Former BNZ bankers back new advice firm

Former BNZ Private bankers embark on new journey launching top-end financial advice firm.

Wednesday, June 3rd 2020, 7:30AM 1 Comment

Donna Nicolof, who previously headed up BNZ's Private Bank has established a financial advisory firm with other former bank staff.

Joining her at Paua Wealth are Chris Glackin and Belina Teoh.

The new business is described as an independent, boutique wealth advisory firm for wholesale investor clients including high net worth individuals, family offices, select not-for-profit foundations and trusts.

Pāua Wealth Management has created a business model to support the independence and integrity of its advice and remove potential conflicts of interest, Nicolof says. She has said no to product commissions or referral fees in favour of a fees-for service approach.

“We believe New Zealand investors deserve truly independent advice and the better outcomes this delivers. We only receive fees agreed to by clients so they can be confident that we act only in their best interests,” she said.

“We do not manufacture investment products and our advisers are not incentivised to sell particular products or trade on clients’ portfolios, which can create conflicts of interest. We are motivated by delivering quality advice and superior service,” she said.

Pāua Wealth Management is employee-owned, where every employee contributes to and participates in the success of the business.

“We have assembled some of the industry's most experienced wealth and investment professionals who believe that they can change financial and investment advice for the better."

Recognising that every client’s situation is unique, a bespoke portfolio is developed to help them achieve their financial goals, whether this be capital growth, capital preservation or succession planning.

The firm's Investment Committee includes independent members, George Boubouras and Quentin Stewart. It also has an Advisory Board including Andy Morris, Catherine Savage and Rob Campbell.

Pāua Wealth Management is committed to responsible investing believing that it is one factor that leads to reduced risk over the long-term and enhanced portfolio performance.

“We aim to select investments that adhere to our responsible investing beliefs and as such, we require our investment managers to consider environmental, social and governance factors in their analysis and decision making,” Nicolof says.

She says the firm is "passionate about the value of good advice. We are committed to growing the financial capability of future generations and giving back to the communities in which we live, so five percent of our profits will go towards delivering financial literacy programmes in schools.”

Tags: BNZ Donna Nicolof Paua Wealth

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Comments from our readers

On 3 June 2020 at 8:40 pm JonoW said:
I am very interested to see the success here, fee for service is hard to make work, I wish you all the greatest success.

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