Thanks for taking time to find out more about us but our holistic service seeks to put your needs first. Our passion is helping people to achieve their life goals. Personal Financial Planning is advice in the context of a relationship so take time and learn a little about us and we look forward to getting to know you. The Financial Heath Check is a great meeting place. We are not sales people but educators, learn and prosper!
It has been a 25 year journey
Strategic Financial Planning was founded by Michael Taylor in 1990. He was new to Financial Planning, coming from an educational and pastoral background. Also, Financial Planning was new to New Zealand. Michael developed Strategic’s service offering from the ground up – setting it apart from its peers. The cynics said the public would never pay a fee for service! How things have changed.
Based in Christchurch, Michael developed a practice, and worked hard on systems that allowed him to provide high quality financial planning. These are now used by Banks and in several countries.
Historically, Financial Planning has been overshadowed by selling financial products with only lip service paid to the full financial planning process. It was Michael’s pastoral background that kept the focus on the clients needs. Many times he has had to reject invitations to adopt strategies or systems that would have provided him with better remuneration but would have limited client choice. Michael has always recognised that product focus rather than client focus is a strategy that ends in tears.
Client Centric Systems
Very early, Michael realised the importance of good systems to provide good service. Michael has invested heavily in Strategic’s sister company OMNIMax Software Solutions Limited. OMNIMax has developed financial planning software second to none – internationally. Quite an incubator for NZ IT talent! Ironically, Financial Planning tools have not had a high priority in NZ. We believe this was one of the factors resulting in investors being compromised during the Global Financial Crisis. OMNIMax is now used by ICICI Bank (India’s largest private bank), SBS Bank in New Zealand and by Advisors in the USA, India, Singapore, and New Zealand.
Advice Profession Shake Up
The financial planning industry’s teenage years were challenging. The 1990’s saw very good returns which encouraged a product focus rather than a client focus and, of course, clients were not concerned when returns were so good. With the new millennium that all changed. The financial crisis exposed the poor quality of some advice. Financial “Jetboats” did not handle the big economic waves well. Many wished that had had a “Lifeboat” instead of a “Jetboat”! Finally, the government has acted with “tough love”: it has imposed an Authorisation regime and very tight controls on financial advisers. Up to this point anyone could call themselves a Financial Advisor and had little if any accountability for the advice they gave.
Strategic has welcomed intervention of the new legislation overeen by the Financial Markest Authority. We are one of the few practices in New Zealand that can describe themselves “Independent” under the new regulations. We have even been able to extend the fee principle to insurance solutions in an innovative way. Others have ended up opting out of insurance solutions, so critical to good planning, to secure their “Independent” status. Strategic retains no renumeration from any third party.
Christchurch Shake Up!
Despite our offices being destroyed by the quake, we remain committed to staying in Christchurch (check out the view from our current “office” below!). Thanks to OMNIMax having implemented their systems in the “cloud”, we were up and running very soon without any technology hiccup. We offer a personal service but it can be delivered over the internet.
We recognise that many Christchurch people are having to change their life plan and we are working with clients to do just that. The recent addition to our services, the Financial Health Check has fortuitously arrived just as people really need it (make sure you at least take up this service – it is so empowering just when so much else in Christchurch seems designed to make us powerless!). We seek to combine financial literacy with letting you see how you are placed. This is an exciting tool which OMNIMax is being released internationally. Probably a global first with its innovative format.
Onwards and Upwards
Where to Next?
- Learn more about how we work with you when you Choose Us?
- Meet the Team
- Or, if you are ready, we can Get Started