Important information

LICENSING INFORMATION

SeventyTwo Wealth Partners Limited FSP1011325, holds a licence issued by the Financial Markets Authority to provide financial advice.

CONTACT DETAILS

SeventyTwo Wealth Partners Limited is the Financial Advice Provider.

You can contact us at:

Phone: 021823152

Email: matt.caughey@72wealth.co.nz

Address:

c/o 10 Bermuda Rd, St. Heliers, Auckland, New Zealand.

NATURE AND SCOPE OF ADVICE

SeventyTwo Wealth Partners Limited advisers provide advice about:

• Managed Funds

• KiwiSaver

• Fixed Interest

We provide advice in relation to products provided by the following companies:

• Milford Asset Management

• Pathfinder Asset Management

• Kernel Wealth

• NZX Wealth Technologies (various investment products)

ADVICE PROCESS

We use the following advice process to ensure the advice we give is customised to your needs:

1.      Understand your goals and current situation

2.      Identify and explain your options

3.      Create a personalised financial plan

4.      Present our recommendations

5.      Implement the agreed strategy

6.      Annual Review and adjust your plan as required


 

FEES AND EXPENSES

Investment Advice fees

KiwiSaver Initial Advice Fee: A plan preparation fee of $150+ GST. Plan fees will be agreed upon before commencement.

Customised Comprehensive Wealth Plan: A plan preparation fee of $1,000 + GST or $250 per hour + GST whichever is the greater. Plan fees will be agreed upon before commencement.

Ongoing KiwiSaver advice fee: We charge a monthly fee for running a portfolio, which is calculated as a percentage of funds under management (your investment balance). These vary depending on size and complexity of the portfolio, but portfolio fees are up to .5% p.a +GST and the platform fee (Customised Wealth Pan) is up to .25% p.a (no GST). In some cases Fund Managers will pay you an annual rebate that can offset some of this fee.

Specific fees payable by you will be provided to you in a Statement of Advice before you agreed to implement our advice and receive our services.

Brokerage Fees

We do not collect broker fees as income but there may be broker fees that you have to pay if you want to transact any direct listed equities or bonds on an exchange. The indicative cost will be advised to you at the time before transacting. It will depend on factors such as size of the trade, if research from an external party is required and the exchange that it would be traded on.

CONFLICTS OF INTEREST

Typically, when it comes to investment portfolios, we avoid any commissions from product providers as we feel that that is a conflict of interest. Any commissions received in a portfolio run by SeventyTwo Wealth Partners Ltd are refunded back to the investor.

However, some KiwiSaver providers may pay us an upfront and ongoing fee for the service we provide you.  If we will be receiving any income from any provider we recommend, we will advise you of this at the time we provide you with financial advice.

From time to time, product providers may also reward us for the overall business we provide to them. They may give us tickets to sports events, hampers, or other incentives.

To ensure that our financial advisers prioritise the client’s interests above their own, we follow an advice process that ensures our personalised recommendations are made based on the client’s goals and circumstances, as advised to us. SeventyTwo Wealth Partners Ltd financial advisers complete regular training, including how to manage conflicts of interest.

Matt Caughey is the only adviser and director working for SeventyTwo Wealth Partners. His remuneration is based on the profitability of the company by the way of drawings.

DISPUTES AND COMPLAINTS

If you are not satisfied with our financial advice service you can make a complaint by emailing matthewcaughey@gmail.com, or by calling 021823152. You can also write to us at: c/o 10 Bermuda Rd, St. Heliers, Auckland. When we receive a complaint, we will consider it using 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 within 10 working days of receiving them. If we can’t, we will contact you within 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 Financial Disputes Resolution Service (FDRS). FDRS 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 FDRS by :

PHONE 0508 337 337

EMAIL: enquiries@fdrs.org.nz

ONLINE: www.fdrs.org.nz

POST:   
Freepost 231075

PO Box 2272

Wellington 6140, New Zealand

DUTIES INFORMATION

SeventyTwo Wealth Partners Ltd and anyone who gives financial advice on our behalf, has 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.