Scope of
Advice

Wealthpoint Limited (FSP678011) holds a transitional financial advice provider license issued by the FMA to provide financial advice services. Our advisers are engaged directly by Wealthpoint Limited and provide financial advice on behalf of Wealthpoint Limited. Wealthpoint advisers provide financial advice on the following types of products:

  • General insurance
  • Life, trauma, health, and travel insurance
  • KiwiSaver
  • Home and business loans

Investments in certain retail financial products Some Wealthpoint advisers provide financial advice on a wide range of financial products and some will provide advice on certain products only. More information can be found about our advisers here.

Commisions, Fees
and Conflicts

Product providers may pay Wealthpoint Limited a commission for any business that is written. This
commission may be based on a percentage of the annual premium, value of mortgage, or value of
contract.

This commission is paid to Wealthpoint who has an agreement with the product provider to
distribute their financial products.

Wealthpoint Limited on-pays the commission received to the relevant Wealthpoint member
business whilst retaining a portion of the commission. Wealthpoint may also pay the relevant
Wealthpoint member business rebates on a periodic basis.

The amount of commission paid and whether there are ongoing commission payments will depend
on the specific financial provider and type of financial product.

Wealthpoint advisers are paid by their relevant Wealthpoint member business and may receive
bonuses depending on the amount and value of financial products they distribute.

Wealthpoint advisers may receive subsidised professional development training from financial
providers.

Wealthpoint Limited and Wealthpoint member businesses may receive payments from product
suppliers and financial platform providers for the amount of business placed with them.

Wealthpoint may receive funding from suppliers to market and contribute at periodic conferences.

Clients may pay fees for investment services provided by Wealthpoint advisers. These fees will be
received by Wealthpoint Limited from product suppliers or platform providers and will on-pay the
fees received to the relevant Wealthpoint member business whilst retaining a portion of the fees.

Clients may also pay third-party fees as a result of recommended investments which may include
fund manager fees, fund administration fees, performance fees and transactional fees. These fees
will be disclosed to clients.

To ensure Wealthpoint advisers prioritise the client’s interests above their own, Wealthpoint advisers
follow an advice process that ensures recommendations are made on the basis of the client’s
goals and circumstances. All Wealthpoint advisers are regulated by the FMA and are subject to a
Wealthpoint quality assurance process for compliance purposes.

Complaints

If you are not satisfied with the financial advice service received by a Wealthpoint adviser, you can make a complaint to that financial adviser through the contact details they have provided to you.

When a Wealthpoint adviser receives a complaint, they are obliged to consider it following the Wealthpoint complaints process:

This includes:

  • Letting you know how they intend to resolve it the complaint. The Wealthpoint adviser may contact you to obtain further information about your complaint.
  • Aiming to resolve complaints within 10 working days of receiving them. If that is not possible, the Wealthpoint adviser will contact you within that time to let you know they need more time to consider your complaint.
  • Contacting you by phone or email to let you know whether the adviser can resolve your complaint and how they propose to do so. If your complaint cannot be resolved, or you aren’t satisfied with the way proposed to do so, you can contact IFSO.

IFSO provides a free, independent dispute resolution service that may help investigate or resolve your complaint, if your complaint has not been resolved to your satisfaction. You can contact IFSO by emailing info@ifso.nz or by calling 0800 888 202, you can also write to them at:

Insurance & Financial Services Ombudsman Scheme PO Box 10-845, Wellington 6143, NEW ZEALAND

Our Duties

Under the Financial Markets Conduct Act, Wealthpoint and Wealthpoint advisers are bound to:

  • give priority to client’s interests
  • exercise care, diligence and skill
  • meet standards of competence, knowledge and skill set by the Code of Professional Conduct
  • meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct.

Wealthpoint and it’s advisers operate high standards of professionalism and are focused on the delivery of high quality advice to all clients.