We are a specialist financial planning practice based in Christchurch serving clients throughout New Zealand. We are in the business of providing personal advice on matters of investment, insurance and personal financial planning overall.
We manage comprehensive investment portfolios for clients across New Zealand. Predominately our clients have traditionally been Medical Professionals who have accessed our tailored investment service through our business Health Professional Services Ltd. More recently we have introduced personal financial risk services and these are available through our business Portfolio Partners NZ Ltd
Operating as usual
Financial Markets and regulations are constantly changing. To stay ahead of the curve (and after years of planning), we’re excited to officially announce the merger of two experienced firms, Munro Financial and Sentry Financial, into one practice: https://fortitudefinancial.co.nz/
Oct 2019: When in doubt...
munrofinancial.co.nz History proves time and time again that the stocks with the most upside priced in, likely fall the farthest. We see this effect in every market, including real
February 2019: Financial Planning and Investing - How we do it...
munrofinancial.co.nz Between the age of 20 and 30, most of us are just getting ourselves sorted; employment may be erratic, study could still be demanding, and life in general will ...
January 2019: Don't make the classic investor mistake
munrofinancial.co.nz Now is not the time to be selling or shying away from good investments. It’s a time for buying, with a cautious eye. Assets that provide us with daily liquidity...
November 2018: A month on from the recent 'correction'.
munrofinancial.co.nz My expectation is that interest rates will creep higher, US rates in particular. The NZ Reserve Bank has signalled that any interest rate hikes are unlikely unt...
August 2018: "No Frills" or "Choices" Retirement? https://www.munrofinancial.co.nz/single-post/2018/08/10/%E2%80%9CNo-Frills%E2%80%9D-or-%E2%80%9CChoices%E2%80%9D-Retirement
munrofinancial.co.nz How would you like to see your spending in retirement? The Westpac Massey Financial Education Centre has just released its updated annual Retirement Expenditure...
munrofinancial.co.nz US Tax Cuts – a global consequence... A year on and the ‘Reality TV’ resident of the White House will be pleased with the exuberance his short term tax incentiv...
munrofinancial.co.nz I was fascinated when reading a recent research paper, which canvassed 161 pan-European Pension Scheme Managers, with more than 1.71 Trillion under management. ...
Following a recent presentation, I thought to grab a couple of very quick snippets. These are both very good examples of past returns reflecting what we can expect for tomorrow – not specifically in terms of the result, but in terms of the journey.
Read more at... https://www.munrofinancial.co.nz/single-post/2017/10/01/Reading-the-Tea-Leaves
munrofinancial.co.nz Following a recent presentation, I thought to grab a couple of very quick snippets. These are both very good examples of past returns reflecting what we can exp...
We're excited to announce that our new and refreshed website is now live. You can check it out at https://www.munrofinancial.co.nz/
munrofinancial.co.nz Munro Financial offers a broad range of wealth creation strategies, including advice on Fixed Interest, Shares, boutique Fund Managers and KiwiSaver.
We have moved! Our new office is located above Frobishers, at Level 1, 322 Manchester St, Christchurch Central
Some 'interesting' reading on how over/undervalued house prices are today, relative to historical averages of rent & income
munrofinancial.co.nz Tuesday, 15 March 2016 Stealing from our Children - March 2016 I’ve been speaking with some younger people recently, a number of them the family members of existing clients. Some are looking for investment options, but a number have been asking questions about real estate, and buying their first hom…
From the archives: Remembering 'Black Tuesday' http://www.munrofinancial.co.nz/articles-xidc87809.html
munrofinancial.co.nz Saturday, 01 August 2015 From the archives: Remembering 'Black Tuesday' - August 2015 This article from the Dominion Post back in 2007 The late 1980s were heady days for sharebrokers; big money, big personalities and big business, shouting and screaming on a trading floor, chalkies scratching up the…
Tony's latest article is 'a quick review on interest rates'
munrofinancial.co.nz Wednesday, 01 July 2015 A quick review of interest rates - July 2015 Global equity markets seem healthy enough, despite the uncertainty of Greece remaining in the Euro. It was only a matter of time before a default occurred and I guess it came as no surprise to many, hence why we’ve seen very little…
Looking Back - Tony discusses some major market influences over the last 20 years
munrofinancial.co.nz Straight Talking - July 2014 Tuesday, 01 July 2014 In a world where the media and almost every person believes Government will solve all problems, it is easy to forget that private enterprise is the source of peoples wealth, not the taxing ability of bureaucrats or politicians. Tax breaks can only c…
[08/29/14] Something to ponder when thinking about financial markets and investing - it's better to be 6 months too soon, than 6 minutes too late!
This discussion was sparked by a couple (currently aged 45 years), thinking about "retirement”...
If you retired today, we know NZ Super is $282.26 each p.w. = $30,000p.a. net of tax (a pre-tax equivalent income of $36,000p.a, just for being a Kiwi resident and turning 65).
I imagine that by the time you come to retirement this benefit will not be available until age 70; it may also be means tested. While our political parties are not talking this degree of limitation, it’s inevitable.
NZ had a Superannuation Surcharge Tax until 1998 (it had been in force for 13 years), which assessed pensioners income from sources outside their State entitlement (interest, dividends, wages, private pensions etc) - it was effectively a tax. It served to reduce their State pension entitlement on a graduating scale, until such time as their entitlement to NZ Superannuation was zero. Many people created structures to avoid the tax; capital gains for example being exempt from the calculation.
NZ’s pension system first started in 1898, for those aged 65 plus, and it was then subject to a rigorous means and income test. It was set at 1/3 of the average working man’s wage and was twice this for a couple. Other provisions included evidence of good character (designed to exclude criminals, drunkards and wife-deserters) and required application for the benefit through a public court session (I wonder how those restrictions would be received today?). In 1898, life expectancy wasn’t all that long.
If we go forward to the 1930’s (when the welfare state decided you could have a poor character and receive a benefit), the average life expectancy for men born that year was 58 and for women, 62.
A child born in 2014 is said to have a life expectancy of 100 years. Today’s life expectancy if you are about to turn 65 is another 19 years for men and 21 years for women (84 for men and 86 for women).
A universal pension for life is entirely dependent on tax funding. Its original architects anticipated that in retirement, the State would be funding a person’s living cost for an average period of 7 years. Today, those who reach age 65 receive full pension benefits in addition to their full time salary or wage. The “average” period of payment is 20 years! The current system is unsustainable and while we all pay our taxes, the extent of today’s benefits is simply stealing from tomorrow’s generation.
By the time you come to retirement, you will be in the proverbial hot spot. There will be a vast number of people ahead of you already in retirement, more retirees than the nation has ever known per head of population. The tax collected from the nation will be in demand for all kinds of projects; healthcare will be unaffordable for most and priority given to the young and acute. While I do expect some benefits to remain, today’s pension gifts simply cannot last and so you and I shouldn’t count on NZ Super.
Straight Talking - Tony's latest article conveys his thoughts around changing markets
munrofinancial.co.nz Straight Talking - July 2014Tuesday, 01 July 2014 In a world where the media and almost every person believes Government will solve all problems, it is easy to forget that private enterprise is the source of peoples wealth, not the taxing ability of bureaucrats or politicians. Tax breaks can only co…
KiwiSaver - are you missing out?
It's that time of year again - to make sure you're making the most of your KiwiSaver investment, and taking advantage of the Government's annual contribution.
* Every year the Govt gives members 50 cents for each dollar they contribute to their KiwiSaver Scheme account - up to a maximum of $521.43
* To get the maximum amount each year, members need to contribute at least $1,042.86 to their KiwiSaver account, and be eligible for the full period (1 July - 30 June)
* Employer contributions and amounts transferred from an Australian complying superannuation fund do not count towards the contributions needed to qualify for the Govt's annual contribution
* Any additional contributions need to be in by 30 June 2014. So we encourage you to get your contributions in before 23 June to allow for processing.
Shortly we will be contacting Munro Financial KiwiSaver clients, who we believe might be missing out.
To talk to Tony Munro, please contact our office on 0800 2MUNRO (0800 268 676)
What has history shown us about investing?
munrofinancial.co.nz What has history shown us about investing? - February 2014Friday, 21 February 2014 The attached article (sourced from AMP Capital’s ‘Taking Stock - Summer Issue’ magazine), touches on a number of key principles that Tony firmly believes investors need to keep to the fore. Investing does not necessar...
Looking ahead to 2014 - Tony shares his key take outs for the year ahead:
munrofinancial.co.nz Looking ahead in 2014 - January 2014Tuesday, 28 January 2014 Shuffling through articles and research notes as I cleared a way for 2014, I came across a few articles that for me typified 2013, and indeed gave me confidence that 2014 could also be an equally exceptional year, so where to in 2014? Per...
Asset Sales - take a step back! Read more about Tony's thoughts on the Government's partial asset sales:
munrofinancial.co.nz Asset Sales - take a step back! - November 2013Monday, 25 November 2013 Did you get your voting papers? This weekend we get to vote on the Governments partial asset sales (again). I see so much in the media about all this. Let’s take a step back... I’ve always imagined that Government (Labour or Na...
KiwiSaver - what can Munro Financial do for you? Read about Tony's 'goldilocks approach' on our website:
munrofinancial.co.nz KiwiSaver - what can Munro Financial do for you?Friday, 01 November 2013 September has come and gone. Time keeps passing. How is your retirement plan looking? We selected OnePath (now ANZ Investments NZ Ltd) as our principal KiwiSaver management team and that’s proven to be, on average, the best of…
Do you have an Australian Super? Now you can bring it home! See our website for the full blog... http://www.munrofinancial.co.nz/articles-xidc87809.html
munrofinancial.co.nz Do you have Australian Super?Tuesday, 01 October 2013 Now you can bring it home... If you’ve worked in Australia any time since 1992, you may have some Australian super retirement savings. The good news is that Kiwis may be able to bring their retirement savings with them when permanently emigrating...
This is a wonderful story, hard to believe, but watch the auction!
"Let's make sure your position is never this precarious".
This stunning Navajo First Phase Chief's Wearing Blanket made headlines when it sold for 1.8 million dollars at John Moran Auctioneers' June 19th sale in Sou...
Do you run your portfolio like a business? http://sqb.co/UaH
www.inc.com In your company, you focus on what's coming--not what happened last year. It's time to manage your investments the same way.
Six signs of an asset bubble...a timely reminder not to follow the herd.. http://sqb.co/TSn
www.stuff.co.nz What do tulips, car licence plates and ostriches have in common?
How banks determine interest rates...very funny http://sqb.co/RJD
www.youtube.com John Clarke and Bryan Dawe are laughing all the way to the bank.
7 ways to blow your new year financial resolutions....take heed. http://sqb.co/PdX
www.forbes.com Budgeting (Photo credit: 401K) Our caller had all but given up- we were her last attempt. She called the financial helpline because over the past few years she has struggled to take control of growing debt and along with that her frustration was growing at her lack of financial success. It [...]
Alternative investment definitions......very funny.. http://sqb.co/PdW
politicalhumor.about.com A redefinition of basic financial terms to fit the financial crisis.
Twas the night before Christmas..at the underwriters.. . http://sqb.co/PdU
www.insurancejournal.com 'Twas the night before Christmas (12:01 a.m. 12/25) and all through the house (single family, joisted masonry, e.c.3, terr. 44, pc5), not a creature was s
The 1% savings calculator - interesting how much difference a small change can make - http://sqb.co/P8x
www.nytimes.com What would happen to your savings balances if you saved just one percent more a year?
You may have heard of the phrase...the butterfly effect? Well here is the insurance version... http://sqb.co/Ozp
Why I don't know is often your best money answer.. http://sqb.co/OPu
bucks.blogs.nytimes.com Real financial planning is about process -- and dozens of course corrections over long periods of time.
We are in the business of providing personal advice on matters of investment, insurance and personal financial planning overall. We manage comprehensive investment portfolios for clients across New Zealand. Predominately our clients have traditionally been Medical Professionals who have accessed our tailored investment service through our business Health Professional Services Ltd.
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