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      Treating Clients Fairly

     What our clients say about us ..
"I like New Zealand Financial Planning because I know I am getting the best advice. I do not need to worry about my investments or spend lots of time deciding what I will do." - Victor MacGill
"I have always felt like a friend rather than a client." - Bruce Milne
"New Zealand Financial Planning always makes itself available to respond to my financial needs whether they are large or small. I appreciate the quick and thorough response written in a language that is so clearly explained and easy to understand." - Maree Hamilton-Chisholm
"We would recommend NZ Financial Planning to others because we know they are a company of great integrity who care about their clients." - G Hyde
"Every now and then I have an issue to discuss and NZFP have always been available, approachable and given great advice." - Victor MacGill
"I like that nothing is too much trouble for NZFP when I have questions or if I’m not too sure of any ongoing conditions in the financial world." - Joyce Shield
"I would recommend NZ Financial Planning to others because they can be trusted and my experience with them give me confidence in their processes for investment. " - Hon Margaret Austin
"We would recommend NZ Financial Planning to others primarily because of their professionalism over the years and their wisdom in not getting associated with finance companies. A good recommendation." - A G Robertson

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Treating Clients Fairly (TCF) Charter

NZFP is committed to the consistent delivery of fair client outcomes to the extent that the company has chosen to develop a charter based on the UK Financial Services Authority ‘Treating Clients Fairly’ initiative.

The way in which clients are treated is driven by the company culture. The culture of an organisation drives the behaviour of its management and staff and therefore their actions, which in turn determine client outcomes. NZFP therefore recognises that TCF must become an integral part of all aspects of the company’s business philosophy including the key cultural influences of leadership, strategy, decision-making, controls, internal communication, recruitment, training and competence and reward.

NZFP are committed to the following TCF outcomes:

  1. Clients are confident that that ‘treating clients fairly’ is central to the business culture of NZFP.

  2. Advice given and products and services recommended by NZFP are tailored to meet the needs of individual clients.

  3. Clients are provided with clear information and are kept appropriately informed throughout their relationship with NZFP.

  4. Clients are provided with products that perform as NZFP have led them to expect.

  5. Clients do not face unreasonable barriers to change products, switch provider, submit a claim or make a complaint

  1. Clients believe that ‘treating clients fairly’ is central to the business culture
    of NZFP.

    1. Leadership — Fair treatment of clients is central to the behaviour and values of all advisers and management and they apply controls and monitoring to ensure that the desired outcomes are delivered by their staff.
    2. Strategy — The firm has a clear vision which supports TCF. TCF is reflected within the formulation and implementation of strategic decisions (including change management programmes). The firm’s risk appetite reflects consumer considerations.
    3. Decision making — Decision making reflects the spirit of TCF. The company uses staff, consumer and other appropriate external feedback in a timely action. The interests of clients are properly balanced against those of shareholders (and other stakeholders).
    4. Controls — Controls, including management information, are integral to the company’s risk framework, protect the consumer, identify weaknesses and are used by the company to improve its treatment of clients.
    5. Internal communication — The firm has a clear communication strategy, from the top to bottom, delivered by key personnel with employees tested on their understanding and quality of implementation.
    6. Recruitment, training and competence — Positive behaviours and attitudes to TCF are key criteria in the selection of staff. Effective training and the maintenance of staff behaviours and values is core to the business.
    7. Reward — The company’s performance management framework is transparent, recognises quality and supports achievement of the five consumer outcomes.

  2. Advice given and products and services recommended by NZFP are tailored to meet the needs of individual clients.

    1. NZFP ensures any recommended investment strategy matches the risk profile and needs of the individual client.
    2. All new product development goes through the Investment Management Committee (IMC), to ensure it meets both client needs and the company’s investment philosophy.
    3. Previously recommended and existing investments are continually reviewed to ensure ongoing suitability.
    4. Investment strategies are developed with favourable tax and any legislative changes in mind.
    5. NZFP is a fees-based financial planning advisery business. There are no sales targets, bonuses or incentives for advisers to recommend any particular product or service. Should an instance occur where a commission is payable for any reason, this will be fully disclosed.

  3. Clients are kept up to date with clear information throughout their relationship with NZFP while the company actively encourages client communication.

    1. All costs associated with advice, recommendations, plans and products are relayed to the client prior to any engagement of professional services.
    2. Once a financial plan is put forward, the client is encouraged to ask for more information at any time and/or to request any alterations.
    3. NZFP offers a number of communication styles to ensure individual clients receive information in the way that best suits them.
    4. The financial plan is subject to an audit process.
    5. An up-to-date record of all client contact is maintained to ensure there is a clear history of communications.
    6. Clients receive regular, ongoing written information and reviews of their investment portfolio and/or financial plan.
    7. Advisers are available to discuss all written communication to ensure that it is understood by the client.
    8. Clients are encouraged to provide feedback on any aspects of the company’s services at any time, in the knowledge that it will be used to measure the company’s performance and to potentially further develop or amend strategies, products and services.
    9. The company’s communications are all in plain English.

  4. Clients are provided with products that perform as NZFP have led them to believe.

    1. As a component of sound portfolio construction, NZFP uses optimisation and portfolio modelling to estimate the likely risk/return outcomes.
    2. NZFP applies a 95% degree of accuracy/predictability to the range of outcomes in financial and portfolio modelling.
    3. NZFP only recommends investments or investment strategies once due diligence and quality standards have been verified and approved by the NZFP Investment Management Committee.
    4. NZFP recognises that they are dealing with a high number of variables not only in the investment markets but also with client’s personal circumstances. The company executes a high level of ongoing monitoring and scrutiny to maximise awareness of such variables. In addition, the company’s investment approach is under constant review to allow for continuous improvement.

  5. Clients do not face unreasonable barriers to change products, switch provider, submit a claim or make a complaint.

    1. Portfolios are constructed to be as flexible and liquid as possible. As a consequence, the company tends to recommend managed funds and/or listed tradeable securities. When buying bonds and income securities, NZFP targets those where there is a well-functioning secondary market. Where possible, investments which are locked-in or could become illiquid are avoided.
    2. Providing they are liquid and able to be sold at the time, client funds are available for withdrawal within the timeframe detailed in the relevant investment statement.
    3. For clients who utilise the company’s ongoing monitoring services, there are no additional fees for advice in respect of changes and/or termination of investments.
    4. NZFP endeavours to offer investments that do not usually apply additional exit fees.
    5. Once a final decision has been made to sell or switch investments or to terminate the company’s appointment as adviser, NZFP undertake to action the client’s instructions in a prompt and efficient manner.
    6. The complaint process, should it be required is straightforward and included in all investment and disclosure statements. In addition, the company welcomes feedback at any stage.