What you need to know….
G3 Financial Freedom Limited (FSP16205) holds a licence issued by the Financial Markets Authority (FMA) to provide financial advice services
The services we provide
We provide advice to our clients across a wide range of financial planning areas.
Products we can advise on
- Personal and group insurance covers (life, disability, income protection, trauma, health)
- Managed investments
- Superannuation Schemes
- KiwiSaver Schemes
Product providers we may recommend
- Accuro Health Insurance
- Asteron Life Limited
- Chubb Life (previously Cigna NZ)
- Consilium NZ Limited
- Fidelity Life Assurance Company Limited
- Integral Master Trust
- i-Select Superannuation Scheme
- Lifetime Asset Management Limited
- Partners Life Limited
- Resolution Life (previously AMP)
- Synergy Investments
Our Duties and Other Information
G3 Financial Freedom Limited, and anyone who gives advice on our behalf, have duties under the Financial Markets Conduct Act in relation to the way we provide advice. The following is only a summary of the duties we have however, more information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz
We are required to:
- Give priority to your interests by taking all reasonable steps to ensure our advice is not influenced by our own interests
- Exercise care, diligence, and skill, in providing you with our advice
- Meet the standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (which are designed to ensure that we have the expertise needed to provide you with advice)
- Meet the standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to ensure we treat you as we should, and to give you suitable advice)
Our fees and charges
The actual fee charged to you will depend upon the nature and scope of the advice or service we provide. We will discuss and agree the actual fees with you before we proceed, and we will explain how they are payable.
Whilst an initial meeting may not be charged for, we reserve the right to do so.
Where a consultancy fee is to be charged for this meeting, this will be disclosed to you during that initial meeting, or will have been disclosed prior to the meeting, and agreement obtained from you. This consultancy fee may be charged for specific complex areas where adviser expertise is needed e.g. UK pension transfer guidance. The fee will be based upon an hourly rate of between $200 to $400+ GST per hour. The actual rate disclosed to the client will depend upon the complexity of the advice required during that meeting and the expertise of the adviser.
For a comprehensive Financial Plan, Retirement Plan, Investment Plan, Insurance Plan, UK Pension Transfer Review Plan and Australian Superannuation Transfer Review Plan, we will charge a fixed fee (subject to GST) for this planning and to provide a written report. An invoice is provided to you at the same time we provide your Plan (also known as a Statement of Advice) and will be required to be paid within 7 days. These start from $1500 + GST onwards, please refer to Plans & Pricing on our website.
For ongoing advice, G3 will charge either on an hourly rate or fixed fee basis, or as a percentage of the investment funds under management. All such fees are disclosed within your written Plan, which is specific and tailored to the advice provided to you. Your agreement is obtained for these fees to be charged before anything is implemented.
G3 Financial Freedom Limited may receive commissions from insurance providers, when life and disability covers are established for you. These commissions vary depending upon the type of cover and will be disclosed to you in your Plan. Commissions may be disclosed in either dollars or as a percentage. G3 may charge a fee where a client cancels a life, disability or health insurance policy within two year of inception. Whether a fee will be charged and the manner in which it will be charged, will be advised when the advice is provided to the client. The fee will be charged by way of an invoice from G3 within 2 months after the policy is cancelled.
Some KiwiSaver Schemes pay fees to G3, which will be disclosed to you within your Plan, specific to the advice we recommend to you.
If there are other costs incurred in the process of providing our advice and services to you, e.g. incidentals such as travel costs and photocopying, you may be liable for these however, we will discuss and agree any such additional costs with you prior to incurring them.
Conflicts of Interest (if any)
Your interests are our priority, and we have an advice process that we follow to ensure we put your interests above our own. This means that our advice and all recommendations we share with you, are made on the basis of helping you achieve your goals as effectively and efficiently as possible, and that are based upon your circumstances and what is important to you.
All our financial advisers undergo training in relation to how to manage conflicts of interest.
All fees and commission are received by G3 Financial Freedom Limited, and not by the financial adviser individually. Our directors, who are financial advisers, and are 50% owners of G3 Financial Freedom Limited, receive shareholder drawings from the business, and our one employed financial adviser is a salaried employee. No additional incentives or bonus payments are made to any adviser. The Directors of G3 Financial Freedom Limited may receive a dividend should one be declared.
G3 Financial Freedom Limited has business relationships with various product providers. For personal and business insurance covers, these providers may pay commission to G3 Financial Freedom Limited (not the individual financial adviser) for any business that is set up for you. All such commission is disclosed to you in writing and agreed with you prior to establishing any covers on your behalf.
G3 Financial Freedom Limited has a Service Level Agreement with Consilium NZ Limited (Consilium). Consilium is a private company providing access to institutional pricing on investments, investment advisory research, client management systems and business mentoring and support services to financial advisers. We have chosen this relationship for the benefits that Consilium provide G3 and its clients. G3 is not ‘tied’ to Consilium and there are other investment providers that G3 advise on, alongside Consilium. The advice we provide is based upon your best interests, not that of G3 nor its advisers. The relationship we have with Consilium, effectively allows us to provide you with access to some of the world’s best investment solutions, which are evidenced based, low cost, robust and highly diversified.
Complaints handling & disputes resolution
If you are dissatisfied with our financial advice service, you can make a complaint by emailing email@example.com by calling 07 571 5333 or writing to us at PO Box 13563, Tauranga 3141.
Upon receiving a complaint, we make every effort to resolve your complaint at the earliest opportunity. We will consider it, following our internal complaints process:
- We may need to contact you for further information
- We aim to acknowledge your complaint within one week
- We aim to resolve your complaint satisfactorily by providing you with a response within 21 days
- If this is not possible, further communication may take place, either formally or by direct discussion with you
- If we are unable to resolve your complaint, we will provide you with details of our Disputes Resolution Service, which is Financial Services Complaints Ltd (FSCL) – a Financial Ombudsman Service. FSCL has been approved by the Minister of Consumer Affairs under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. FSCL’s service is free of charge to you
You can contact FSCL at: PO Box 5967, Lambton Quay, Wellington 6145 Email firstname.lastname@example.org Tel 0800 347 257