Well it’s hard to believe that 2012 is over so quickly. We again want to thank you for the opportunity to work with you. We still love coming to work and doing what we do, and long may that continue. In a large part that is because of the frequently changing and interesting things that we work on with you.

There have been many highlights in 2012, including some good wins over the IRD. We also continue to do a lot of interesting international assignments as well.

Covisory Partners has two main aspects to its business: the first thing being advisory which are generally one off assignments either for individuals / families or other professionals. The second is private clientele, being a combination of taxation, structuring, succession (both wealth and business) and increasingly private / family office.  2012 has shown us that our clients appreciate our ability to look after or oversee all aspects of their financial affairs, right from paying bills to ensuring their children are educated to be able to manage the significant inheritances they will receive.

2012 has also seen a lot of work around charitable giving. Clients are becoming more interested in philanthropy and the aiding of charities they feel a connection with both now and in the future. For a large number, they don’t want to see all of their wealth go to their children upon their deaths, so working out how the remaining wealth will be applied to charitable purposes is often not as easy as it sounds as there are more permutations than you would realise.

The aim for 2013 is to continue to develop the private clientele area into a true family / private office offering.

The team at Private Accounting, our associated Chartered Accounting practice, have also had a very good and enjoyable year. With Megan at the helm we have added Philippa and Michelle to the team so it is going from strength to strength.

The economy did not improve like we had hoped or expected in 2012, although the outlook for 2013 is better with a slow but continued lift in overall economic activity. Many clients also remain heavily invested in cash, waiting for some stability in the world financial markets and needing more confidence in order to be encouraged to invest their funds away from cash. 2013 will likely be another tough year for investors wary of risk.

We look forward to working with you all again in 2013. In the meanwhile have a safe and enjoyable Christmas and holiday with your families. There is still nothing better than the Kiwi Christmas Break.