Financial solutions provider Finzo announced that it has secured an investment placeholder with Dimensional Funds Advisers (DFA) UK. This will give access to the Dimensional suite of #GBP funds for Finzo client advisers.
The GBP funds are a new investment option that allows investors in New Zealand to access these unique funds via iSelect. Investors can access this all-new suite of funds only through Finzo client advisers by means of the Finzo Platform.
With a possible ‘hard Brexit’ looming many expats are naturally reluctant to convert there GBP to NZD.
Nick Stewart, CEO of Finzo, said: “The launch of these funds is incredibly well timed. The current exchange rate is not favourable for those looking to bring their UK Pension to New Zealand, sitting at just over 30% less than the historic average for the last 30 years.”
He added, for some the answer may be to convert now, if they can achieve their goals at the current exchange rate. But for those who are still reluctant or nervous about that option, this new investment option enables them to control their funds from New Zealand with the help of a New Zealand financial adviser, but keep them in pounds for the time being, and convert to New Zealand dollars over a period of time.
Converting the pounds to New Zealand dollars over a period of three to four years would capture the ‘dollar cost average’, essentially meaning they would receive the average exchange rate over that period, smoothing out the highs and lows.
“By giving access to global markets and global fixed interest, investors get the benefit of good returns, but don’t have to lock in that currency. We think this is a really good outcome for our adviser clients and prospects who want to enable those discussions with their British ex-pat clients in New Zealand.”
“We’re uniquely positioned in the global best practice space to bring these exciting new opportunities to the New Zealand market due to our partnership with i-Select and DFA. For adviser clients, we’re confident that Finzo will deliver outcome-orientated solutions, outstanding transparency and, importantly, better value. This is crucial in today’s regulatory environment.” Nick said.