is very important not to be taken in by slick marketing or a salesman’s patter.  In making your decision you should consider how your adviser is paid, their qualifications and experience, business relationships and professional memberships.  You should also ensure that their approach suits your needs and chose someone you can relate to: if things go well you may be working with them for a very long time.

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I have some money to invest - what should I do with it?

The answer depends on things like your time horizon, your other resources and how you feel about risk, so there’s no quick answer. We'd like to sit down with you to find out more about your vision for the future, your values relating to money as well as your goals and needs. From the information gathered we can then work with you to find the right course of action for you.

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