What's in it for me?
- Resources – access to information and tools from the 10th largest company in the 2007 Forbes Global 2000 list, ING
- Research – high-value reporting with uncompromising objectivity
- Technology – access to OneAnswer, a portfolio management software solution
- Experienced and well trained advisers – best practice compliant
- Clout – an associate with approximately NZ$4 billion in worldwide assets under management (March 2008)
- Expertise – specialists in large and growing portfolio management
Who is ING?
ING New Zealand is part of the global ING Group - one of the world's largest investment, banking and insurance organisations. ING New Zealand currently employs over 400 staff and has offices in Auckland, Wellington and Christchurch. Operations in New Zealand began in 1989 under the name Armstrong Jones. In 1996, Armstrong Jones became an ING company, and changed its name to ING (NZ) Limited in March 2002.
In New Zealand, ING's core business is financial services, and their objective is to help clients meet their financial objectives through the accumulation, investment and protection of assets. Products and services offered include investments and savings, wholesale/institutional investment management, and life insurance. Under an ING-branded joint venture owned 51% by ING Group and 49% by ANZ National Bank, ING New Zealand also manages all the investment and insurance products sold through the ANZ and The National Bank branch networks, and through specialist ANZ financial advisers. The accelerated growth of the last five years has put ING at the top of its industry as the largest manager of retail funds in New Zealand*. ING also holds a leading position in the life insurance and property markets.
The Group’s global head office is in Amsterdam, The Netherlands, with regional operations throughout Europe, North and South America and Asia/Pacific, including Australasia. ING originally stood for International Netherlands Group, which has since been abbreviated to the initials I-N-G. The lion logo symbolises strength, capability and confidence.
Key facts about ING Group
- 10th largest company in the 2007 Forbes Global 2000 list
- Operations in more than 50 countries
- 75 million clients worldwide
- 120,000 employees worldwide
- Approximately NZ$2.3 trillion in assets under management.
*FundSource, September 2007
What is an ING Financial Partner?
In the mid-1990s, ING New Zealand made a strategic decision to support certain independent financial adviser practices and to form an alliance with them, rather than purchase them as many large financial companies were then (and are still) doing. This alliance, which grew to be a loose confederation of owner-operated financial adviser practices, eventually numbered about thirty companies nationally. Bennetts Financial Services was one of the founding members.
The benefit to us at Bennetts is that we still have control over which investments to recommend to our clients, and are always free to recommend investment and insurance products that are competitors to ING . However, as ING is a consistent performer in managed funds products, we feel that being closer to the largest manager of retail funds in New Zealand gives us a window into the global world of investing, a world of experience that ING is happy to further through staff training and exposure to international best practice standards.
In 2005, the New Zealand Government signaled a move to regulate the financial adviser industry, a move that we welcomed as we had already overhauled our business systems and the criteria we used to give advice to our clients. Not only did our company reflect that of a best practice financial advisory practice anywhere in the world, we had also made it mandatory that our advisers either possess or be working towards achieving professional qualifications in giving financial advice.
In 2007, ING New Zealand decided that investors needed some way of distinguishing which financial adviser practices were best practice compliant and best suited to the needs of managing a large or growing portfolio. As a result, they introduced a ‘Financial Partner with ING ' accreditation, recognising businesses ING felt most comfortable working alongside.
A practice using this accreditation is not a legal partner, authorised representative or agent of ING New Zealand or any related party of ING New Zealand.*
Instead it represents a closer working relationship that allows us to experience and learn from the best financial adviser networks in the world. It allows us to be up –to date with new research methodology, understand international trends, and benefit from ING 's prudent investment knowledge.
* In Bennetts Financial Services Limited's case, ING have taken a 20% shareholding.
Why has my adviser been chosen as an ING Financial Partner?
Bennetts Financial Services was the first New Zealand practice to be chosen and accredited as a 'Financial Partner with ING'.
In doing so, ING recognised our commitment to service investors with large or growing portfolios, who need a comprehensive range of skills, personal commitment and advice based on continual research, as well as a set of well-tested asset selection criteria.
We were chosen for our ability to grow our services to meet our clients' needs, our track record (including winning the FinancialAlert Advisory Practice of the Year in 2005), and also our compliance with – and ongoing development of – the best practice systems needed to manage large portfolios and trusts effectively.
This is a prestigious accreditation and one that Bennetts is proud to be associated with.
What are the benefits to you as an investor?
Being associated with one of the world's largest investment, banking and insurance organisations, Bennetts Financial Services has far greater access to resources than a typical financial adviser would. It allows us to continue to offer a standard of service that is ‘more than a match for any big city firm”(FinancialAlert magazine, March 2006 issue). In addition to this, it keeps us up to date with the most thorough research, the best technology and the training our advisers need to stay at the top of their form.
Being associated with the largest manager of retail funds in New Zealand allows us to specialise in private wealth management, an area we have always concentrated on and excelled in. It gives us clout with other financial institutions, fund managers and insurance companies, and brings both our company and our investors closer to where the decisions are made in the New Zealand and global investment marketplace.
Bennetts Financial Services Limited has an arrangement with ING (NZ) Limited whereby we can use the branding “Financial Partner with ING ” as a second tier brand. Bennnetts Financial Services Limited is not a legal partner of ING (NZ) Limited (or any related party of ING (NZ) Limited) (“ING”), an authorised representative or agent of ING .
The information contained in this website was prepared by Bennetts. The opinions expressed are those of Bennetts and not those of ING New Zealand or any member of the ING Group.