Nature and Scope of Moneyplanners Advice Services
Moneyplanners provides personal financial planning and implementation services for individuals, couples and families as follows:
|Comprehensive Financial Planning
|Financial planning is about developing strategies to help you manage your financial affairs and meet your life goals
|Risk Insurance Planning
|We take a risk management approach to creating insurance plans for our clients.
|Mortgage planning and advice
|For your home and residential investment property
|Investment Property Finance
|We can advise on how to structure your investment property and related debt.
|Investment planning and wealth management
|We advise clients on how to structure their investments to meet their financial goals. We also work with you to track and manage those investments over time.
|KiwiSaver Planning and Advice
|We advise clients on the most appropriate schemes and funds to meet their savings and retirement goals.
Product Providers that we may recommend to you
Product Providers that we may recommend:
|Investment Property (referral only)
David Reid Home
Fees and Expenses
The following fees may apply to advice provided by Moneyplanners Ltd:
- The fees charged for our advice and services is based on our hourly rate of $150.00 + GST per hour
- Our initial meeting – no fee as this is a fact-find exploratory session to ensure that we can help you.
- We may charge (once discussed and agreed upon) for subsequent time spent to complete the work in proportion to the time spent at the rate of $150.00 + GST per hour.
These fees will be payable within 10 working days of the plan/recommendations being presented.
The actual fee payable by a client will depend on the nature and scope of the advice or service we provide. We will discuss and agree on the actual fees with you before we proceed and explain how and when they are payable.
Where other costs are incurred in the process of providing our advice and services to you, you will be liable for these costs. However, we will discuss and agree on all additional costs with you prior to incurring them in .
Other costs may include claim servicing beyond the first 10 free hours per insurance claim allotted with the implementation of the recommended insurance plan, which will be calculated at the rate of $150.00 +GST per hour in proportion to time spent.
Commissions and Incentives
Moneyplanners Ltd may receive commission from the providers on whose products we give financial advice (product providers). If you decide to implement insurance, KiwiSaver or mortgage recommendations as part of a financial plan, the product provider may pay a commission to Moneyplanners on implementation. The amount of commission will vary depending on the amount and type of product. Your adviser will provide full details of commission receivable for all product recommendations.
The following commissions may be paid by the product provider:
- Initial commission – a percentage of the value of the product being purchased; and
- Servicing commission –
- Insurance – a percentage of the value of your annual premiums, usually calculated at the end of each month in which your insurance policy renews.
- Mortgage – a percentage of the value of the debt outstanding.
- KiwiSaver – a percentage of the average value of the investment over predefined time periods (typically monthly
Specific commissions payable will be advised to you at the time we provide our advice and before implementation.
We may, from time to time, participate in supplier funded promotional events or training and development. Sometimes we are reimbursed by product providers for our costs related to promotional marketing. We may also receive non-monetary benefits from product providers which may include entertainment and attendance at product provider sponsored functions. These benefits are not generally attributed to any particular type of product or policy.
IMPORTANT: Like many advisers, when Moneyplanners is remunerated by initial commission or brokerage, it is subject to a 2 year responsibility clause. This means that if the product is not in place for a two year period, some or all of the commission or brokerage may be clawed back by the provider from Moneyplanners. In this situation, Moneyplanners reserves the right to charge you for the balance of any advice or implementation fees which have not been covered by commission or brokerage received.
Conflicts of Interest
To ensure that your financial adviser prioritises your interest above their own, we follow an advice process that ensures our recommendations made are based on your goals and circumstances. Your financial adviser undergoes annual training about how to manage conflicts of interest. We maintain a register of conflicts of interest monitored by Moneyplanners Ltd.
If you have a problem, concern or complaint about any part of our service, please let us know so that we can try and fix the problem.
If we cannot agree on how to fix the issue, you can contact our Disputes Resolution Provider: Financial Dispute Resolution Services. They are an approved dispute resolution scheme provider
Financial Dispute Resolution Services Ltd
Telephone: (Call Free) 0508 337 337
Postal Address: Freepost 231075, PO Box 5730, Wellington 6145
Written copy of this information available on request
A written copy of the disclosure information contained on this page is available on request (free of charge)