Financial Advice Disclosures

New Zealand Funds Management Limited (FSP27062, trading as NZ Funds Private Wealth) holds a licence issued by the Financial Markets Authority to provide a financial advice service.

NZ Funds Private Wealth provides integrated financial advice, financial planning and portfolio management services relating to the Portfolios and Strategies making up the:

• NZ Funds Active Series;
• NZ Funds KiwiSaver Scheme;
• NZ Funds Managed Superannuation Service;
• NZ Funds Wealth Builder; and
• NZ Funds Income Generator. 

We also provide financial advice relating to the NZ Funds DIMS.

NZ Funds Private Wealth does not generally provide financial advice on products from any product provider. However, some clients may have investments in financial products from other product providers. Where this is the case, we may provide advice on those products as part of providing financial advice to these clients. 

Our investment team manage the Portfolios, Strategies and Funds our clients invest in. 

Our Private Wealth financial advisers provide comprehensive financial advice and wealth planning services, using the Portfolios and Strategies that we manage to build investment portfolios tailored to each client’s unique circumstances and goals. 

Our Private Wealth financial advisers and nominated representatives also provide limited scope financial advice, which is generic advice based on what is usually suitable for people in a particular group based on common characteristics.  

We may charge fees to clients for the financial advice we provide to them, and we charge investment management fees to the Portfolios and Strategies that we manage, which make up client investment portfolios.

Financial Advice Fees

NZ Funds Private Wealth may charge the following fees for financial advice: 

• an initial advice fee for the time involved in meeting a client, obtaining all necessary information, and preparing and presenting a financial strategy;
• an ongoing financial advice fee for the provision of ongoing financial advice services; and
• where requested by a client, undertaking a specific assignment for which an agreed consultancy fee may be charged.

NZ Funds DIMS

There are no additional fees for using the NZ Funds DIMS.

Investment Management Fees

Client portfolios are made up of investments in the Portfolios and Strategies managed by NZ Funds. NZ Funds charges these Portfolios and Strategies fees for providing management and administration services to them.

The Portfolios and Strategies also invest into wholesale trusts that are managed by  
NZ Funds. NZ Funds charges some of these wholesale trusts performance-based fees that are based on the net asset value of each Portfolio. The actual performance fees will depend on the performance of the relevant wholesale trust and will vary from the estimates. 

NZ Funds Private Wealth, and anyone who gives financial advice on our behalf, have legal duties relating to the way that we give advice. We must:

• give priority to our client’s interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests;
• exercise care, diligence, and skill in providing the advice;
• meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice); and
• meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we treat you as we should, and give you suitable advice).

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

Our Private Wealth financial advisers and nominated representatives are remunerated by way of a base salary and bonus and do not receive any other forms of remuneration for providing financial advice. Where our Private Wealth financial adviser or nominated representative refers a client to another provider, for example an insurance or mortgage provider, we may be paid a referral fee. 

A conflict of interest does arise as our Private Wealth financial advisers and nominated representatives generally only advise on NZ Funds products. 

To ensure that our Private Wealth financial advisers and nominated representatives prioritise each client’s interests above their own, they follow an advice process that is designed to ensure their recommendations are suitable for the client. NZ Funds Private Wealth also:

• has a quality assurance programme in place to monitor the services and financial advice our Private Wealth financial advisers and nominated representatives provide;
• actively monitors compliance with our conflicts policies and procedures; and
• provides training to all NZ Funds Private Wealth financial advisers and nominated representatives about how to manage conflicts of interest.

Even with the best intentions, complaints sometimes arise.

NZ Funds is committed to ensuring that all client complaints are handled and resolved in a professional, fair and timely manner in accordance with our Client Complaints Policy and associated procedures.

If you are not satisfied with our financial advice services, you can make a complaint by contacting us at:

New Zealand Funds Management Limited
Level 16, 21 Queen Street
Private Bag 92163
Auckland 1142
Attention: Chief Client Officer

T. 09 377 2277 or 0800 377 2277

When we receive a complaint, we will consider it and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint. 

We aim to resolve complaints within 10 working days of receiving them. If we can’t, we will contact you within that time to let you know we need more time to consider your complaint. 

We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so. 

If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact Financial Services Complaints Limited (FSCL), an approved dispute resolution scheme, who provide a free, independent dispute resolution service that may help investigate or resolve your complaint. You can contact FSCL at:

Financial Services Complaints Limited
PO Box 5967
Wellington 6140

T. 04 472 3725 or 0800 347 25

www.fscl.org.nz

Request a call and we’ll be in touch.