Disclosure

DISCLOSURE

LICENSING INFORMATION

Stafford’s Wealth Management Limited (FSP775291, trading as Stafford’s) holds a licence issued by the Financial Markets Authority to provide financial advice.

NATURE AND SCOPE OF THE ADVICE

Stafford’s provides advice to our clients about cashflow and retirement planning, charitable gifting strategies and about investments. We provide advice in relation to direct equities and bonds, KiwiSaver and managed funds. We also provide advice relating to risk products such as Life Insurance.

We are not restricted in respect to the financial products that we are allowed to provide financial advice on:

  • For investment we provide advice on a wide range of NZ and foreign managed investment products & accounts, listed equities, and government & corporate bonds. We have relationships with Milford and Consilium.
  • For charitable gifting strategies we may utilise donor-advised funds, community foundations or bespoke charitable trusts. We have a relationship with charity The Gift Trust to enable our clients to use their charitable accounts.
  • For KiwiSaver we have relationships with KiwiWRAP, Booster, Generate and Milford. We are not restricted to these schemes and are permitted to consider other options as may be most appropriate for our clients.
  • For all products and accounts we offer Socially Responsible Investment options for interested investors.
  • For Insurance we have relationships with Cigna, AIA, Fidelity Life, NIB and Asteron. We are not restricted to only these providers and are permitted to consider other options as may be most appropriate for our clients.

FEES OR EXPENSES

For investment advice, Staffords will typically charge a fee for any financial advice and investment planning implemented for the client.

  • We do NOT charge a fee for initial consultation meetings.
  • We do charge a fee for the preparation of a Financial Plan.
  • We do charge for managing personal investment portfolios and providing ongoing advice and support. Our maximum fee is 1.20% (+ GST) per annum of the value of the assets under management, with reductions for larger or simpler accounts.
  • We do charge for managing charitable donor-advised investment portfolios and providing ongoing advice and support. Our maximum fee is 1.00% (+ GST) p/a.
  • We do charge for managing KiwiSaver investment portfolios and providing ongoing advice and support. Our maximum fee is 0.75% (+ GST) p/a.
  • We do not charge for Insurance advise however we are remunerated by an upfront commission on ongoing management income trail.

In addition to our fees various external parties may charge for their services where utilised by our clients.

Specific fees that relate to our proposed scope of service for you will be fully detailed at the time a recommendation is made.

CONFLICTS OF INTEREST AND INCENTIVES

As a fiduciary, we do not have any perceived or actual conflicts of interest with any new clients.

We have some existing clients currently invested in a KiwiSaver scheme which pays us a small amount of commission in lieu of an advice fee.

COMPLAINTS HANDLING AND DISPUTE RESOLUTION

Any complaints received will be treated seriously and with respect, with all reasonable steps being taken to understand and resolve the complaint in a manner that is satisfactory to you.

We will contact you by telephone within one week to discuss the complaint with you. If you are comfortable discussing the complaint over the telephone, we will attempt to resolve the complaint during this initial call. If you would prefer, we will meet with you in person to discuss the complaint. We will endeavour to ensure that this meeting takes place within one week of receipt of the complaint, and at a location acceptable to you. We will inform you prior to this meeting that you are welcome to bring a support person to the meeting if you desire.

During our initial telephone call or meeting, as applicable, we will go through a process to:

  • identify the exact issue;
  • identify why you believe it is an issue and the impact on you;
  • identify what outcome(s) you’re seeking; and
  • attempt to find an outcome that is agreeable to us both.

If our internal process to deal with the complaint is successful, we will document the outcome in the Complaints Register and send you confirmation by email or post.

If the complaint cannot be resolved, you can contact Financial Services Complaints Limited

(FSCL) free of charge. We will cooperate fully with them and their handling of the complaint.

FINANCIAL SERVICES COMPLAINTS LIMITED

Website:

fscl.org.nz Email:

info@fscl.org.nz complaints@fscl.org.nz

Phone: 0800 347 257

Postal address: PO Box 5967, Wellington 6140

DUTIES INFORMATION

Stafford’s has duties under the Financial Markets Conduct Act 2013 relating to the way advice is provided.

We are required to:

  • Give priority to your interests by taking all reasonable steps to ensure 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.

DUTIES INFORMATION

Stafford’s Wealth Management Limited (FSP775291, trading as Stafford’s) is the Financial Advice Provider.