Life is predictably unpredictable, and change is inevitable. Nowhere is this more evident than in our financial lives.
As life becomes more complex, so do the financial decisions that come with it. Whether navigating tight cash flow, managing wealth, running a business, dealing with an inheritance, selling assets, or making investments, having a trusted team to help navigate life’s financial pathways can make all the difference.
History shows that the right financial team can play a critical role in building a successful financial life. That team needs to understand the implications of each decision and how those decisions fit within the broader personal, family, and business picture. It also needs to ensure decisions made are implemented effectively. In Auckland, this integrated approach is available through the collaboration of Greenlion, ClockworX and New Zealand Family Trust Services. Working together, they provide a seamless combination of advice and assistance, taking a wide view rather than considering each financial matter in isolation.
This broader perspective helps clients make informed short- and long-term personal and business decisions, whilst spending less time navigating between advisers. This permits people to focus more time on what matters most: their families, their businesses and building a financial life that enables them to do the things they want to do.
Sensible, Strategic, Street-Smart Advice
Getting your personal and business life in financial order is rarely just about the numbers. It’s about running your business profitably, addressing key issues and achieving your goals. Acting in this manner enables funds to be generated by your business, providing money to build the personal life you envisage.
Help in achieving business success is at hand with Greenlion, a Parnell-based chartered accounting practice. They assist their clients to gain a deeper understanding of their business operations, including identifying opportunities to improve the bottom line –essential to financial success.
Frequently, business owners need advice on structuring and tax. Beyond preparing financial statements and tax returns, Greenlion advises clients on these matters, aiding in operation efficiency and profit maximisation.
Business proprietors may also have investments outside their business, such as commercial or residential property.
Understanding how these types of investments fits in with a business owner’s financial life is critical when preparing year-end financial statements and income tax returns as it expedites all matters to be considered in the best interests of a client overall.
Competitive Advantage – Information
Correct timely information can provide a competitive financial advantage. A step in gaining that advantage is derived from possessing accurate financial statements, which rests on a client providing their accountant with complete and accurate information.
Managing volumes of information and maintaining records can be a challenging exercise. Missing or incorrect information wastes time and can lead to poor decisions, incorrect accounts and damaging financial outcomes. To combat these problems, Greenlion works with ClockworX, a bookkeeping firm extraordinaire.
ClockworX manages clients’ day-to-day financial administration, keeping information accurate, current, and organised. Its services include bookkeeping, payroll, GST returns, reconciliations and month end reporting, delivered through Xero and its ecosystem of integrated applications, helping business remain compliant and efficient. Having ClockworX provide these services ensures the information provided to accountants can be relied upon to be accurate. Consequently, preparing financial statements and returns can be simplified.
ClockworX clients aren’t just companies. It works with individuals, sole-traders, trusts, and partnerships – those that understand accurate complete information is power.
Working together, Greenlion and ClockworX create a seamless flow between bookkeeping and accounting, reducing duplication, improving accuracy, and giving business owners and trustees the information they need to make sound financial decisions.
Protecting Fruits of Your Labor
A successful business enables owners to receive good wages and dividends, providing the ability to create personal wealth and acquire assets such as homes, rental properties, and investments.
Whilst assets can take years to build up, a single event can put them at risk. Business creditors or relationship claims can threaten accumulated wealth. Trusts are used to mitigate these risks. Trusts provide asset protection, assist with estate planning and support tax management. These benefits only endure however if the people (trustees) looking after the trust assets satisfy their legal obligations and the trust remains compliant. This is where New Zealand Family Trust Services (NZFTS) provides valuable assistance.
NZFTS can act as an independent trustee. It also ensures trustees meet their legal duties and requisite administration is completed in a cost-effective manner. When working it adopts a holistic perspective, interacting with a client’s accountant, solicitor, and financial advisor, ensuring all advisors are cognisant of a client’s affairs. Having financial accounts to hand greatly enhances NZFTS’s ability to carry out its role. Therein lies the value of accurate complete financial statements.
Through NZFTS help, trustees can satisfy their legislative duties, resulting in the trust under their remit retaining its integrity and thus, the benefits it bestows. In essence, the humble compliant trust protects what the successful business has grown.
A Successful Financial Life by Design Not Chance
Success is rarely accidental. Financial success requires sound advice, accurate information and smart decision making. The right collaborative team can provide you with the practical advice and personalised support you need to navigate your financial pathway with clarity and confidence. Greenlion, ClockworX and New Zealand Family Trust Services is your trusted team for just this purpose. Helping you build today for your tomorrow.
