Disclosure and Fee Info

Background

WealthHealth Limited Trading as WealthHealth, provides Financial Advice and implementation of that advice to our clients to help achieve their goals.

How we are regulated

WealthHealth holds a Financial Advice Provider License (FAP) issued by the Financial Markets Authority. The registration number is FSP 523606. Each adviser that provides advice under the WealthHealth name, is individually registered with the Financial Markets Authority and each has their own registration number.

Please click here to view our team and individual Licence numbers.

WealthHealth offers advice on Home Loans/Mortgages, Life/Health/Disability Insurance, Fire and General Insurance (Home Car Contents Boat etc) and KiwiSaver. We only provide advice about products for certain providers.

Please click here to view our provider list. When providing advice to you, we limit our advice to the product providers we work with. If there is a particular product provider you are interested in using, please review this list to ensure that the product provider is on there so that we can assist you. If it is not, then we do not provide advice on that product provider.

Fees and Expenses

Please note that WealthHealth does charge fees for service, however you will note that clients have an option to pay these fees by way of WealthHealth receiving commission for products implemented as a result of our advice to you, however that is subject to commission clawbacks, and depending on the complexity of work, may charge additional fees, which will be disclosed to you once we understand your requirements. Please read the Terms of Service and Fees to ensure you fully understand.

Click here to view our current Terms of Services and Fees in more detail and how these may be applicable to you.

Conflicts of Interest and Incentives

As noted above, WealthHealth can generate revenue from product sales if you choose to remunerate WealthHealth through this option.

Mortgage Providers pay a commission based on the amount of the loan that is implemented.

Insurance providers pay a commission based on the annual insurance premium. Some insurance providers we work with also pay an additional amount to WealthHealth to help with the increasing compliance costs of operating a Financial Advice Business. This amount is also based on the annual insurance premium you pay. They can also assist us through ongoing training to keep up to date with industry and company and product changes. During these training sessions we may be required to travel and as such travel, accommodation and meals may subsidized.

WealthHealth may be paid a referral fee from some parties in the event we refer a client to them, and that client engages with that party. Examples may include Property developers, Real Estate Agents. This arises when clients don’t have a lot of time to undertake particular research themselves and prefer the convenience of engaging with someone who can help make that research easier. Examples may include new subdivisions opening that may be of interest to the client, or sometimes appropriate investment properties that have been highlighted to us that may be of benefit to our clients. This situation is very rare, and if it applies to your situation, we will ensure we disclose this to you if it arises.

To ensure that our financial advisers prioritise the client’s interests above their own, we follow an advice process that ensures our recommendations are made on the basis of the client’s goals and circumstances. All of our financial advisers undergo annual training about how to manage conflicts of interest. We undertake a compliance audit, and review of our compliance programme annually by a reputable compliance officer.

Complaints Handling and Dispute Resolution

If we ever have a disagreement, we have a formal complaints resolution process to follow.

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

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 email to let you know whether we can resolve your complaint and how we proposed to do so.

If we can’t resolve your complaint, you can contact our independent disputes resolution provider The Insurance and Financial Ombudsman (IFSO) The 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 lodge a complaint with IFSO through their website https://www.ifso.nz/complaints You can also call them on 0800 888 202. You can also write to them their address is Level 2 Solnet House, 70 The Terrace Wellington 6143.

Please refer to our Fee section for any fee WealthHealth can charge to you, in the event of Recovery Costs, as this service does cost WealthHealth to use, usually $1,500 + gst per investigation.

Duties Information

All WealthHealth Advisers are required to comply with the Code of Conduct for Financial Advisers. This means that the advice we provide you must meet legal duties to meet standards of competence, knowledge and skill; Give priority to our client’s interests; exercise care, diligence and skill, meet standards of ethical behaviour, conduct and care. This means 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 was we should and give you suitable advice)

This is only a summary of the duties that we have. More information can be found by visiting the Financial Markets Authority website at www.fma.govt.nz

WealthHealth Ltd contact details

Email [email protected]

Phone 0800 672 537

The information we discuss with you is available in writing. Please let us know if you wish to have a written copy.





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