Signed : Aspiring Wealth Management Hamish Taylor Disclosure Statement 2

Transcription

1 Hamish Jonathan Taylor Primary Disclosure Statement (Authorised Financial Adviser) Name FSPR Registration Number Hamish Jonathan Taylor FSP87763 Physical Address Level 1, 99 Ardmore Street, Wanaka 9305 Postal Address PO Box 491, Wanaka 9343 Trading name Aspiring Wealth Management Phone Mobile Phone Fax Web This Disclosure statement was prepared on 20 May hamish@aspiringwealth.com It Is Important That You Read This Document. 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. In addition to the information that I must disclose to you in this statement, I must also disclose other information to you in a separate disclosure statement (or statements), including information about the types of services that I provide, the fees that I charge, and any actual or potential conflicts of interest. If I have not provided that information to you at the same time as I give you this statement, I must provide it to you as soon as I can. What Sort Of Financial Adviser Am I? I am an Authorised Financial Adviser. This means I have been authorised by the Financial Market Authority (the government agency that monitors financial advisers) to provide the financial adviser services described below. How Can I Help You? I have been authorised to provide you with financial adviser services of the following categories: financial adviser services: financial advice, discretionary investment management services and investment planning services When I do this, I will be able to give you advice about financial products provided by only 1 organisation: financial products provided by a small number of organisations (2 to 5 organisations): financial products provided by a broad range of organisations (more than 5 organisations). How Do I Get Paid For The Services I Provide To You? Fees only My services are only paid for by the fees that you pay. I do not receive payments from other people or organisations that might influence my advice. Fees My services are paid for by the fees that you pay as well as in other ways. Commissions There are situations in which my employer will be paid by other organisations. How much that payment will be depends on the decisions that you make. Extra payments from my employer Non-financial benefits from other organisations I may receive extra payments from my employer depending upon the decisions that you make. Other organisations may give my employer and me non-financial benefits depending on the decisions that you make. Aspiring Wealth Management Hamish Taylor Disclosure Statement 1

2 I am required to tell you the specific fees, commissions, extra payments and other benefits that I have received or will, or may receive in relation to the services that I provide to you. I must tell you these things before I give you advice or provide a service or, if that is not practicable, as soon as practicable after I give you that advice or provide that service. What Are My Obligations? As an Authorised Financial Adviser, I must comply with the Code of Professional Conduct for Authorised Financial Advisers. I also have other obligations under the Financial Advisers Act 2008 (including regulations made under that Act) and under the general law. What Should You Do If Something Goes Wrong? If you have a problem, concern, or complaint about any part of my service, please tell me or my employer so that I or my employer can try to fix the problem. We have an the internal complaints process and you can contact us by telephone, by or in writing. If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints process, we are a member of an independent dispute resolution scheme operated by Financial Services Complaints Limited ("FSCL") This service will cost you nothing, and will help us resolve any disagreements. Full details of how to access the FSCL scheme can be obtained on their website or you can contact them at: Address: PO Box 5967, Lambton Quay, Wellington 6145 Telephone Number : address: info@fscl.org.nz If You Need To Know More, Where Can You Get More Information? If you have a question about anything in this disclosure statement or you would like to know anything more about me, please ask me. If you have a question about financial advisers generally, you can contact the Financial Markets Authority. How Am I Regulated By The Government? You can check that I am a registered financial services provider and an Authorised Financial Adviser at The Financial Markets Authority authorises and regulates financial advisers. Contact the Financial Markets Authority for more information, including financial tips and warnings. You can report information or complain about my conduct to the Financial Markets Authority, but in the event of a disagreement, you may choose to first use the dispute resolution procedures described above (under What should you do if something goes wrong?). Declaration I, Hamish Jonathan Taylor, 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 : Aspiring Wealth Management Hamish Taylor Disclosure Statement 2

3 Hamish Jonathan Taylor Secondary Disclosure Statement (Authorised Financial Adviser) Name FSPR Registration Number Hamish Jonathan Taylor FSP87763 Physical Address Level 1, 99 Ardmore Street, Wanaka 9305 Postal Address PO Box 491, Wanaka 9343 Trading name Aspiring Wealth Management Phone Mobile Phone Fax Web This Disclosure statement was prepared on 20 May hamish@aspiringwealth.com 1. Types of Financial Adviser Services: I am able to provide you the following Financial Adviser Services through my employer Aspiring Wealth Management Limited ( AWM ) Broking Transactions : facilitating the buying and selling of securities via a broker on your behalf; 1.2. Research and Market Information : the provision of general financial market information and research if available. This research can contain information on individual securities, economic analysis, sector analysis or investment strategy Investment Advice : which may include the following: Strategic Investment Advice: Involving the collection and analysis of information regarding your financial situation, financial needs, financial goals and tolerance for risk to enable the development of a strategic plan around which to construct a portfolio specific to your investment requirements Possible Range of Investment Advice: Investment advice can be provided on a selection of securities in the following range of asset classes in New Zealand, Australia and internationally: Equities Government and Corporate Debt Securities and other fixed interest type securities New Zealand dollar and foreign currency cash management accounts Alternative Assets Listed Property Trusts Listed Investment Trusts Managed Funds Exchange-Traded Funds Derivatives 1.4. Portfolio Management Services Portfolio Review: Review of your investment portfolio on a regular basis Custodial Services: Arranging the provision of Custodial Services from JBWere (NZ) Nominees ( JBWN ) including: the provision of administration, nominee, custody and reporting services in respect of investments Premium Services: Arranging the provision of Premium Services from JBWN including: access via the internet to current portfolio valuations and transaction data for your portfolio and preferential access to participate in capital raising or Initial Public Offerings International Custody Services : For clients with international assets JBWN provides these services which include: Safekeeping of international assets only (excludes NZD and AUD assets), Currency accounts, and delivery of quarterly report Portfolio Monitoring: We provide a general monitoring service for investment portfolios where we will attempt to highlight to you investment opportunities or inform you of changes in investment recommendations in a timely manner when we become aware of such opportunities or changes Portfolio Administration: Provision of in-house portfolio administration services Cash Management : the lodgement of secured and unsecured deposits with financial institutions on your behalf; 1.6. Margin Lending : arranging access to margin loan facilities and cash management facilities provided by JBWN; 2. Relationships and Interests 2.1. AWM Shareholding: I am a beneficiary in a trust which is a shareholder in AWM Personal Relationships: A description of the financial or other interests, relationships, or associations AWM has that might be seen as being relevant to the provision of financial adviser services for you is set out in clause 2.3. However, other than my relationship with my employer AWM, I do not believe I personally have any financial or other interest, relationship, or association with persons which a reasonable client would find reasonably likely to materially influence me in providing financial adviser services AWM Relationships Relationships with Service Providers: Share broking services are provided exclusively through JBWere (NZ) Pty Ltd ( JBWere ) who provide Trading, Delivery and Settlement services to enable clients to trade listed securities on both local and international exchanges. AWM is party to a Financial Intermediary Agreement with Aspiring Wealth Management Hamish Taylor Disclosure Statement 3

4 JBWere covering the provision of these broking services and we receive fees as detailed below from you via JBWere Portfolio management services are provided through JBWN (a fully owned subsidiary of JBWere) and we receive fees from you via JBWN as detailed below. These services, where required, are subject to a separate agreement between you and JBWN Research: JBWere and Goldman Sachs and Partners provide investment research containing information on individual securities, economic analysis, sector analysis or investment strategy Relationships with persons connected with your investments: Other than the relationships with JBWere above, AWM is not currently an associated person of, nor has any financial or other relationship with, any person connected with any investments that I may give you advice about, that might reasonably be regarded as being likely to influence me in giving advice to you Relationships with issuers of managed funds: AWM may receive commissions or fees from issuers of managed funds where you choose to invest in one of their products. Commissions and fees will vary for each product and will be set out in the relevant offer document (if applicable), or otherwise separately disclosed to you Relationships with issuers of securities: AWM may receive commissions or brokerage from the sale of these products to you. Commissions and fees vary for each product and will be set out in the relevant offer document (if applicable), or otherwise separately disclosed to you Particular Relationship or Interest : Where a particular interest or relationship arises, that falls outside of those mentioned above, that could reasonably be regarded as being likely to influence the advice I give in relation to a particular investment, I will advise you of that relationship. 3. Fees and Services 3.1. Fees for financial adviser services are generally either charged on a transactional basis and/or on a funds under management basis Brokerage Fees: For Transactional and Custodial Service Clients (not JBWN Premium Services clients) where listed securities are traded fees are charged as a percentage of the value of the trade as brokerage on those transactions at the time the transaction is made. Brokerage is paid by you directly to JBWere. AWM receives a fixed proportion between 0% and 50% of any brokerage paid to JBWere by our clients. Brokerage fees are as follows: Australian and New Zealand listed securities : For trades in Australian and New Zealand listed securities, we charge brokerage of up to 2% of the consideration for the trades, generally subject to a minimum charge of NZ$100 per trade, plus NZ$4.50 per trade to cover NZX fees. For Australian trades that are non-broker sponsored trades, we charge A$30 on top of the standard brokerage charge Fixed Incomes Securities: For on-market transactions in fixed incomes securities, we charge brokerage of up to 1.5% of the value of the trade, generally subject to a minimum of NZ$50 per trade International share brokerage: For trades in international securities, we charge our applicable standard brokerage rates for Australian and New Zealand listed securities (see above), plus the relevant agency charges, which are as follows: 4. International Agency fee Minimum Other Exchange (% of value of trade ) agency fee (% of value of trade) UK/Europe 0.25% GBP35 EURO50 USD50* 0.5% Govt stamp duty for UK buys on London Stock Exchange US/Canada 0.25% USD % SEC Fee Annual Fee for each Depository Recipt (varies by issuer) Hong Kong 0.33% HK % HK Market Fee Japan 0.60% JPY3,000 or USD50* Singapore 0.50% SGD40 or USD50* % SGX market fee New issues of equities, fixed income and managed products: JBWere may charge brokerage rate of up to 2% of the products allocated to you Portfolio Management Fees: If Portfolio Management Services from JBWN are required, fees for custodial and portfolio management services shall be paid by you to JBWN. The fees vary depending on the level of management and service required as well as with the value of the portfolio and are detailed in Clauses 5.3 and 5.4 below. The specific fees are fully disclosed in, and subject to, a separate agreement between you and JBWN. AWM may receive a proportion of between 0% and 50% of any management fee paid to JBWN depending on the level of service provided. AWM in-house portfolio management fees are negotiated on an individual basis with clients at the time of starting such service Premium Service Fees: The fee for the Premium Service varies depending on the composition and size of your portfolio. The Premium service has a variable scale of rates for different asset classes. All Premium fees are charged quarterly, direct debited from your account by JBWN, and this is then reported and shown on your quarterly custody reports. A minimum of NZ$5000 per annum is charged for the Premium service. Aspiring Wealth Management Hamish Taylor Disclosure Statement 4

5 Equities Value of equity securities in portfolio (NZ) Annual brokerage and custodial fee charged* $0 - $500, % $500,000 - $1,000, % More than $1,000, % *this is calculated on a sliding scale based on the total value of equity securities in your portfolio Fixed income securities: JBWN charge a fee equal to 0.3% per annum of the value of fixed income securities in the portfolio Managed products: JBWN charge a fee equal to 0.45% per annum of the value of securities comprising managed products in the portfolio. However, if the fee payable in respect of a managed product differs, those fees will be set out in the relevant offering documents and/or before the investment advice is given Brokerage on trades: As a Premium client, your first 30 equities and/or fixed income securities trades per annum do not attract a charge. If you exceed 30 trades, the additional trades may attract brokerage at a rate to be agreed at the time. Additional fees apply to trades in options, international securities and foreign exchange - see below for details Cash Products: Term deposits for a term greater than 365 days will generally be charged a fee of 0.3% per annum of the value of the term deposit in the portfolio Custodial Service: JBWN s standard custody fee is 0.15% per annum of the value of your portfolio subject to a minimum of NZ$1,000 per annum and a maximum of NZ$2,500 per annum. All custody fees are charged quarterly, direct debited by JBWN from your account, and this is then reported and shown on your quarterly custody reports from JBWN. Standard brokerage rates are charged in addition to the standard custody fee. Normal Brokerage and General fees apply to trades as per clauses 3.2 and General Fees: Exchange traded options: For each order to purchase or sell exchange traded options, JBWere s standard brokerage rate is the greater of A$130 or 1% of the option premium. In addition, the ASX charges a transaction fee and, if the contract is exercised, an exercise fee per contract Cash products: When you place funds on call, JBWN will pass on to you the interest rate offered by the relevant trading bank at which JBWN deposits the client funds less a margin of up to approximately 0.4%. However, because the interest rates paid by the trading banks are generally floating interest rates, it is possible that the percentage retained by JBWere Nominees may exceed 0.4% from time to time Foreign exchange fees: For foreign currency trades, JBWere charge a small set fee of the currency you are converting to and up to 0.15% of the total currency traded Margin lending: JBWN charge a registration fee of up to NZ$150, and an administration fee of up to NZ$350 for the initial six months of the loan, if the total monthly interest accrued is less than NZ$ International Custody Fees: for clients with International investment assets JBWN charges $250 per year on a quarterly basis for the provision of these custody services Safe custody fees: JBWN or their international agents may charge a fee to provide for the safekeeping of international assets of up to 0.15% per annum of the value of the international portfolio Sundry other fees: JBWere or JBWN may charge administration fees, e.g. for additional report printing or information retrieval requests Late Settlement Fees : JBWere may charge late settlement fees, being the current overdraft rate plus 3%, where securities purchases are not paid by due date Overdraft Fees : JBWN may charge overdraft fees where Premium and Custodial service clients' cash accounts become overdrawn Other Financial Products : We may receive commissions, either direct or via JBWere/JBWN, from other parties where you choose to invest in one of their products. Commissions and fees will vary for each product and will be set out in the relevant offer documents and/or before the investment advice is given Change to Fees: All fees and charges described above are subject to change. Any changes to fees and charges will be disclosed to you on your transaction statements, portfolio reports (if applicable) or otherwise communicated to you. 6. Remuneration AWM receives between 0% and 50% of the total brokerage and premium fees paid by you to JBWere/JBWN under clauses 3.2 and 5.3 above. All other fees and charges, including custodial fees in clause 5.4, do not form part of any remuneration AWM receives and remain with JBWere or JBWN Any remuneration received by AWM is used to pay the costs incurred in providing advice and operating AWM s business I receive a salary from AWM I am a beneficiary in a trust which is a shareholder in AWM. That trust may from time to time receive dividends from AWM. 7. Qualifications 7.1. I have satisfied the requirements of the Code of Professional Conduct for AFAs necessary to become an AFA 7.2. In addition, I have the following qualifications: Batchelor of Commerce (1974) Standard Set D Investment specialist standards - National Certificate in Financial Services (Financial Advice - Level 5) 2011 Aspiring Wealth Management Hamish Taylor Disclosure Statement 5