What Clients Say About Us
The feedback we constantly receive from our clients is that we care. It’s all about having empathy and understanding. Clients see that level of care and know that we are doing whatever we can to address their needs.
“Being there for our clients is one of the things we’re know for – we understand who they are, what they need and how we can help them. The most rewarding aspect of being a financial adviser is the chance to see our clients’ dreams being fulfilled.”
With our long history serving the people of Cairns, it is no wonder that the Menico Tuck Parrish team have gained such a strong regional presence. It’s a presence that continues to grow, with the practice receiving almost 100 referrals in 2017 alone from existing clients and referral partners.
Our Financial Services Case Studies
Getting the mix right.
When they first met with Anthony Menico in the late 1990s, they were in their 50s and were looking to retire in the near future. However, they wanted financial guidance to ensure they’d be able to enjoy their retirement lifestyle without eroding their capital.
“Someone recommended Anthony to me, so I decided to go and see him,” David explained. “Barbara and I have been very happy with the success we’ve had with him over the years.”
David and Barbara were experienced DIY investors, with a preference for high-growth investments. However, to help ensure their ongoing financial security, Anthony advised diversifying their investment portfolio. Since then, Anthony has looked after the Quinns’ super investments, which are held in a self-managed super fund (SMSF).
As part of the Quinns’ investment strategy, Anthony recommended adding some stable, income-producing assets into their investment mix. This has allowed them to set up allocated pensions from their SMSF, giving them access to a regular income stream. Anthony also introduced an income buffer strategy so they can continue investing in growth assets, but with greater certainty about their financial security in the face of market volatility.
“Anthony does a lot of in-depth research into different funds and if he wants to make any changes, he’ll call me to discuss it,” David said. “He guides us on which way we should go, and it’s all been very successful. I wouldn’t go to anyone else.”
Surviving the GFC
Like many investors, David and Barbara experienced some anxiety during the Global Financial Crisis, but their investments have since bounced back. David commented:
“We went down like everyone else, but it’s a matter of playing the waiting game when that happens. We hung in there and changed some things around. Anthony has always kept quite a lot of back-up funds in safe defensive options and cash, which gave us extra security. It’s taken a bit of time for it all to come back, but it has.”
As part of his ongoing service to David and Barbara, Anthony keeps a close eye on their investment portfolio, and tops up their cash investments as needed to cover their living expenses. They are still heavily invested in growth assets such as Australian and international shares, and David has some additional investments that he enjoys managing himself.
For David and Barbara, nothing is more important than family. Being financially secure in retirement means they’re able to divide their time between their son and his family in Cairns and their daughter and her family on the Gold Coast.
Both children and their partners are now Anthony’s clients as well, and Anthony has also helped David and Barbara set up individual investment portfolios for each of their four grandchildren.
“Anthony has become a good friend of our family, and has always given us very good advice,” David said. “The money our investments have earned for our family has made us much better off. We’re now in an excellent financial position, which means we can help out our children and grandchildren as well – there’s nothing better.”
Barbara and David Quinn, Burleigh Heads
Care, Compassion and Expertise
A trusted financial adviser can provide not only useful financial strategies, but also comfort and support when you need it most. That’s why Jo Tuck from Menico Tuck Parrish always goes the extra mile for her clients and their families so they can enjoy peace of mind – as well as financial security.
Help at a Difficult Time
Ruth McGregor first met Jo Tuck in 2011. At the time, Ruth’s husband Bob was suffering dementia and needed to enter aged care as Ruth was no longer able to look after him at home. Ruth and her daughter Bev Lynn wanted advice on how best to fund a permanent placement for Bob, and an admissions manager at the aged care facility recommended that they contact Jo for help.
“Jo went through our shares and showed us what finances we had,” Ruth said. “Just coming to see Jo filled me with great confidence.” Bev added: “Jo looked at all our options for financing my father’s admission to the aged care facility to work out which option suited us best financially.”
Jo recommended using assets that were held in Bob’s name to pay the facility’s accommodation bond. She also advised using Bob’s assets to purchase funeral bonds for him and Ruth. By helping to restructure Bob’s finances, Jo helped him reach a position where his tax liability was reduced and he was not required to pay ongoing care fees – while also being eligible to receive the age pension.
Most importantly, Jo helped the family manage the aged care accommodation process as smoothly as possible. This meant they were able to secure a permanent place for Bob in the aged care facility of their choice, without delay.
“It was a great relief to have some good advice from someone that we trusted,” Bev said. “It was a real weight off our minds.”
Making Things Simpler
Sadly, Bob passed away soon after entering care. However, Jo’s ongoing advice was a real comfort to the family during the years the followed. As well as arranging education and investment bonds for family members from Bob’s estate, Jo assisted in sorting out Bob’s remaining financial affairs, which had become more and more complicated over time.
“My father had various shares and also multiple savings accounts with different banks, as he was always chasing the best interest rates,” Bev said. “Jo was a great help in refining everything and making it much easier to manage.”
Jo continued to provide invaluable guidance in 2013, when Ruth moved in with Bev and her husband due to failing health. Since then, Jo has been helping Ruth to devolve her own investments, and the strategies she has recommended have also helped Ruth manage her tax liabilities. Thanks to Jo’s guidance, Ruth now has a far more simplified investment portfolio and takes comfort from the fact that her estate will be passed down to her family according to her wishes in the future. Ruth also has peace of mind in knowing that Jo will be there to give trusted advice if ever her financial needs change.
“Jo is really lovely and she explains things very clearly,” Ruth said. “It’s always a pleasure to come and see her.”