ABOUT ME

I am a financial adviser and provide advice on behalf of Wealthbuilders Limited, FSP768951, which is licenced as an Authorised Body by the Financial Markets Authority under the Financial Advice Provider NZ Financial Services Group FSP286965

I am a member of the NZ Financial Services Group

NZ Financial Services Group, Wealthbuilders Ltd and myself are registered on the Financial Services Provider Registry which can be viewed here.  Or insert this address in your browser

.https://fsp-register.companiesoffice.govt.nz/

I have been in the industry for 28 years and am currently enrolled in the NZ Certificate in Financial Services, Level 5.

I WORK FOR YOU

As a Financial Adviser, it is my duty to abide by the Code of Conduct for Financial Service Providers. Although Wealthbuilders Ltd is paid by the providers for the services that I provide, it is you that I work for.

To ensure that I put your interests ahead of my own, I follow a 6-step advice process when providing personalised financial advice which is based on your individual goals and needs:

  1. Getting to know you, your situation, your financial goals and objectives
  2. Gathering relevant data on your current situation
  3. Analysing data and assessing viable solutions
  4. Providing recommendations
  5. Implementing recommendations
  6. Ongoing reviews where relevant, staying on track

I provide all my recommendations in writing so that you have the opportunity to ask any questions you might have before implementing any of my advice.

If you are unhappy with any aspect of my service, we have an internal complaints process that can be viewed on our website: www.wealthbuilders.co.nz/disclosure

SCOPE OF SERVICE

Personal and Business Risk

I provide personalised advice that takes into account your individual circumstances to determine the personal and business risk products that best meet your personal and business goals and needs and which best provide financial security and peace of mind for you and your family.

Under the Financial Advisers’ Act 2008 I am required to provide you with a full advice service, which requires me to undertake a full Fact Find and analysis with recommendations, unless you specifically request a lesser degree of service. Your options are:

Express:- a Limited Scope of Service i.e. a transactional service restricted by you to product advice based on the instructions given to Wealthbuilders by you as to the types, levels and basis of insurance you want implemented

Express+ (plus):- a Limited Scope of Service i.e. the Express service (above) expanded to include limited advice regards the life-risks you should take into account and objectives you might set for yourself in issuing instructions regarding the types, levels and basis of insurance you want implemented

Premier LRC Plan:- a Comprehensive Scope of Service i.e. a service incorporating the collection and analysis of your financial data, an in-depth discussion of your needs and objectives as these relate to life risks and the provision of a full written Contingency Plan covering all aspects of your insurance requirements

Please Note: Wealthbuilders Ltd’s best advice is that all clients complete a Premier LRC Plan prior to implementing any new insurance.

My advice is limited to the following insurance products:

  • Health
  • Life
  • Mortgage Repayment insurance
  • Income Protection
  • Trauma
  • Total and Permanent Disability
  • Waiver of Premium
  • Partnership buyout funding
  • Partnership Protection Planning
  • Business debt repayment
  • Personal guarantee cancellation
  • Shareholder current account repayment
  • Key Person Insurance

My advice is also limited to products provided by the following companies:

  • Fidelity Life
  • Partners Life
  • Accuro
  • NIB
  • Cigna

DUTIES AND OBLIGATIONS

I have duties under the Financial Markets Conducts Act 2013 relating to the way that I give advice. I am required to:

  • give priority to your interests by taking all reasonable steps to make sure my advice is not materially influenced by my own interests.
  • exercise care, diligence and skill in providing you with advice.
  • Undertake a full and comprehensive fact find and advice service unless you agree that you require a lesser degree of advice. (see above – Scope of Service for details)
  • meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Service.
  • meet standards of ethical behaviour, conduct and care set by the Code of Professional Conduct for Financial Advice Services.

 

This is only a summary of the duties that I have. More information is available by contacting me, or by visiting the Financial Markets Authority website at: https://www.fma.govt.nz

COMPLAINTS AND DISPUTES

Internal Complaints Process

If you have a problem, concern or complaint about any part of our advice or service, please tell us so that we can try to fix the problem.  Our internal complaints manager is Barry who can be reached via email at info@wealthbuilders.co.nz  or 09 44 66 057.  Barry will reply to you within 24 hours.

The internal complaints process is:

We will review the complaint and discuss with you how we will resolve this and obtain any additional information if required.

We aim to resolve complaints in a timely manner and will indicate to you the time this complaint may take to resolve.

We will communicate with you in the method you prefer – phone, email or written.

If we cannot resolve this complaint in a manner that is acceptable then you can contact our free independent resolution service (see below).

External Complaints Process

If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints process, you can contact our external disputes resolution service –

The Financial Disputes Resolution Service is Wealthbuilders and my external complaints resolution service which can be contacted at:

Financial Dispute Resolution Service

PO Box 2272, Wellington 6140. L 4, 142 Lambton Quay, Wellington 6011

T:  0508 337 337

www.fdrs.org.nz

If you decide not to use this dispute service, or if we are unable to resolve the dispute, you also have access to The Insurance and Financial Services Ombudsman Scheme.  This service will cost you nothing and will help us to resolve any disagreements.

You can contact The Insurance and Financial Services Ombudsman Scheme at:

PO Box 10-845, Wellington 6143, NZ

0800 888 202

info@ifso.co.nz

PROFESSIONAL INDEMNITY COVER

Wealthbuilders and myself hold PI insurance cover for your protection which is underwritten by:

  • NZI, a business division of IAG New Zealand Limited
    AA- Standard & Poor’s
  • Lumley, a business division of IAG New Zealand Limited
    AA- Standard & Poor’s

DUTIES AND OBLIGATIONS

I have duties under the Financial Markets Conducts Act 2013 relating to the way that I give advice. I am required to:

  • give priority to your interests by taking all reasonable steps to make sure my advice is not materially influenced by my own interests
  • exercise care, diligence and skill in providing you with advice
  • meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Service
  • meet standards of ethical behaviour, conduct and care set by the Code of Professional Conduct for Financial Advice Services

This is only a summary of the duties that I have. More information is available by contacting me, or by visiting the Financial Markets Authority website at: https://www.fma.govt.nz

PRIVACY AND DATA

When a client uses our services, they are trusting Wealthbuilders Ltd with their personal and financial information. We understand this is a big responsibility and work hard to protect their information as per the Privacy Act 1993.

We need to collect your personal information for the purpose of:

  • Providing advice and determine appropriate solutions for your needs
  • Maintaining relevant records and advice reports

In providing our adviser services to you, you consent and give authority for us to obtain your personal information from or disclose your information to, the following parties:

the Regulator and external compliance advisers/personnel or any service provider when implementing any of our recommendations or variations thereof and supplying products to you;

product providers whom we have an agreement with, insurance companies, any claims investigators and claims assessors, ACC, financial institutions and any other persons or agencies deemed relevant;

other professionals such as solicitors, accountants, and financial planners when such services are required to complement this advice, and as requested by you; any other individual or organisation where disclosure is required by law.

In providing adviser services to you, you consent to your information being used by Wealthbuilders Ltd staff and administrators, product providers with whom we have an agreement, reinsurers and other companies for the purposes for which your information was collected.

Under the Privacy Act 1993, you have the right to access and correct the information that Discovery Financial Services holds about you. We will rely on you to keep us informed of any changes to all of your contact details and any other personal information.

If you wish to obtain access to or correct the information we hold about you, please contact us at info@wealthbuilders.co.nz

CONFLICTS OF INTEREST

Commission is considered to be a conflict of interest. See below for details under the heading “Fees and Commissions”. Wealthbuilders Ltd and its advisers may from time to time be offered coffee or lunch invitations, stationery, invitations to conferences or sporting events from product suppliers. Help with product accreditation may also be offered.

We take any perceived or real conflicts of interest seriously and have a policy for dealing with these by avoiding and managing these conflicts so that our client’s interests are placed first and foremost.

FEES AND COMMISSIONS

To ensure that advice remains accessible, Wealthbuilders Ltd does not normally charge an upfront fee for providing personal or business risk insurance advice or for implementing advice if you decide to proceed.

In place of an upfront fee, Wealthbuilders Ltd is paid a commission by the recommended insurance provider from the premium they charge you for your cover. This commission will range from 10% to 196% of the first years premium, depending on which insurance company you take out cover with.

Wealthbuilders Ltd will then receive a servicing commission between 2.5% to 27.5% of the annual premium for the Iife of the policy. I will confirm the amount of commission Wealthbuilders Ltd will receive when I provide my recommendation to you.

Wealthbuilders Ltd may charge a fee for providing Partnership Protection Planning advice or specialised Key Person advice which will be calculated at $150 per hour plus GST.

From time to time Wealthbuilders may receive a fee from a specialist adviser for the referral of a client or for providing specialist advice to other professional advisers.

These commission payments are used to pay the ongoing management expenses of Wealthbuilders Ltd such as:

  • Rent
  • Research
  • Fees and Subs
  • Wages
  • Communications
  • Internet
  • Stationary
  • Accounting
  • Compliance
  • Fees for specialist advice from other professional advisers.

I personally receive a salary of $500 per week.