Planwise Client Agreement And Disclosure Statement

Transcription

1 Planwise Client Agreement And Disclosure Statement (Updated 23 September 2015 Version 10) All Legal requirements are contained here within including sign off processes and disclosure. Planwise Limited.

2 Important please read this document carefully This Booklet contains vital information This information will help you to choose a financial adviser that best suits your needs. It will also provide some useful information about the financial adviser that you choose. How am I regulated by the Government? You can check that I am a registered financial adviser at The Securities Commission regulates financial advisers. Contact the Securities Commission for more information, including financial tips and warnings. You can report information or complain about my conduct to the Securities Commission, but in the event of a disagreement, you may choose to first use the dispute resolution procedures described on page 11. What you should do if something goes wrong? 1. If you have a problem, concern, or complaint about any part of my service, please tell me or my internal complaints scheme so that I or my internal complaints scheme can try to fix the problem. 2. You may contact the internal complaints scheme as detailed on Page 11 in the Section titled Internal Complaints Process. If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact our Disputes Resolution provider whose details are also listed in this section. This service will cost you nothing, and will help us resolve any disagreements. All contact details including those of the Insurance Ombudsman are listed on page 11 of this document What sort of adviser am I? (adviser please indicate appropriate sections) I am a Registered Financial Adviser (RFA) I can advise on Category 2 Products and any KiwiSaver Products I may have Accreditations for. (see my profile for details pages 18-21) I am a Authorised Financial Advisor (AFA) I can advise on all Category 1 & 2 Products I can give you advice about all products and services detailed in the Scope of Services Section (Pages 4 & 5) in this Planwise Client Agreement Booklet for a Registered/Authorised (delete which is not applicable) Financial Adviser. I work mainly from the Planwise Bay of Plenty Office (Address details listed on page 24) Declaration I, declare that, to the best of my knowledge and belief, the information contained in this disclosure statement is true and complete and complies with the disclosure requirements in the Financial Advisers Act 2008 and the Financial Advisers (Disclosure) Regulations Signed: Date: Planwise Limited.

3 Wisdom Commitment Trust 3 Contents This Booklet contains vital information regarding the following:- Section 1: Introduction to Planwise Section 2: Letter Of Engagement The reason you have engaged in seeking advice from a Planwise Adviser (Financial Adviser) Section 3: Disclosure Statement Funds Handling Disputes Process Product Suppliers Fees & Remuneration Profiles & Qualifications Adviser Declaration (Adviser to Sign) Sign off Procedure Step 1 Terms of Agreement (Return to Planwise Administration) Sign off Procedure Step 2 Protecting your Interests (Return to Planwise Administration) Planwise Limited.

4 Section: 1 Introduction to Planwise Introduction to Planwise 4 Welcome to Planwise Introduction In accordance with the provisions of the Financial Advisers Act 2008, the Financial Markets Authority and the Securities Markets (investment Advisers and Brokers) Regulations 2007, this Booklet provides you with Information about the following: The services we provide How our business operates The qualifications and experience of all members of the Planwise Team. The investment and insurance products we can offer you. Which financial organisations we place business with; and How we are remunerated. To be the best in delivering financial solutions to our clients with a passion that exceeds their expectations To be the best is:- Leading the industry in compliance requirements Being superior in our passion for customer services Being recognised industry Leaders To be the trusted brand that is top of mind when seeking financial advice. Employing staff that exceed your expectations. Having Pride in our advice process. You, the client, acknowledging Planwise as a valuable partner to your family or business

5 Scope of Services The following is a list of services, products and securities available through Planwise RFA & AFA Advisers:- RFA:- Registered Financial Adviser AFA:- Authorised Financial Adviser Business Insurances Business Liability/Debt Protection Group Insurance (employee/members benefits) Key Person Protection Business Ownership Protection Succession Planning (Buy/Sell insurance) Income Protection Public Liability Insurance Commercial Insurance Asset Protection Business Overheads I/we agree that Planwise Limited will complete a Business Insurance Risk assessment in the areas I have indicated above: Yes No 5 Personal Insurance Life Insurance Trauma Insurance Income Protection Insurance Medical/Health Insurance Disability Insurance Mortgage Protection Insurance House & Contents Insurance Motor Vehicle/Motorcycle/Boat Insurance Rental Property Insurance Travel Insurance I/we agree that Planwise Limited will complete a Personal Insurance Risk assessment in the areas I have indicated above: Yes No

6 Scope of Services continued./ 6 Mortgage Finance & Advice (RFA & AFA) Our mortgage Advisers can help you to determine how much you can borrow and who is the best lending institution for you to borrow from. They have access to a range of lenders, including trading banks, to suit your individual circumstances. They can also advise you on mortgage structures and mortgage repayment options. I would like my Planwise Adviser (Financial Adviser) to Provide me with more information /advice regarding mortgages: Yes No KiwiSaver Other Retirement Plans Children's Savings Plans (AFA only) Planwise AFA Advisers provide advice on KiwiSaver, Select Wealth Management, Wrap Accounts, Long term Superannuation and Savings Plans and Children s Savings Plans. We do not provide direct advice for portfolio investing or shares. Should we identify the need for portfolio investment, we will provide you with a referral to a specialist Adviser in this field. I would like a Planwise Adviser (AFA ) to Provide me with more information /advice regarding : Retirement Planning/KiwiSaver Investment Children's Savings Plans UK Pension Transfers Yes Yes Yes Yes No No No No Motor Vehicle Finance & Leasing We have a finance and lease specialist with over 40 years motor industry experience for your convenience. Talk to Colin Bower regarding your vehicle finance needs. I would like to be contacted by Colin Bower to Provide me with more information /advice regarding:- Vehicle Financing/Leasing Yes No

7 Date:- Client Name: Partners Name: Adviser Name: Section: 2 Terms of Engagement 7 Tell me what you want = Class Service We find out what you need = Personalised Service You have agreed to appoint a Planwise Adviser to provide you with the following services:- Note: Only a Planwise Authorised Financial Adviser can provide advice on investments, including KiwiSaver. Assessment of Personal Insurance Needs Review of existing Personal Insurance Assessment of Business Insurance Needs Review of existing Business Insurance Assessment of needs for Mortgage Finance Review of Existing Mortgage Finance Assessing Retirement Planning (AFA only) Assessment of Needs for Investment Planning (AFA only) Review of existing Investment Planning (AFA only) Assessment of other needs through a third Party (Details) (Once you have determined the terms of engagement that you require from your Adviser, you will be asked to complete the sign off process for sections, 2 and 3.)

8 Terms of Engagement 8 How we Operate Personalised Service When we provide advice we follow the internationally recognised six steps process: Establishing a close and confidential client-adviser relationship Gathering relevant data and determining your goals and expectations Analysing and evaluating your financial position, goals and needs. Developing and presenting our written advice. Overseeing the implementation of the advice. Monitoring and reviewing the advice. Planwise voluntarily subjects itself to an internal audit process on an anual basis. Referrals We are a referral based business. This means that by and large we grow our business through the referrals we receive via our clients. We always welcome and appreciate your referrals. In line with this relationship building practice, we have established trusted relationships with other Business Development Professionals, whom we also refer clients to. Planwise Advisers receive no financial benefits from these relationships. These professionals include:- Accountants Lawyers Registered Valuers Marketing and Branding Professionals Business Mentors and Business Development Professionals. Insurance, Finance and Investment Research We believe in providing our clients with the best possible insurance, finance and investment products that are available. In order for us to do this we use the following research to help us determine how best to assist you. Independent research (at our cost) Internal research produced by the Planwise team, including staff members The analysis of this information may be included in our Personal and Business statement of advice reports

9 9 Time Frames & Reviews The estimated time of the planning process is approximately one hour for the first meeting and two to three meetings may be required for the entire process. At a future mutually agreeable time, a review of your personal situation may involve a further one hour interview in order to update mutually agreed levels of cover. In most cases, reviews take place annually unless otherwise agreed. We consider the annual review process very important. Reviewing your personal situation at least on annual basis ensures that the Planwise Service you choose is relevant to your circumstances. Client Responsibilities It is your responsibility to provide your Adviser with accurate and relevant information at the time that the initial information is being gathered by way of the Planwise Needs Analysis. If you provide your Adviser with incomplete or inaccurate information, your Adviser may not be able to provide you with the advice, products or services you are seeking. It is important that you understand your obligation to provide your Adviser with accurate and relevant information in order for the financial services provider to appropriately assess the risk and make an informed decision about the products you may be seeking. For insurance products, in order for the insurer to assess the risk and the appropriate premium, the law requires you to disclose all the information you know, or should know, that is relevant to the insurer s decision whether to provide cover or determine the terms of cover. This is called your duty of disclosure. For example, you should disclose your current income, medical history and all information about insured and uninsured losses and claims. It is your responsibility to advise your Planwise Advisor of any changes to your circumstances outside of the review time frame. Termination of Services By the Client All Planwise Advisers undertake to exercise care, diligence and skill in providing you with a financial adviser service. If at any time, you wish to terminate this engagement, you must advise Planwise in writing. Upon receipt of such advice by you, Planwise then undertakes to confirm termination of the engagement to you in writing within two business days, not including any public holidays. Termination of Services By your Adviser On occasion, it may be necessary for a Planwise Adviser to withdraw from giving a client advice. This may be due to a conflict of interest or for other reasons that the Adviser deems reasonable. Your Adviser will inform you in writing to confirm termination of engagement with you.

10 Section: 4 Disclosure Statement (Supplementary Disclosure) 10 Date:- Client Name: Partners Name: Adviser Name: Planwise Limited.

11 Funds Handling Procedure 11 Planwise Limited, DOES NOT operate a trust account. This is because all of our client premiums, contributions of funds of any type, intended for payment to the Product Supplier are always forwarded directly to the Product Supplier by you the client. All cheques should be marked Account Payee Only or Not Transferable. Professional Association Support. It is compulsory for all Planwise Financial Advisers to belong to a recognised Professional Association for the following reasons:- To ensure that the Adviser giving you advice is bound by a professional practice standard and code of ethics. To ensure all Advisers understand and maintain a record of their ongoing education. To ensure that all Advisers and their support staff undergo regular industry education and training. All of our Advisers are members of the NZ Professional Advisers Association (PAA). There are several Professional Associations and support institutions operating throughout New Zealand. However, Planwise have chosen the PAA as they are an independent professional body within the Financial Services Industry and offer the best level of support for our Advisers with high standards of Industry Training and Support. Because all of our Advisers are members of the PAA they are bound to adhere to the PAA practice standards and code of ethics in all facets of our business. A full copy of the PAA practice standards and code of ethics is available free of charge upon request. Planwise support staff are also contractually bound to adhere to the PAA practice standards and code of ethics in all facets of our business and undergo regular industry education and training. We encourage you to find out more about the PAA by visiting Professional Indemnity Insurance All Planwise Advisers have Professional Indemnity Insurance which covers all areas of our practice as listed in this disclosure statement. The level of cover for Planwise Advisers is as follows:- Professional Liability to $5,000,000 any one claim, shared $10,000,000 any one claim and $30,000,000 in the form of an aggregate for all Advisers Statutory Liability to $1,000,000 any one claim and in aggregate Public Liability to $5,000,000 any one occurrence Employers Liability $1,000,000 any one claim and in aggregate Internet Liability $250,000 any one claim and in the aggregate per Adviser. A shared $5,000,000 in the aggregate for all Advisers Our Professional Indemnity Insurance underwriters are, Lumley General Insurance (NZ) Limited. As with all insurance, this cover has limitations and is subject to certain exclusions, terms and conditions. (note:- there may be variations in the Professional Liability Limit per any one claim with each individual Adviser). Contact the PAA: Professional Advisers Association PO Box Victoria Street West Auckland 1142 Free Phone

12 Planwise Disputes Process 12 All Planwise Advisers and Planwise Staff aim to provide you with a level of client servicing that exceeds industry expectations. However should a dispute arise, the following process should be followed. Disputes Involving Staff Planwise Staff members are contractually bound by the PAA practice standards and code of ethics. Should a dispute arise with any Planwise Staff Member, please contact: The Directors Bruce Cortesi & Peter Griffin PO Box Bayfair Girven Road Mount Maunganui P: In the case of a dispute with a Planwise Staff member, each staff member will be dealt with on an individual basis in accordance with each individual contract and in accordance with the NZ Employment Staff Relations Act 2000 and the Privacy Act The process outlined below, if applicable (as for Advisers), will be followed for any dispute involving an employee of Planwise Limited. Internal Complaints Process All Planwise Adviser's are members of the PAA and are bound by the PAA practice standards and code of ethics. In the event of a complaint against your Adviser, please submit your complaint in writing and the following Planwise process will be adopted:- Process 1. In the first instance the Adviser and the client are encouraged to work together to reach a satisfactory outcome to the problem. A satisfactory outcome will be binding on all parties and the matter will be closed. Process 2. In the event no satisfactory outcome is reached in Process 1, then the matter will be referred to the Planwise Limited Board for consideration. The Board will then work with the Adviser and the client to reach a satisfactory outcome for all parties. A satisfactory outcome will be binding on all parties and the matter will be closed. Process 3. In the event no satisfactory outcome is reached in Process 2, then the matter will be referred to the Professional Advisers Association Disputes Body, for assistance or advice. Process 4. In the event of an unsatisfactory out come from the Planwise Internal Disputes Process, the client is advised to refer the matter to the Planwise Adviser Disputes Resolution Scheme Provider. Contact details stated below. If the Planwise internal Disputes Process fails to bring satisfactory outcomes for all parties, then both parties may be encouraged to seek further advice. The client may wish to refer the matter to the Planwise disputes resolution scheme provider. Contact details stated below. Internal Disputes Process:- Planwise Disputes Board info@planwise.co.nz PO Box Bayfair Girven Road Mount Maunganui P: F: Disputes Resolution Provider Financial Services Complaints Ltd Free phone: Fax: info@fscl.org.nz PO Box Wellington 6145 Contact the PAA:- Professional Advisers Association Chief Executive Officer PO Box Victoria Street West Auckland 1142 Free Phone Admin@paa.co.nz

13 Risk Product Suppliers Category 2 Products (RFA & AFA Advisers) 13 Planwise Limited Advisers have formal business arrangements with the following companies. They will only recommend the products from these companies that best suit your individual needs based on the information gathered during the six step advice process. Planwise Advisers are dedicated to matching clients with the best possible products to suit the individual needs of our clients. Planwise Limited has a preference for recommending products with Insurers of a high Financial Strength Rating. Planwise requires a high level of care and success for it s clients at claim time. Sovereign Assurance OnePath AON Risk Services Vero ACCURO AIA NIB Fidelity Life Assurance Southern Cross Mortgage Lenders Category 2 Products (RFA & AFA Advisers) Planwise Advisers have formal business arrangements with the following lenders. However, Planwise Advisers will only recommend the products from these companies that best suit your individual needs based on the information gathered during the six step advice process. Planwise Advisers are dedicated to matching clients with the best possible products to suit the individual needs of our clients. Sovereign Home Loans Kiwibank Driveline Finance and Geneva Finance (Vehicle Finance and Lease) ANZ ASB KiwiSaver & Investment Product Suppliers Category 1 Products (AFA Advisers Only) NZ Funds Sovereign Select Wealth Tower Asteron Craigs Investments Partners Guardian Trust ASB Fisher Funds Fidelity Life BT Funds One Path AXA Plan B Britannia Grosvenor AON Note:- (RFA) Registered Financial Advisers may provide a class service for Fidelity Life KiwiSaver if they have been accredited to do so, please see individual Adviser Profiles for qualifications (pages 18 21)

14 14 Fees and Remuneration Schedule Advisers charge a fee or receive commission for the investment, insurance or mortgage advice that they provide to you, our client. Income is used to defray the costs and to meet the overheads incurred in providing advice and services to our clients. These costs include but are not limited to:- Office Lease Telephone/Fax Vehicle costs Stationery/Postage Administration cost Electricity Wages/salaries for staff Up-skill/Education Courier Charges Travel expenses Client Servicing Website Various publications, e.g., Client workbooks and newsletters Any fees that a Planwise Adviser receives, may vary according to the precise nature of their engagement and may be based on:- Fees (if a fee for service is payable by you rather than commission our hourly rate is $ per hour plus GST, if a fee is to be charged this will be advised, discussed and agreed upon with you before engaging the services of a Planwise Adviser). Planwise Limited reserves the right to charge $250 for a Risk Analysis and Report which will be rebated back to the client should the client proceed with the recommendation of the Planwise Adviser. This will be disclosed PRIOR to any Financial Advice being provided.. Commissions Fees Salaried How Planwise Advisers are Remunerated In the provision of the service we provide to you, Planwise Advisers receive payments as follows: Initial and on-going commission (including future and contingent commission) on insurance and investment products. This is paid by product suppliers following business placed with them. The commission amount varies depending on the product, the amount contributed and sometimes the length of time that the product is intended for. Commissions paid by insurance and funds management companies are typically structured in the following manner:- New Business Commission Service Commission Asset Commission Calculated on the completed sale Calculated as a percentage of each contribution or premium paid on a contract from the first anniversary or if applicable any first increase anniversary. Calculated as a percentage of funds under management. The level and type of commission we receive depends on the type of product and supplier we recommend to you.

15 15 How Planwise Advisers are Remunerated / Insurance Products:- Up front commission Trail/Renewal Commission Production Bonus Can receive a payment of up to and between 20% - 200% of the first year annual premium depending on the type of Product and the Product Provider. Can receive up to and between 3% - 20% per annum of the annual premium depending on the type of Product and the Product Provider. Can receive a variable production bonus of 10% - 80% of the Up front Commission depending on the Product and the Product Provider. KiwiSaver Products:- A one off up front finders fee may be paid A trail commission of up to 0.25% may be paid. All remuneration will be discussed with you upon application of your chosen or recommended KiwiSaver product Investment Products:- In the provision of the services a Planwise AFA Adviser provides, they may receive payments as follows: Initial and on-going commission (including future and contingent commission) on insurance and investment products. This is paid by product suppliers following business placed with them. The commission amount varies depending on the product, the amount contributed and sometimes the length of time that the product is intended for. Commissions paid by funds management companies are typically structured in the following manner:- New Business Commission Service Commission Asset Commission Calculated on the completed sale Calculated as a percentage of each contribution or premium paid on a contract from the first anniversary or if applicable any first increase anniversary. Calculated as a percentage of funds under management. The level and type of commission we receive depends on the type of product and supplier we recommend to you. Planwise Authorised Financial Advisors AFA s) are qualified to give you advice, and therefore are entitled to receive commission. Your Authorised Financial Advisor will provide full disclosure on any fees or commission they are entitled to receive in their Secondary Disclosure Statement.

16 How Planwise Advisers are Remunerated / 16 Mortgages and Lending Products:- In most cases a Planwise Adviser receives a commission from the lender when your mortgage or loan is drawn down. They may also receive an ongoing (trail) commission. The level and type of commission received depends on the type of product and the Lender recommended to you. Specific amounts vary from Lender to Lender but typically 0.4% to a maximum of 0.65% of the loan amount. From time to time Lending Proposals may be subject to separate pricing and fee agreements. Mortgage Administration Top-Up Fee An Administration fee is charged for each mortgage top-up up to a maximum loan top-up value of $50,000. The Administration fee is a minimum of $ and can extend to a maximum of $ Your Adviser will advise you of the fee you will be charged. No Administration fee is charged on loans above $50,000. Termination Fee Planwise Advisers who receive commission for facilitating insurance or mortgage finance do so in accordance with the standard Agency Agreement with the Insurer or Lender. The commission the Adviser receives pays for appointments with you or other Professionals, staff, administration and the work undertaken during the six steps advice process in accordance with the terms of engagement as agreed by you the client. Planwise Limited values the trust and loyalty you the client place in our Company. In almost every circumstance a Planwise Adviser can work with you when you need to reduce premiums or mortgage payments to meet a specified budget. It is not always necessary to resort to cancelling or changing Insurers or Lenders to achieve cost savings. Remember also that Planwise Limited has agreements with many Insurers and Lenders so can provide you with an alternative solution without terminating the service Planwise Limited provides. A termination fee will be charged - In all circumstances when an insurance policy or mortgage is cancelled and you have not given the Planwise Adviser the opportunity to make appropriate changes in the first instance to achieve your desired objective. Example: You are approached by another Adviser who promotes cheaper premiums or mortgage interest rates and you proceed without contacting your Planwise Adviser to give them the opportunity to make appropriate changes to meet your needs. The termination fee must be paid in full within 30 days of invoice, or an agreed payment plan can be approved and will have interest charged on the outstanding balance at 5% per annum. When a termination fee will NOT be charged Death of the life assured Claim on the policy which automatically terminates that policy Moving overseas Financial Hardship Marital/Relationship Separation Liquidation of Business or Company Bankruptcy Partial discharge of a mortgage Partial reductions or changes to insurance Sale of the house or business used as mortgage security You have provided the Planwise Adviser the first opportunity to retain your business (Satisfactory evidence will be requested in all of the above circumstances) SCHEDULE OF TERMINATION FEES Within 12 months from the date of issue of an insurance policy or the date of draw down for mortgage finance. Personal Insurance: $1000 (if cancelled within the first 12 months from policy issue date) Business Insurance: $2000 (if cancelled within the first 12 months from policy issue date) Mortgage Finance : $2000 (if cancelled within 12 months from date of draw down)

17 Other Benefits 17 As Professional Advisers, from time to time they may also be eligible to receive certain benefits, including but not limited to, consumer goods, travel and accommodation, and a bonus payment related to the amount of business that they place with specific providers. These benefits are at the discretion of the specific providers (i.e Sovereign, Fidelity, AIA, Tower and One Path). They are unable to provide specific and further details about these bonuses until they are actually received. Relevant Relationships & Interests We are required to disclose if any Planwise Advisers have any interest or relationships that a reasonable person would find reasonably likely to influence them in giving investment/insurance/mortgage advice. Sovnet:- Sovnet is an association of likeminded professional financial Advisers and Advisers who have chosen to form a business relationship with Sovereign. Sovereign are market leaders with respect to insurance and investment products and services. Sovnet membership provides them with advantages, such as advanced product training, professional development, participation in peer group forums and industry information. These advantages allow them to better serve our clients and their unique needs. Being members of Sovnet obliges them to place a majority of our clients risk business with Sovereign. However it is not an exclusive arrangement and they are entitled to place a significant portion of our business with any provider of our choosing. In all instances the clients needs are put first. Planwise reviews this arrangement on an annual basis. Sovereign Assurance:- In the interest of focusing on a long term relationship with our clients, Planwise Ltd has elected to take a preferred commission agreement with Sovereign Assurance, whereby Planwise Advisers receive a reduced up front commission (20% basic initial commission) and a 20% renewal/service commission per annum as a percentage of the total premium with Sovereign. This is instead of the standard 87.5% basic initial commission and 10% renewal/service commission. Any other entitlement of remuneration as stated in the How Planwise Advisers are Renumerated section of this disclosure statement remains unchanged. Fire and General Referrals:- Planwise Limited Advisers may refer clients to Rothbury Limited for the purposes of reviewing Fire and General insurance. There is no obligation for Planwise to do so, any referral is made only on the basis to provide the client with a review of any existing Fire and General insurance. If such a referral results in business for Rothbury Limited, Planwise limited will receive a commission of 20% of the commission Rothbury receives from the Insurer. Planwise Limited Advisers may refer clients to Marsh for the purpose of Fire and General insurance advice. Neither Planwise Limited or Planwise Advisers receive any payments or commission as a result of this type of referral. Planwise Limited does not provide advice on product or services that is provided by either Rothbury Limited or Marsh. Craig's Investment Partners:- Planwise Limited Advisers (AFA) or (RFA) may refer clients to Craig's Investment Partners for the purpose of advice on Category 1 products. Planwise Limited receives no commission or remuneration from any new business that may result from such a referral. Other professional services may be added to the group if it is deemed an advantage to service the needs of each individual client. This statement will be updated to reflect such changes. Planwise Limited does not have nor does it promote any of it s own products. Planwise Advisers and their staff do not have any shareholding, ties with any product provider and are not aware of any major conflict of interest. No Planwise Adviser or staff member has any interest (financial or otherwise) or relationships that any reasonable person would find likely to influence the Adviser or organisation in giving advice.

18 How Planwise Staff Members are Remunerated 18 All Planwise staff are employed on an individual contractual basis, in accordance with the New Zealand Employment Act Staff members are remunerated either via a weekly wage or a salary. Individual rates of pay are relevant to industry experience and performance. Each staff member has his/her contract and performance reviewed and re-evaluated on an annual basis. From time to time our staff members may receive bonuses based solely on individual performance. These bonuses may be but are not limited to cash, gift vouchers or other appropriate gifts. Information and Records We will provide you with the following information before you make a decision about whether to invest in a particular security or take out any insurance product:- A full description of the security or policy A copy of the current brochure, product description, investment statement or prospectus published by the product supplier. A full description of the nature of any guarantee associated with the security Full details of the identity, name and address of the security issuer, including principals A clear description of all the fees and charges to be borne by you, associated with the investment, or costs relating to, the acquisition and or management of the security. A clear description of all the fees charged and/or commission received by our Advisers resulting from the acquisition of the securities. Privacy Information We keep all or some of the following records about you, depending on the service provided:- Personal details address, contact details, health, family assets, liabilities, financial concerns, budget details etc. Confidential Analysis a written copy of any initial or subsequent meetings, which form the basis of any recommendations or solutions for you. Details of investments purchased or sold, products obtained, tax information regarding your investments, receipts of money and details of all payments made and to whom. Details of insurance purchased or sold, products obtained, health information from the underwriting process, medical records if supplied. Details of mortgage applications, products obtained, mortgage offers, bank statements, credit checks, credit card statements, mortgage documentation, other personal financial information that may be requested by a Lender for mortgage finance, including valuation reports. Company certificates, Company accounts, trust deeds/documents, Company Buy/Sell agreements, shareholder information, tax records and any other relevant information that may be reasonably requested for Business Insurance. Records of each phone call, or contact you may have with our office, or staff. All information about you will be held for a period of no less than 7 years from the date it was collected. The records described above will be held at our Bay of Plenty Head Office premises. Some records prior to 2008 are held in physical files. Records from 2008 to current date are held electronically. All discussions and information shared with us is subject to the Privacy Act The Privacy Act 1993 provides you with the right to request access to and seek correction of, any personal information held by Planwise Limited and your product supplier. Your personal information will be used by your Planwise Adviser and your product supplier for the purpose of providing advice to you. It may also be made available to any legal or compliance consultant of Planwise Limited. Product suppliers and claims investigators may also be allowed access to your personal information, for the sole purpose of processing and administrating any business you may seek to transact as a result of the advice given. Every precaution has been taken to protect your privacy and all information obtained about you will be kept strictly confidential and will never be listed publicly, traded or sold. Your rights in respect of the Privacy Act will be respected at all times

19 Financial Advisers Profile - Director 19 Bruce Cortesi Registered Financial Adviser Bruce Cortesi is a Director of Planwise Limited Bruce is the founder of Planwise Limited. He has owned his own business in the Financial Services industry for 18 years. Bruce has an excellent acumen in Business Planning and his passion is working with Businesses and Risk Management. Ensuring an optimum outcome regardless of the risk is most rewarding and finding solutions to even the most difficult of circumstances is where Planwise excels. ( Director) Over the years Bruce has witnessed many of our personal and business clients suffer horrendous tragedy and this has only heightened his resolve to ease that burden as simply and efficiently as we possibly can, so our clients can focus on rebuilding a sustainable future. As a Director of Planwise Limited Bruce s focus is on compliance, marketing and new initiatives. Bruce s foresight ensures that Planwise is continually leading the way within the financial services industry and that Planwise Limited is always exceeding the expectations of our clients. Bruce hosts many business seminars is an accomplished public speaker and is driven by a passion to help people from all walks of life put in place goals and achieve their dreams. Chairman of the PAA (Professional Advisors Association) Bruce is on the board of the Professional Advisers Association. He has been involved with product development with various providers and represented Financial Advisers on Product Forums. He regularly attends Provider updates and accreditation courses. Bruce is on the Board of Trustees of the Planwise Youth Trust. The Planwise Youth Trust facilitates Education and Scholarships for youth aged between 14 and 24 years. It focuses on financial literacy, alcohol education and SMART education programs. The Planwise Youth Trust appoints its own independent Board of Trustees. Further information can be found at or on the Planwise Youth Trust Facebook Page. Bruce is a Senior Partner and Administrator for the Youth Protection Plan on behalf of the Planwise Youth Trust. The Youth Protection Plan is Life and Trauma Insurance underwritten by Sovereign Assurance for year olds who become members of the Planwise Youth Bruce s Qualifications ITC Preliminary Certificate in Insurance Certificate of Counselor Salesperson Business Insurance Papers (Merit Pass) Adviserlink Disability Insurance Papers (IIAA Pass) (Insurance & Mortgage Accreditation (Sovereign) RFA Adviser working towards AFA Can advise on all category 2 products. Business Assurance Course KiwiSaver (Fidelity Life) Business Assurance Accreditation ( Sovereign) AIG Business Assurance Accreditation. This is the Planwise Adviser I Choose:- FSP105726

20 Financial Advisers Profile - Director 20 Peter Griffin Registered Financial Adviser Peter Griffin is a Director of Planwise Limited. Peter specializes in Family Protection, Business Protection, and Mortgage /Lending Finance. ( Director) Peter is passionate about ensuring Planwise clients receive the best personalised service we can offer and believes that establishing a robust relationship based on trust is the best way forward in helping our clients achieve their financial goals and dreams. Peter believes that if Planwise can go that extra mile to ensure the best possible out come for our clients then we can take it one step further and go an extra two. As a Director of Planwise Limited, Peters focus is helping our team achieve the most efficient use of our systems and processes and he is always searching for new ways to improve our client services. Peter has been involved in the insurance industry since In the past he has been employed associated with Bay Mortgage & Insurance Consultants, Mortgage Works Limited and with Rothbury Financial Services Limited Peter is a Senior Partner and administrator for the Youth Protection Plan on behalf of the Planwise Youth Trust. The Youth Protection Plan is Life and Trauma Insurance underwritten by Sovereign Assurance for year olds who become members of the Planwise Youth Trust. Peter is on the Board of Trustees of the Planwise Youth Trust. The Planwise Youth Trust facilitates Education and Scholarships for youth aged between 14 and 24 years. It focuses on financial literacy, alcohol education and SMART education programs. The Planwise Youth Trust appoints its own independent Board of Trustees. Further information can be found at or on the Planwise Youth Trust Facebook Page. Peter s Qualifications Level 5 National Certificate of Financial Services Adviserlink Certificate Mortgage Accreditation ( Sovereign, AN Z,ASB, National Bank, One Path) KiwiSaver (Fidelity Life) KiwiSaver (Sovereign) Business & Commercial Lending Accreditation (ANZ) RFA Adviser - Can advise on all Category 2 Products Former Sovnet Member NZQA Level 5 Certification Residential Property Lending This is the Planwise Adviser I Choose:- You can validate any Financial Advisers Registration by visiting FSP search FSP No.

21 Financial Advisers Profiles Associates 21 Stuart Garner Authorised Financial Adviser (Associate) Investment Specialist Stuart is our Investment and Kiwi Saver specialist he is an Associate of Planwise. Stuart started in the Financial Services Industry in Stuart completed around 16 years in financial planning in the UK, before coming to live in New Zealand permanently. As an AFA Stuart is an expert when it comes to the Investment and Pension sectors of the financial industry. Stuarts's Qualifications Level 5 national Certificate of Financial Services AFA Adviser - Can advise on all Category 1 and Category 2 Products. Chartered Institute of Insurance ( UK ) full financial planning certificate CII ( UK ) G60 specialist pension qualification Completed full training programmes with several major Life Assurance Companies Norwich Union ( now ) Aviva Branch Manager Legal & General GAN Life Allied Dunbar This is the Planwise Adviser I Choose:- FSP62963 Colin Bower Registered Financial Adviser ( Associate) Vehicle Finance & Lease Colin became an Associate of Planwise Limited in September Colin is also the Managing Director of Colin Bower Finance & Lease Limited. As such Colin may provide advice about vehicle finance and leasing options and car and motorcycle insurance Colin's Qualifications Level 5 National Certificate of Financial Services RFA Adviser - Can advise on all Category 2 Products Vehicle Finance and Lease Specialist Mortgage Accreditation with Sovereign Fidelity KiwiSaver Accreditation NZQA Level 5 Certification Residential Property Lending This is the Planwise Adviser I Choose:- FSP66081 You can validate any Financial Advisers Registration by visiting - search FSP No.

22 Financial Adviser Definition (AFA or RFA) 21 RFA Advisers (Registered Financial Adviser) - can only advise on Category 2 Products and any KiwiSaver Products they may have Accreditation for (Class Advice Only). (See individual profiles for details pages 18-21) AFA Advisers (Authorised Financial Adviser) can advise on all Category 1 & 2 Products. Only AFA Advisors are qualified to give advice on Investment products including all KiwiSaver products. (See page 12 for Product Categories) Education and Training (ongoing for all Advisers AFA & RFA) To be a Planwise Financial Adviser you must also be a PAA Member. Ongoing training forms a part of the requirements and conditions of membership. Each individual Planwise Adviser is committed to completing a minimum of 20 hours continuous industry related education every twelve months. All Planwise Advisers attend/read/participate in all relevant and applicable publications, seminars, product provider workshops, product accreditations/updates and individual study. Each individual Adviser can be audited at any time to provide evidence of their continuous education. In house educational workshops are conducted regularly. Each Planwise Adviser is required to complete 30 hours structured education over each two year period. Criminal Convictions (All Advisers) Each individual Planwise Adviser is screened to ensure they have no criminal convictions, bankruptcies or other such matters that are required to be disclosed under the Act and regulations. Legal and Accounting Issues Any discussions on legal or accounting issues DO NOT replace advice from professional qualified specialists (Solicitors or Accountants). We strongly recommend that you seek Specialist Advice. You can validate any Financial Advisers Registration by visiting - search FSP No. To find our more information about any Planwise Adviser please visit

23 Education and Training (ongoing for all Staff) 23 Ongoing education and training forms part of the requirements and conditions of individual staff contracts. Each staff member is committed to completing a minimum of 20 hours continuous industry related education every twelve months. Planwise staff attend/read/participate in all relevant and applicable publications, seminars, product provider workshops and updates. Planwise holds in-house educational up-dates on a regular basis. Criminal Convictions (Staff Members) Each individual Planwise staff member is screened to ensure they have no criminal convictions, bankruptcies or other such matters that are required to be disclosed under the Act and regulations. Receiving Advice from Staff Members Each individual Planwise Staff member receives internal and external training to meet the criteria of their relevant employment contract with Planwise Limited. Under the Financial Advisers Act 2008, Financial Markets Authority and the Securities (Investment Advisers and Brokers) regulations 2007, Planwise Limited Staff are prohibited from providing financial advice as defined in the acts and the FA code. Any advice provided is strictly limited to Planwise systems and processes or publications that do not fall under the definitions of financial advice in accordance with the above acts. In some circumstances a client s Adviser may request a staff member to relay information on behalf of the clients' Financial Adviser to the client. No other exception is provided and staff face disciplinary action in accordance with their employment contract for a breach of this Disclosure Statement. Support Staff Christina Baillie Mortgages & Claims Manager Industry experience since 2000 Sovereign Home Loans Certificate Maxine Hugget PA Bruce Cortesi & Peter Griffin Industry experience since 2001 Dale Snell Marketing Manager Industry Experience since 2002 Nikki Cresswell New Business Administrator Industry experience since 2006 To view staff profiles visit

24 Plan Wisely 23 Advisers - Contact Information Bruce Cortesi Director bruce@planwise.co.nz Peter Griffin - Director peter@planwise.co.nz Stuart Garner Associate stuart@planwise.co.nz Colin Bower Associate colin@planwise.co.nz For more information on any Planwise Adviser please visit our website Support Staff Contact Information Christina Baillie ext 210 christina@planwise.co.nz Maxine Huggett ext 213 maxine@planwise.co.nz Nikki Cresswell ext 211 nikki@planwise.co.nz Dale Snell dale@planwise.co.nz For more information on any Planwise Staff Member please visit our website PO Box Bayfair Girven Road Mount Maunganui P: F: A copy of your Financial Advisers Disclosure statement is available free of charge upon request E: info@planwise.co.nz Planwise Limited.