Disclosure Statement

Here is some key information you need to know to help you understand what type of advice I am able to give you, so that you can make an informed and confident choice when engaging me.

Contact Details

I am a Financial Adviser (FSP1004327) and am giving advice on behalf of Top Right Limited, trading as Modern Financial.

My details are as follows:

Mobile: 021 270 7255
Email: jake@modernfinancial.co.nz
Physical Address: 27 Fincham Road, Raumati Beach, Paraparaumu 5032
Postal Address: 27 Fincham Road, Raumati Beach, Paraparaumu 5032

Nature and Scope of the Advice

I provide financial advice in relation to personal insurances, KiwiSaver, investments and financial planning.
I only provide financial advice about products from the following companies:

For personal insurances, we work with AIA, Asteron, Chubb, Fidelity, Partners Life
For medical insurances, we work with Accuro, AIA, nib, Partners Life
For investment products, we work with Milford Asset Management & NZ Funds
For KiwiSaver products, we work with Milford Asset Management & NZ Funds

We work through the Six Step Financial Advice Process

Establish the Client Relationship - We will agree on the scope of service and discuss what will be included in any advice.

Gather Data - Using the Planolitix Financial Diagnostic tool, we will gather the necessary information about your situation, needs and goals.

Analyse & Evaluating Financial Status - We develop strategies to meet your needs and objectives.

Developing and Presenting Financial Plan Recommendations - We will provide a Letter of Advice, outlining our recommended strategy and how it works to achieve your goals.

Implementation - Make an application to the recommended provider and ensure the best outcomes for you.

Monitor & Review -

We encourage a periodic review of your situation to ensure our advice remains current, and this contact may come in the form of an email, letter or phone call.
Investments have a baseline of 6-monthly reporting, but communications with clients tend to find their own level depending on the level of contact preferred.
We also provide claims services.

Fees & Expenses

When I don't receive commission from the insurer or investment provider: If you request that I provide financial advice and I do not receive a commission from the insurer or investment provider, I may charge you a one-off fee. Any such fee would be agreed and authorised by you in writing before I complete the services and would be based on an estimate of the time spent providing the advice.

For Personal Insurances

It is worth noting that insurers pay initial commissions based on the expectation that a customer relationship will last longer than the 24 month period following issuance of your policy. Where a policy is cancelled or the terms are materially changed before the 24 month period following issuance of your policy, the insurer will claw back a percentage of this initial commission. Depending on circumstances, we will charge a fee of $750 (plus GST, if any), to re-coup costs for work completed over the engagement to that point.

Conflicts of Interest and Incentives

Modern Financial receives all client fees and commissions.

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, if that is not practicable, as soon as practicable after I give you that advice.

All commission structures for Modern Financial are disclosed in our initial disclosure document, and once specifics of the advice are known are disclosed again.

It is also our practice to refuse any ‘introductory commissions’ for referring clients to other third parties such as Solicitors, Accountants, or Property Specialists – if we refer you to someone then it is because we think they can help and not because we want to get paid.

Complaints Handling and Dispute Resolution

If you are not satisfied with our financial advice service you can make a complaint by emailing jake@modernfinancial.co.nz, or by calling: 021 270 7255 You can also write to us at: 27 Fincham Road, Raumati Beach, Paraparaumu 5032.

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 can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact Financial Services Complaints Limited.

Financial Services Complaints Limited 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 contact Financial Services Complaints Limited by emailing complaints@fscl.org.nz or by calling: 0800 347 257.

You can also write to them at: PO Box 5967, Wellington 6140.

Variations

We may at any time vary these terms and this will apply at the date of publication.
An updated document can be requested, but will not be automatically delivered to you.