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 decided to re-brand 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 to work as a team to be successful. Climbing mountains alone is dangerous; likewise making your own investment decisions can also be dangerous. An investment that looks excellent to you may not be so good when discussed with an experienced adviser who is impartial and refers to high quality independent 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 expedition just as you need to be when you invest your money. Detailed and well thought out planning that results based on your personal objectives is essential for both mountaineering and investing.
When climbing, there can be scary moments. You may need to hunker down and ensure you are safe from the elements. At times there will be poor visibility, or gale force winds. Until the weather clears you don’t know where you are going. You must be patient and not panic. Financial markets are constantly changing. At times of 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 into an abyss.
When you reach the summit, or attain your financial objective, the view is usually spectacular. You will have a wonderful sense of achievement and great feeling that you stayed committed to your 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. When it gets tough they turn back and miss out on the view and the thrill of achieving their goals.
Mr and Mrs Lyford did not purchase Creating Wealth, as some clients thought when 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 lifetime objective of developing and improving 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!
PS After enjoying their retreat and Mt Lyford for more than ten years Alison and Richard fortuitously sold their chalet just one year before the Kaikoura earthquake. The epi-centre was very close to Mt Lyford. The log chalets generally stood up well to the major shake but access to the village from both Christchurch and Wellington became problematic.