I’m Richard Clark, the founder of Become.nz and co-founder of Medcapital.
I’d love to share with you a little of why we do what we do.
We’ve been successfully working with doctors to grow their wealth and noticed that junior doctor households had the same assets as the average full-time working, home-owning New Zealand household. But while junior doctors made plans to grow their wealth, most New Zealanders in the exact same financial position did not think wealth services could possibly apply to them. When told outright that if they had $120k of household income and $150k of spare equity we could help make a difference of hundreds of thousands – up to millions – of dollars to their future wealth, people were surprised. It’s human nature – we always seem to think we have to wait until the next stage in our lives, or until we feel we have got to a point of comfort, to plan for the future. In fact the opposite is true:
The earlier you start the less risky, the easier it is, and the fewer assets you need to make a significant difference.
Doctors know this. Our first company, Medcapital, is Australasia’s leading wealth building service for health professionals. We grew Medcapital out of Australasia's largest doctor recruitment and wellbeing provider. As part of looking after the people that look after us, we needed to design a wealth service that was conservative, long-term, and would meet the needs of a very discerning customer base. We started off with top-performing traditional wealth and investment approaches, but soon found that we needed to have the same level of senior ability in all aspects of a financial life, so we built our mortgage broking and insurance advisory to be the best in the business. Then, we added property investment and management expertise, and as doctors often run their own practices, business financing and growth specialists. Before we knew it we had created the world’s first all-of-financial-life dream team structure.
As we created this new model we also took inspiration from the people we were serving. Doctors often run collaborative round table discussions on patients to get the best outcomes. These surface a range of ideas and create a consensus that takes into account risks and opportunities from many perspectives. We started using this process in 2018 and haven’t looked back.
We track our results and currently the average increase in lifetime wealth we have created for Medcapital clients is over $3m.
One of the biggest factors in this number is that we help doctors get a plan while they are early in their careers. We know that most Kiwis could benefit from this approach too.
It's an exciting opportunity to grow the future choices, comfort, and security of New Zealanders. If we can get more Kiwis to know that every ten years they wait to start wealth planning could cost them a million dollars in future, we could change the financial future of more than just doctors. Getting started early is the key – we call it the 'power of time', and I think most New Zealanders are already familiar with the idea thanks to the compound growth of KiwiSaver contributions over time.
So we set out to start Become.nz, using the same methods, experience and key team that have worked for doctors we work with, to offer this service to all New Zealanders.
If you’d like to learn more, we’d love to chat. Get in touch with our team today to see how we could help. If you’d like to chat to me directly, drop me an email here. Looking forward to talking.
Founder and CEO
Become.nz and Medcapital
Richard started in the financial world early, buying his first property while still at high school. He was working part time and pulled together all his savings to buy a small investment property with his mother. They say failure is the best teacher – Richard's first property investment was terrible. It taught him a lot about the need for high-quality investments, carefully chosen and the importance of a track record and long term plan. Many years, properties, and lessons later Richard decided to to share some of the lessons he'd learnt.
He co-founded Medcapital with Dr Sam Hazledine and after building a unique business structure, he launched Become.nz to offer the same service to all New Zealanders.
He believes that opportunities are everywhere. That with the right mind-set and actions you can seize opportunities and create a legacy. The team at Become.nz aim to help people be more confident with their finances, to meet and exceed their financial goals, and uncover new opportunities along the way.
Away from work Richard loves going to the gym and spending time in Queenstown with his family. He has a Bachelor of Business Studies from Massey University with a Major in Finance and Minor in Valuation and Property Management.