For client peace of mind and for investment administration purposes, all investments are always held through an independent custodial service (as a bare trustee).
NZ DIMS uses the independent custodial services of Investment Custodial Services Limited ("ICSL") which together with the appointed administrator Aegis Limited ("Aegis") form the Aegis Service. NZ DIMS has contracted Aegis to provide services to NEWTON ROSS clients. ICSL and Aegis are both members of the ASB Group of Companies, the ultimate parent of which is the Commonwealth Bank of Australia.
The Aegis Service currently administers and custodially holds in excess of NZ$11bn for more than 25,000 private clients.
Benefits of our investment administration service include:
At all times clients have full control over their strategy and investment portfolio. The portfolio will be managed in accordance with the agreed client benchmarks and mandate.
NEWTON ROSS and NZ DIMS believe that it is critical that clients have clear visibility and transparency of their investments. This creates confidence and trust in the services we provide. At all times clients can access their funds and make changes to their portfolio if required. Reports are normally provided quarterly but can also be provided more frequently if requested or on demand. Access to regular portfolio information can also be made available on-line.
Neither NZ DIMS nor NEWTON ROSS handle client funds. Investments are either held directly in the clients’ name or on behalf of clients through the appointed independent custodian. Any payments to or from the custodian are made directly to the clients’ designated bank account.
At no stage are any funds held by NEWTON ROSS or NZ DIMS in trust or otherwise. The clients’ ownership of assets is completely segregated from NEWTON ROSS and NZ DIMS.
Should a client wish to move from NZ DIMS they can do so without having to sell down their portfolio. ICSL can transfer a client’s portfolio at their instruction to another custodial service or register a different adviser to the portfolio if instructed to do so by the client.
Face to face meetings with clients are normally organized on a six monthly basis (some clients prefer them each quarter or annually). Each quarter clients receive a valuation of their portfolio, confirmation of transactions made in the quarter and any recommendations to change the portfolio (such as changes to asset sector weightings).
On an annual basis tax statements are prepared to IRD formats.
We also provide interim updates to clients where environmental or market conditions may require. These will normally be provided by email, fax or telephone.
We also arrange an annual review with clients to check on progress and ensure that situational changes are appropriately reflected in their investment plan and investment mandate.
Clients benefit from our buying power. This includes custodial services, managed funds, securities and foreign currency. All transactions in securities are conducted for the client at wholesale prices.
We have a very clear philosophy to deliver the most cost efficient structures and services we can whilst not compromising on the quality that we demand.