Disclosure Statement

Before we get started

As a professional adviser, there is important information you need to know before we can provide you with the best advice we can offer.

Please read on to understand the information on how we are licensed, plus:

• What services we can provided and what they may cost you.
• How we operate
• Complaint’s handling
• Conflicts of interest
• Our conduct
• Data privacy and collection

License information

Savvy Wealth Limited (FSP1001475), trading as (Savvy Wealth) holds a licence issued by the Financial Markets Authority to provide financial advice.

We have no license limitations.

Savvy Wealth Limited

Email: [email protected]

Ph: 0210 268 7955

5 Tamworth Crescent

Newlands

Wellington, 6037

New Zealand

Nature and Scope of Engagement

At Savvy Wealth we provide the following services:

• Investment planning
• Short term savings
• Investment solutions
• Financial projections/retirement planning
• Cash management
• Cashflow analysis
• Emergency Fund

The Providers we use are for these services are:

• For our investment portfolios we the Consilium Platform powered by FNZ. We can source a very large number of managed funds and direct investments such as shares and bonds on the NZX, ASX, and other exchanges globally (mainly USA and UK) that are available to Retail investors in New Zealand.
• We may also get external research from Heathcote Partners, Jarden, and Morningstar.
• For KiwiSaver, we work with four providers – Consilium NZ, Milford, Booster and ANZ Bank.

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 made based on the client’s goals and circumstances.

We want to understand what your vision is, what values you want to live by and then build a financial plan that best supports your lifestyle to give you the best chance of success.

Conduct

At Savvy Wealth Limited, 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

Remuneration (what do our services cost?):

At Savvy Wealth Limited, we endeavour to be as independent and transparent with our fees as we possibly can. The fees we charge for the preparation of a financial plan are:

At Savvy Wealth Limited we charge for running a portfolio a percentage of asset under advice. These are typically as below but may vary depending on size and complexity of the portfolio: Full costs will be provided to you in a Statement of Advice before you agreed to our services.

Brokerage

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 would be quoted at the time before transacting. It will depend on factors such as size of the trade, is research from an external party required and the exchange that it would be traded on.

Commissions

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 Savvy Wealth are refunded back to the investor.

With KiwiSaver, two of our providers only renumerate us through commissions and they are as follows:

With Consilium and Milford, we can charge a separate advice fee of up 0.75% + and additional 0.20% initial set up fee in the first year for extra work that this entails.

Booster NZ also pays $30 to the adviser after year one for the work in transferring or opening a KiwiSaver account with them.

Generate KiwiSaver pays up to $300 to the adviser on new accounts.

Dieter Timmerman is the only adviser and director working for Savvy Wealth. His remuneration is based on the profitability of the company by the way of drawings.

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.

For KiwiSaver, Savvy Wealth will receive commissions from some of the providers on whose products we give advice. If you decide to take out KiwiSaver, the product providers will pay a commission to Savvy Wealth. The amount of the commission is based on the balance of the KiwiSaver fund.

We undergo annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme annually by a reputable compliance adviser.

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.

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: 0210 268 7955.

You can also write to us at:

Savvy Wealth Limited

5 Tamworth Crescent

Newlands, 6037

Wellington

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 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 cannot agree on how to fix the issue, you can contact our external disputes resolution scheme, Financial Dispute Resolution Scheme (FDRS).  FDRS provides a free and independent dispute resolution service that may help to resolve your complaint. To contact FDRS:

Call: 0508 337 337

Email: [email protected]

Write to: Freepost 231075, PO Box 2272, Wellington 6140.

Duties information

At Savvy Wealth Limited our financial advisers 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
• exercise care, diligence, and skill
• meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services
• meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services

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 ASAP. Any information no longer needed will be destroyed

You can find out more by visiting our Privacy Policy at our website: Privacy Policy – Savvy Wealth

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.