In 1994 Alison and Richard Renfrew established a financial planning firm called Creating Wealth. Financial Planning is about creating, growing and protecting wealth. While the name was appropriate it tended to attract those wishing to create wealth rather than those who already had it.
By the early naughties Alison and Richard wanted to rebrand the company to reflect a mountain theme. Why?
They met during 1983 while on a one year climbing and mountaineering course which involved trips into the mountains every second week-end. They have a love for the environment. Their romance began on Mt Ruaphehu when they spent a night in a snow cave they had built.
Mountaineering requires similar skills to financial planning. You need a team to be successful. Climbing mountains alone is dangerous; likewise making your own investment decisions could be equally dangerous. An investment that looks excellent to you may not be so good when discussed with an experienced adviser who can access high quality research. Many investors have lost their life savings by investing in ‘opportunities’ that an investment adviser may have cautioned them against.
You need to be intelligent and methodical to plan a mountaineering trip just as you need to be when you invest your money. Detailed and well thought out planning that identifies your strategy and your objectives is essential for both mountaineering and investing.
When climbing, there are times that are scary. You may need to hunker down and ensure you are safe from the elements. It’s misty and until the weather clears you don’t know where you are going. You must be patient and not panic. Financial markets are constantly changing. When there are sudden market fluctuations the worst thing you can do is panic. You will be certain to lose your money if you do. In uncertain times you need an adviser more than ever. You need to be ‘roped up’ to ensure you will stay safe and not slide down rapidly into an abyss.
When you reach the summit, or attain your financial objective, the view is often spectacular. You have a wonderful sense of achievement and feel pleased that you stayed to your committed plan in spite of challenging obstacles along the way.
Come on up! The view is beautiful here and it’s not crowded! The majority give up too soon – or never even start. They turn back and miss out on the view and achieving their goals.
Mr and Mrs Lyford did not purchase Creating Wealth as some clients thought at the time the name was changed. Finding a new name with a mountaineering theme for a financial planning company was challenging. Peak? Aorangi?
It wasn’t until Alison and Richard discovered the beauty of Mt Lyford and purchased a log chalet there that a friend suggested Lyfords as the new company name.
Lyfords is a company with fully qualified and highly experienced investment advisers who enjoy the outdoors, fresh air, having adventures, travel, reading, history, skiing, music and gardens (Alison Renfrew devotes eight hours a week to overseeing and working on a 30 year objective of developing a park). They seize challenges and continually give their best advice to their clients because they want them to have the best outcomes for their investment portfolios so that they too can enjoy the view.
It really is a beautiful view here. Come on up!