Licence Status & Conditions
Financial Services Auckland Ltd  (FSP188064, trading as Financial Services Auckland & Waikato) holds a licence issued by the Financial Markets Authority (FMA) to provide financial advice.

Nature & Scope of the Financial Advice
Financial Services Auckland Ltd provides advice to our clients about investments, wealth management, kiwisaver, mortgages and personal insurances.

We provide financial advice about products from a large range of providers .

Any financial advice provided on our behalf will take account only of the information you have given us about your particular needs, financial situation or goals.

Fees, expenses or other amounts payable for our financial advice
When advising on Investments, Wealth Management or KiwiSaver our services are paid for on a fees basis. We do not charge any fees, expenses, or any other amounts for any Insurance advice. Occasionally we charge a fee for Mortgage advice.

If the financial adviser recommends any financial product or advice, you will be informed of the respective costs or fees.

For Investment and Wealth Management services, the initial meeting is free however a charge of between $500-$2500 + GST will be charged for a personalised financial plan. This cost is dependent upon the complexity of the plan and will be discussed and agreed with the client during the meeting.

Upon implementing our Investment advice, an annual monitoring fee will apply. The fee amount is dependent on the size of the investment portfolio, reducing as the portfolio value increases. This will be discussed with the client before portfolio implementation.

Conflicts of interest & commissions or other incentives
For personal insurances and mortgages, Financial Services Auckland Ltd and the financial adviser receive commissions from the insurance companies and lenders. If you decide to take out insurance or a mortgage, the insurer or lender will pay a commission to Financial Services Auckland Ltd and your financial adviser. The amount of the commission is based on the amount of the annual premium or the amount of the loan. Kiwisaver companies pay either an annual fee based on the kiwisaver fund value, or a combination of an initial commission and an annual fee to Financial Services Auckland Ltd and your financial adviser.

To ensure that our financial advisers prioritise the client’s interest above their own, we follow an advice process that ensures our recommendations are made on the basis of the client’s goals and circumstances. All our financial advisers undergo annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme every 2 years by a reputable compliance consultancy firm.

Internal complaints process

If you have a problem, concern, or complaint about any part of the financial advice you have received from us, you may contact us using any of the following means:

in writing:

Michael Beuvink, Complaints Officer
Financial Services Auckland Ltd
PO Box 3434, Cambridge

by telephone: 09-4195440
by email: info@fsal.co.nz

When we receive a complaint, we will consider it following our internal complaints process:

• We will consider your complaint 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.

Dispute resolution process

If our internal complaints process does not resolve your complaint to your satisfaction, you can contact our external independent dispute resolution scheme.  This service is free and may help investigate or resolve the complaint.

We are a member of the Financial Services Complaints Limited’s approved dispute resolution scheme.  You can contact Financial Services Complaints Limited at:

Financial Services Complaints Limited

Level 4, Sybase House, 101 Lambton Quay

Wellington 6011

Telephone: 0800 347 257 (freephone if within New Zealand) or +64 4 472 3725 (if calling outside New Zealand)

Postal: P O Box 5967, Wellington 6140

Email: complaints@fscl.org.nz

Website: http://www.fscl.org.nz/

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Our Duties

Financial Services Auckland Ltd and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice. We are required to:

• give priority to your 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 you with 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)
• 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 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 https://www.fma.govt.nz.

The Code of Conduct standards can be read here: https://www.fma.govt.nz/assets/assets/code-of-professional-conduct-for-financial-advice-services.pdf.

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