Keeping The Farm In The Family

22 June 2005

Farmers See Blue Chip's Succession Planning As Key To Keeping The Farm In The Family

Blue Chip New Zealand's first-ever presence at the annual Mystery Creek Fieldays has marked a significant entry by the company into the farming sector with a rural investment model that is quickly attracting interest from the farming community.

Blue Chip's new succession planning solution uses the equity from rural property and invests it in New Zealand's fastest growing residential property market.

Blue Chip General Manager Jonathan Woodhams met with farmers during the event and is positive about the future.

"Many of the farmers I spoke to are thinking about retirement and how they can pass the farm onto their children, but they are not sure about how to best manage this and how to take the first step," he says.

"We are committed to helping New Zealanders plan for their futures. With rising property prices it is becoming increasingly difficult for young farmers to raise equity and purchase rural property. Parents can't afford to give their farms away as in most cases they provide retirement 'nest-eggs'," he says.

Father and son Blue Chip investors, Neil and Gavin Morrison, believe the Blue Chip succession planning model provided a great solution for them.

Clinton farmer, Gavin Morrison, says the investment structure is a long-term plan, not a quick-fix.

"Blue Chip's succession planning model is making the farm work to suit all our needs. Dad is still working part-time on the farm, with the investment financing a new home for my parents' retirement," he says.

Mr Woodhams says the Blue Chip solution is a fair and equitable solution which combines a retirement fund, mortgage repayment method and the ability to ensure additional children receive their inheritance.

Blue Chip New Zealand is a profitable New Zealand company, listed on the New Zealand stock exchange, that is helping many New Zealanders realise their future goals through smart investments.

ENDS

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