Important information about deVere New Zealand Limited

 

FINANCIAL ADVICE PROVIDER (FAP) LICENCE INFORMATION 

deVere New Zealand Limited FSP502166 holds a FAP licence issued by the Financial Markets Authority to provide financial advice:
Wholesale and/or generic financial adviser services.

 

NATURE AND SCOPE ENGAGEMENT

deVere New Zealand and our financial advisers provide financial advice in relation to Qualified Recognised Overseas Pension Scheme (QROPS), Self Invested Pension Plan (SIPP), KiwiSaver, managed funds, life insurance and health insurance, some advisers specialise in certain areas, such as life insurance and health insurance. We generally provide comprehensive advice and prefer to do a full fact find, if circumstances permit occasionally, we will provide limited advice.

We only provide financial advice about products from certain providers:

• For life and health insurance, we work with a wide range of NZ-based providers.  
• For KiwiSaver and investment products, we provide advice on a wide range of KiwiSaver products and a range of NZ based managed fund products.
• For QROPS & SIPP we provide advice on a wide range of pension providers in New Zealand and in the UK.

 

Financial and Investment Planning Providers

Health and Life Cover Providers

AIA Group

Asteron Life New Zealand Limited

nib Health Funds

Partners Life Limited

 

HOW WE OPERATE

To ensure that our financial advisers prioritise the client’s interests above their own, we follow an internationally recognised professional advice process to ensure our recommendations are based on the client’s goals and circumstances.

CONDUCT

deVere New Zealand 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

 

REMUNERATION

deVere New Zealand Limited does not charge fees, expenses or any other amount for the financial advice provided to its clients. If advice is put into effect, then the FAP receives a fee and/or commission based on the business you place with the providers we work with.

For QROPS & SIPP advice that is implemented deVere New Zealand Limited will charge a fee and/or commission. These fees and/or commission vary between products and we will outline the fees in the scope of the service document and/or the statement of advice.

For investment advice that is implemented deVere New Zealand Limited will charge a service fee and/or commission. These fees and/or commission vary between products and we will outline the fees and/or commission in the scope of service document and/or the statement of advice.

deVere New Zealand may at their discretion charge a fee and/or commission for planning and implementing the investment advice provided to a client where the hours worked exceed the estimate included in the scope of service. We will outline the fees in the scope of service document and/or the statement of advice.

For life & health insurance advice, deVere New Zealand Limited will charge a fee and/or commission for the financial advice provided to a client. These fees and/or commission vary between products, we will outline the fees in the scope of service document and/or the statement of advice.

deVere New Zealand Limited may charge a fee and/or commission for the financial advice provided to a client where a client cancels a life or health insurance policy within two years of inception. Whether a fee and/or commission will be charged and the manner in which it will be charged will be advised when the advice is provided to the client. This fee and/or commission will be payable by the client before the 20th of the month after the policy is cancelled. This is also referred to as a clawback.

 

CONFLICTS OF INTEREST

We take any perceived or real conflicts of interest very seriously and have a dedicated policy for dealing with such issues whereby we avoid, disclose and/or manage any conflicts so that our client’s interests are placed first and foremost.

We undertake a compliance audit, and a review of our compliance programme annually by a reputable compliance adviser. 

All our financial advisers undergo annual training about how to manage conflicts of interest. We maintain registers of conflicts of interests, and the gifts we receive. deVere New Zealand monitors these registers and provides additional training where necessary. deVere New Zealand performs an annual review of our compliance programme.

 

COMPLAINTS HANDLING AND DISPUTE RESOLUTION

If you are not satisfied with our financial advice service you can make a complaint by emailing [email protected], or by calling 09 489 6380.

You can also write to us at: 
Suite 2, Level 5
507 Lake Road
PO Box 33916
Takapuna
Auckland
0622 
New Zealand

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 as quickly as possible. If we can’t, we will contact you at 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 Insurance & Financial Services Ombudsman Scheme (IFSO). IFSO provides a free, independent dispute resolution service that may help investigate or resolve your complaint, if we haven’t been able to resolve your complaint to your satisfaction. You can contact IFSO by emailing [email protected] or by calling: 0800 888 202. You can also write to them at:

Insurance & Financial Services Ombudsman Scheme Inc.
L2, Solnet House
70 The Terrace
Wellington, 6143
http://www.ifso.nz

 

DEVERE NEW ZEALAND LTD PRIVACY / DATA COLLECTION

To give our clients the very best advice we need to collect personal information about their financial circumstances. In the digital age that we live in, we take our responsibilities under the Privacy Act 2020 very seriously. Some key points: 

• We only collect information relevant to the nature and scope of the advice we are providing:
  • The accuracy of this information to our advice is critical, this is where we need your help
• Once collected we will protect any client information. 
• You can request any personal information or ask for it to be amended at any time. 
• We will only share information where it is necessary to do so in providing the agreed services provided. If this is not part of our normal business, we would only consider this with your express consent to do so. However, there are some third parties you may not be aware of that we may need to share your information with such as:  
  • Financial Markets Authority (FMA) – the Regulator of financial services in New Zealand 
  • External compliance agencies we may engage for quality assurance purposes. 
• We have policies and procedures for dealing with any data breaches as soon as possible. 
• Any information no longer needed will be destroyed securely. 

You can find out more by visiting our Privacy Policy on our website: https://www.devere-newzealand.nz/privacy-policy

 

ASK US – WE ARE HERE TO HELP

We welcome any questions or queries you have in relation to this important information but more importantly, we look forward to working with you. 

Phone: 09 489 6380         Email:[email protected]