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Retirement & Succession Planning

At Nairn Fisher we will assist you to identify your retirement goals and how you can plan to achieve them. For business owners this exercise is building a strategy to pass on leadership roles or ultimately sell the business. 


Retirement Planning

Retirement planning takes on varied meanings for different individuals. In this context, we refer to that pivotal moment when we bid farewell to the 'office' or formal employment, often due to advancing age. It's the phase where we opt to step away from actively generating income through physical endeavours.

In essence, the greater the wealth you amass for your retirement, the more self-reliant you become. 

Your wealth encompasses a spectrum of assets: properties, equities, liquid assets, real estate holdings, vacation residences, and business interests. The process of wealth accumulation extends beyond superannuation schemes, as each asset possesses the potential for conversion into cash when the need arises.

Initially, the focus should primarily rest on determining the total wealth requisite for a comfortable retirement. Following this assessment, you can then embark on selecting the most suitable accumulation approach. All avenues, be it term deposits, managed funds, or the diligent reduction of mortgage debt, hold merit.

At Nairn Fisher, we're committed to aiding you in delineating your retirement aspirations and establishing a realistic savings goal. This exercise is not only pivotal for personal financial planning but also informs strategic business planning for entrepreneurs.

Asset Planning & Trusts

Trusts stand as a crucial financial instrument in the realm of asset planning. Established through the transfer of property from a person, known as the settlor, to trustees, trusts are primarily designed for the benefit of a distinct group known as the beneficiaries. The trustees, bound by legal obligations, are mandated to utilise the entrusted property in accordance with the settlor's specified purposes, as outlined in the trust deed. Among these objectives, a common aim is to facilitate payments from the trust property to the designated beneficiaries.

Despite being often named and referenced as if they were separate entities (akin to a limited liability company), trusts are not distinct legal entities. They fundamentally represent a relationship between trustees and beneficiaries. Trustees bear the responsibility of managing trust property in the best interests of the beneficiaries.

Advantages of Trusts

Trusts offer a range of benefits, including safeguarding against creditors, shielding assets from relationship property claims, and facilitating the seamless passing down of specific assets across generations. Additionally, trusts can be instrumental in securing rest home subsidies under certain circumstances, streamlining estate administration, and providing a framework for overseeing the assets of individuals who may require assistance. Trusts may also yield potential tax advantages.

For further insights into the potential advantages and applications of trusts, do not hesitate to get in touch with the Nairn Fisher team today.

Succession Planning

As the demographic shift towards an aging population intersects with a younger generation seemingly less inclined towards business acquisition, established assumptions about our businesses being our future retirement funds face scrutiny. Small and medium-sized enterprises (SMEs) now find themselves compelled to extract the capital value of their businesses. With a surge in businesses projected to enter the market in the coming years, a growing divide between thriving enterprises and underperforming counterparts is anticipated.

Robust businesses will persist in commanding premium prices, while those struggling may encounter intensified pricing pressures or potentially become unsellable. The optimal timeline for a well-structured succession plan spans from the initial blueprint to its final execution, ideally stretching over three to five years. In an ideal scenario, a minimum of two years is recommended for thorough preparation and refining of the business for a seamless transition.

This meticulous preparation, often termed "grooming," is pivotal in maximising the business's overall worth and the capital you'll ultimately realise from its sale. You'll encounter four viable options: selling the business outright, facilitating generational succession within the family, orchestrating a management or employee buyout, or implementing a methodical liquidation of business assets.

Delving into the potential pool of buyers and identifying the most viable candidates proves instrumental in shaping your succession strategy. Prospective buyers may include family members, competitors, suppliers, and dedicated employees.


Business Valuations

Our Rotorua business valuation team pride ourselves on our ability to produce a top quality and accurate valuation. Most valuations are required for the sale and purchase of shares between directors or for transfer to a related Family Trust. For these engagements we can produce a robust cost effective valuation. Firstly, we will advise you if you actually need to pursue a full assessment. Sometimes an entity is too small or the issue sufficiently narrow that a business valuation is not required.

The process requires a high degree of technical knowledge as well as a good deal of judgement and our Rotorua business valuation team excel at the challenge. It is often said that a good valuation is more of an art than a science.

Navigating the Sale of a Business 

For many, the goal of a business is to realise an eventual business sale. At the least, you may need a succession plan or management strategy. It’s important to have an accurate idea of what your business is worth before you decide to sell. Nairn Fisher can assist you in determining a suitable price tag for your business.

Other scenarios

Sometimes matters are a little more contentious such as for relationship property division or in a dispute between shareholders. In such scenarios, where there is a possibility of litigation Nairn Fisher are able to produce a comprehensive valuation of an extremely high standard, suitable for legal scrutiny and Court. 

For further insights, do not hesitate to reach out to the Nairn Fisher team.

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Contact us to schedule a free consultation and discover how Nairn Fisher can help you achieve financial success.

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