Future Vision Financial Advisers have a long history of providing specialised financial advice to the Rural Sector assisting our Farmer clients to grow and protect their wealth.
Financial Services for Farmers
Since 1986, Future Vision Financial Advisers has specialised in providing financial and investment advice to farmers. The team at Future Vision Financial Advisers recognise that farmers can become very wealthy in their own right, but the specialised service that Future Vision Financial Advisers offers to farmers is designed to enhance and diversify that wealth base. Accordingly, the advice offered to farmers encompasses, but is not limited to, cash management, debt management, risk management, off-farm investment strategies, strategies for growing the farming business, estate planning and succession planning.
Many of Future Vision Financial Advisers existing farming clients have not only continued to expand their farming assets through growth and acquisition, but have also developed very significant off-farm investment portfolios and have become global investors as a result. Of particular interest to farmers, would be the Future Vision Financial Advisers Private Banking Services, Share Portfolios, Wealth Management, Farm Succession Planning and Estate Planning.
Farm and Business Succession Planning
A major challenge for farming or closely held business families is how to ensure that all of the children in the family are treated fairly and equitably in the event that only one child (as an adult) succeeds to the family farm or family business. With respect to farmers, the value of farm land has reached such levels that most families simply give up on the thought of just one of their children being able to succeed to the family farm and, accordingly, the farm is often sold out of the family. This need not be the case. Future Vision Financial Advisers have, over the years, built up very significant expertise in providing strategies to resolve this very thorny issue. We have successfully helped dozens of New Zealand farming families resolve this problem.
There are three key objectives to bear in mind when attempting to put together a Farm Succession Plan:
- That the retiring generation have their income and capital position protected for the rest of their lives.
- That the farming successor can farm the property competently and confidently without being overburdened by debt repayments.
- That the non-farming children are treated fairly and equitably.
To achieve all three of these objectives requires the following:
- A Funding Mechanism
- Regular Review
A key component that the Future Vision Financial Advisers method brings to the table is the concept of the Family Bank. The use of the Family Bank is a very powerful and effective weapon, has been widely used throughout history, but is hopelessly under utilised in the New Zealand situation.