Our Business Details
Resource Financial Planning Ltd (FSP17321) is a Financial Advice Provider and holds a Full License issued by the Financial Markets Authority (FMA) to provide a financial advice service.
Nature and Scope of the Financial Advice Provided
Our Services:
- Financial Planning
- Investment Advice
- Risk Management Advice*
Resource Financial Planning utilises a wide universe of Investment managers and solutions to provide financial advice and investment planning services. These investment advisory services are for the following financial products:
- Managed Portfolios (PIE structured funds etc)
- Global Unit Trusts
- KiwiSaver funds
- Superannuation/QROPS funds
*Resource Financial Planning also provides Risk Management/Insurance advice to Private Wealth clients only in the form of Life, Medical & Income Protection insurance. We only provide advice on these products through the following providers:
- AIA
- Fidelity Life
- Cigna
- NIB
- Asteron Life
Resource Financial Planning does not generally provide financial advice on products not listed above. However, some clients may have investments in other financial products. Where this is the case, we may provide advice on those products as part of providing financial advice to these clients.
Our Fees and Expenses
The fee outcome for you will depend on the nature and scope of the advisory service provided. All fees are disclosed and are agreed to by all parties before we proceed with any recommended strategy.
We (Resource Financial Planning) may charge the following fees for financial advice:
- An initial advice fee for the time involved in meeting a client, obtaining all necessary information, and preparing and presenting a financial strategy/plan. This is generally a one off, lump sum fee.
- An ongoing financial advice fee for the provision of ongoing financial advice services such as Portfolio management, monitoring and ongoing Investment advice pertaining to your investments. This is a percentage of the value of your total investment balance usually calculated at the end of each month.
- A client may request ad hoc work to be carried out such as Investment research or a related task specific to their request. This will be charged as a one off, lump sum fee based on hours required.
Where other costs are incurred in the process of providing our advisory services to you, you will be liable for these costs. We will, however, disclose and agree to these additional costs with you prior to them being incurred.
Duties
We are a solutions-based firm here to serve the needs of our clients.
Resource Financial Planning, and anyone who gives financial advice on our behalf, have legal duties relating to the way that we give advice.
We must:
- give priority to our clients’ 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); and
- 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 that 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 www.fma.govt.nz.
Conflicts of Interest, Commissions and Incentives
These providers may assist with professional development, financial modelling software and other tools to assist in our firm’s business development.
Our financial advisers are remunerated by way of Salary, Bonus and Commission.
Resource Financial Planning may receive commissions from the managed investment scheme managers on whose products we provide financial advice or in which our clients invest and insurance companies on whose policies we provide financial advice. These commissions are based on the amount of the sum invested and insurance premiums paid.
To ensure that Resource Financial Planning’s financial advisers prioritise each client’s interests above their own, they follow an advice process that is designed to ensure their recommendations are made on the basis of the client’s circumstances and financial goals and are suitable for the client . Resource Financial Planning also:
- has a quality assurance programme in place to monitor the advice our financial advisers provide;
- actively monitors compliance with our conflicts policies and procedures; and
- ensures training is provided to all Resource Financial Planning financial advisers about how to manage conflicts of interest.
Complaints Handling and Dispute Resolution
Even with the best of intentions, complaints sometimes arise. Resource Financial Planning is committed to ensuring that all client complaints are handled and resolved in a professional, fair and timely manner in accordance with our Client Complaints Policy and associated procedures.
If you are not satisfied with our financial advice services, you can make a complaint by contacting us at:
Complaints Handling Officer
Resource Financial Planning Ltd
PO Box 4130
Highfield, Timaru 7942
admin@smms.co.nz
When we receive a complaint, we will consider it 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 The Insurance and Financial Services Ombudsman (IFSO Scheme), an approved dispute resolution scheme who provide a free, independent dispute resolution service that may help investigate or resolve your complaint.
You can contact The Insurance and Financial Services Ombudsman (IFSO Scheme) at:
PO Box 10-845
Wellington 6143
0800 888 202
Contact Details
Resource Financial Planning Ltd
Suite 4C, 2 Queen Street
Auckland Central
Auckland 1010
+64 9 489 6860