JBWere have been anointed as Momentum Waikato’s new investment partner, taking on half of the community foundation’s investment portfolio.
Momentum Chief Executive Kelvyn Eglinton says that after seven years it was time to review the investment partnerships for the regional endowment fund in its care. To date the role had been split between Craigs Investment Partners and Forsyth Barr, with the outcome of the re-evaluation being the replacement of the latter with JBWere.
“We wanted to invigorate the competitive dynamic between our professional advisors,” says Kelvyn.
“JBWere’s investment methodology differs from the two other firms, which will provide that tension we are looking for.
“They also have a strong specialised Philanthropy Services arm, which can add value to our work in terms of access to research, networks, best practise, trends etc.
“This move is very much driven by what JBWere specifically has to offer, so we are really looking forward to working with them, while at the same time continuing to also get great results with Craigs.
John Bodie, a JBWere Private Wealth Adviser, says the firm had been observing what Momentum has been doing for the Waikato for some time and like what they have seen.
“We see Momentum as pretty progressive,” says John, “particularly around the project work being undertaken for the Waikato community but also looking into how to develop for the future and what that may look like”.
“We felt we could assist in a variety of ways, especially through our Philanthropic Services and including where investors require Momentum’s investment services and where we can connect Momentum to opportunities and access to research and impact investments.
“We certainly see ourselves as being in partnership with Momentum, it’s a complementary relationship, working together to find out what’s achievable,” says John.
The markets have been challenging over the last year or so, but as they rebound, this new investment partnership with JBWere means Momentum is well placed to continue to ‘play the long game’, as it creates ‘a better Waikato for everyone, forever’.