Over a year ago, Findex expanded its offering in New Zealand to include Wealth Management services. The Findex Wealth Management team has built an excellent financial planning and investment offering off the back of Findex Australia’s wealth management arm, which has over $17bn under management.

The advice process involves developing an in-depth understanding of your financial and lifestyle objectives, your risk profile, cashflow and retirement modelling, whilst also considering your estate planning arrangements. It is a comprehensive and ongoing financial service that extends its scope to much more than just investment selection.

KiwiSaver Changes: Should I increase my contributions?

From 1 April this year you can now elect to contribute 6% or 10% of your gross salary to KiwiSaver. This is in addition to existing options to contribute 3%, 4% or 8%.

Should you increase your contributions? That depends. By and large you will gain access to your KiwiSaver at 65 years of age or to buy your first home. If these times are near, then perhaps contributing more could be a good idea. If they are not, you may be better off keeping your contributions at a rate that your employer is matching (normally 3%).

If you have surplus cashflow above your current contribution, you might consider saving regularly in a separate investment fund that you can have access to at any time.

The government will match your contributions 50c to the dollar up to $1,042. Despite the changes, there are no tax incentives to increase your contributions above this amount. All the changes do is provide more contribution options.

The financial planning and investment services of Findex Wealth Management are available to you as a client of Findex. If you would like to know more, please talk to your adviser and ask for a referral to your local Wealth Management adviser.