Phil: Another good deed for Chch from an adviser

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Wednesday, March 9th 2011, 1:16PM

by Philip Macalister

Last week we ran a little piece telling how Christchurch adviser Bernard Duncan was help the Student Volunteer Army in Christchurch. Today I was sent this about what another adviser is doing. Impressive to see this sort of support. Well done guys. Financial Planning firm Harmer Parr winds up its charitable trust in favour of the Christchurch earthquake appeal. Long term Tauranga investment advisory firm Harmer Parr had established a small charitable trust by transferring to the trust a small part of each year’s profits. Two years ago Harmer Parr became part of Camelot Group and it seems timely to wind up the trust. Distributions to date have established a micro bank in Mongolia through World Vision and a commitment to sponsoring the cost of five years predator control in 50 hectares of local Otanewainuku Forest, supporting the reintroduction of Kiwi and Kokako to the forest. The Tauranga Food Bank and Salvation Army have also received distributions during the peak of the recession. IFA member Stephen Parr’s family has had a strong historical connection with Christchurch having first established in Christchurch   in the 1850’s, and a past great uncle of Stephen’s (of the same name) was Canon of Christchurch Cathedral. It seemed fitting that the final distribution of around $20,000 will used to support the work of the very impressive Student Volunteer Army, other agencies, IFA appeal, and the Cathedral rebuilding fund. “I have always been keen on the principle of leverage, and funding projects such as Micro Banks that keep on assisting people move out of poverty into micro businesses; and supporting armies of young students seem excellent examples of how relatively small amounts of funding can create or support major benefits that are out of proportion to the amount of funding.”. Stephen encourages other businesses, especially financial services firms to consider forming a corporate charitable trust. He is keen to assist any that are interested. Financial Advisers above all, should know the dramatic power of compounding small amounts of money over a long period (tax free). This is so easy and painless to do and yet is very effective and satisfying, he says.

You can read Philip's blog here: http://www.goodreturns.co.nz/blog/

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