Our Disclosure Notice

Licence Information

Hallam Jones Insurance and Superannuation Ltd holds a Class 2 licence issued by the Financial Markets Authority (the government agency that monitors financial advisers). This licence permits Hallam Jones Insurance and Superannuation Ltd and any advisers engaged by Hallam Jones Insurance and Superannuation Ltd, to provide financial advice services regarding the financial products listed in our Nature and Scope of Financial Advice.

You can find us on the Financial Service Register here:

https://fsp-register.companiesoffice.govt.nz/

Our business registration number is FSP38182.

Nature and Scope of the Financial Advice Provided

Hallam Jones Insurance and Superannuation Ltd provides financial advice services relating to the following financial products:

Succession Planning, Financial Planning, Investment, Kiwi Saver, Superannuation, RISK Insurances, Mortgages and Personal Loans.

The providers we work with for these products are listed below:

• Succession Planning and Financial Planning do not have specific providers. Where they involve other products, the providers for those products will be as below.

KiwiSaver, Superannuation, and Investment products:

• NZ Funds
• Booster
• AMP KiwiSaver
• Resolution Life

RISK Insurance products provided by:

• Accuro
• AIA
• Asteron
• Chubb
• Fidelity
• NIB
• Partners Life
• Resolution Life
• Southern Cross

Financial Lending products provided by:

• AIA
• ANZ Bank
• Avanti Finance
• BNZ Bank
• Cooperative Bank
• Xceda
• First Mortgage Trust
• Liberty Finance
• Pepper Money
• Prospa
• Spiers
• Unity
• Westpac Bank
• Zagga

Neither Hallam Jones Insurance and Superannuation Ltd, nor any advisers engaged by us, can provide financial advice on products or providers not listed above.

How we get paid

Hallam Jones Insurance and Superannuation Ltd are mostly paid via commission from the Providers we work with. Hallam Jones Insurance and Superannuation Ltd pay a percentage of that commission to the client’s adviser.

Commission amounts for Hallam Jones Insurance and Superannuation Ltd and the adviser will be disclosed in a Statement of Advice provided to the client by their financial adviser before a product is put in place.

The products we do not receive commission on, and therefore charge one-off fee’s for, are:

• Succession Planning
• Financial Planning
• Investment Planning
• Asset Finance, Domestic, and Commercial Lending – where we are not paid a commission by the lender, we will charge the client a fee
• Where requested by a client, undertaking a specific assignment, for which an agreed consultancy fee may be charged.

Both Lenders and Insurance Providers will clawback a portion of the commission received by Hallam Jones Insurance and Superannuation Ltd if a policy is cancelled or a loan is repaid or moved to another lender within a certain time period.

• For most Insurance Providers, if a policy is lapsed or cancelled within 2 years of being put in place; the Provider will clawback a portion of the commission.
• For most Lenders, if a loan is repaid, refinanced to a new lender, or the property is sold within 28 months of it being drawn down; the Lender will clawback a portion of the commission.

In these instances, Hallam Jones Insurance and Superannuation Ltd have essentially done the work for no pay.

To ensure we are fairly compensated for the time, resources, and work completed on the client’s behalf; Hallam Jones Insurance and Superannuation Ltd may charge a fee to client which will be no more than the amount clawed back by the lender or insurance provider.

Any fees, including possible clawback fees, which may be charged are a realistic estimate of the time, resources, and work completed for our advice services.

Any applicable fees, including possible clawback fees, will be explained to the client and their formal acceptance of these fee’s will be required before any planning takes place or product application undertaken.

Duties

Hallam Jones Insurance and Superannuation Ltd and your adviser have duties under the Code of Professional Conduct for Financial Advice Services 2013 (Code of Conduct), Financial Markets Conduct Act 2013 (FMC Act 2013), and Financial Services Legislation Amendment Act 2019 (FSLA Act 2019); relating to the way they give advice. They are required to:

• Meet certain standards of competence, knowledge, and skill to ensure that we have the relevant expertise to provide you with advice.
• Take reasonable steps to ensure that you understand the nature and scope of advice we give you and let you know if there are any limitations on the advice we provide. This will help you ensure the advice provided meets your goals and objectives.
• Give priority to your interest, by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests.
• Exercise a prudent level of care, diligence, and skill.
• Meet certain standards of ethical behaviour, conduct, and client care to ensure that we treat you as we should and give you suitable advice.
• Not offer or recommend a financial product that contravenes the Code of Conduct, FMC Act 2013, FSLA Act 2019, or related regulations. This gives you peace of mind that the products we recommend are compliant with current laws.
• Make certain disclosure information available to you, at appropriate times, for example when advice is provided.
  We must not provide false, misleading, or incomplete information.
• We must not provide false, misleading, or incomplete information.

This is only a summary of the duties that we have. More information is available by contacting us, or by visiting https://financialadvicecode.govt.nz/ for a full copy of the Code of Professional Conduct for Financial Advice Services 2013. You can also find a copy of the Financial Markets Contact Act 2013 and the Financial Services Legislation Amendment Act 2019 on www.legislation.govt.nz.

Conflicts of Interest, Commissions, and Incentives Statement

Hallam Jones Insurance and Superannuation Ltd has spent many years forging relationships with local and international providers for all of our products. The purpose of this is to provide our clients with outstanding choice, competitive pricing and coverage options, and policy support services.

Some of the providers we have built relationships with will send the business or our advisers’ gifts, which can be seen as an incentive or conflict of interest. These gifts can come in the form of business lunches, tickets to sporting and/or cultural events, corporate promotional merchandise, and other unquantifiable minor benefits.

To minimise any conflict of interest arising from the receipt of gifts, we take the following steps:

1. We have a gifts and incentives policy which all staff and advisers are required to follow.
2. We track all gifts received in a gifts register.
3. We return any inappropriate gifts, or gifts which we consider could cause a conflict of interest.

Hallam Jones Insurance and Superannuation Ltd is largely remunerated by commissions received from providers. We recognise these may create conflicts of interest and take the following steps to minimise and manage any conflict of interest.

1. We ensure our advisers undergo training for identifying and managing conflict of interest.
2. We undertake compliance audits of our financial advisers.
3. We annually audit our conflict of interest and compliance framework.
4. Hallam Jones Insurance and Superannuation Ltd is largely remunerated by commissions received from providers. We recognise these may create conflicts of interest and take the following steps to minimise and manage any conflict of interest.
5. Before putting a product in place, we will:
6. Declare any commissions that Hallam Jones Insurance and Superannuation Ltd will be receive from the relevant provider/s.
7. Ensure the client/s understand and agree to any advice fees.
8. Ensure the client/s understand and agree to the adviser’s product and provider recommendations.

Complaints Handling and Disputes Resolution

Even with the best of intentions, complaints sometimes arise. Hallam Jones Insurance and Superannuation Ltd is committed to ensuring that all client complaints are handled and resolved in a professional, fair, and timely manner, in accordance with our Client Complaints Policy and associated procedures.

If you have a problem, concern, or complaint about any part of the service provided; you may contact the internal complaints scheme by telephoning Rebecca Loveridge, our Complaints Officer, on (07) 348 3161 or via email to rebecca@hallamjones.co.nz or in writing to Hallam Jones Insurance and Superannuation Ltd at PO Box 1100, Rotorua 3040.

When we receive the complaint, we will consider it following our internal complaints process:

1. We will log the complaint in our system.
2. We will consider the complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.
3. We aim to resolve complaints within 10 working days of receiving them. If we cannot, we will contact you within that time to let you know we need more time to consider your complaint.

We record all complaints so we can learn and improve our business and client experience. All records are kept confidential per the Privacy Act 2020.

If we cannot resolve your complaint, or you are not satisfied with the way we propose to do so, you can contact Financial Services Complaints Ltd (FSCL) – A Financial Ombudsman Service.

FSCL is our independent external ombudsman and dispute resolution service that has been approved by the Minister of Consumer Affairs under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. FSCL can help investigate or resolve your complaint if we have not been able to resolve your complaint to your satisfaction. FSCL’s service is free of charge to you.

You can contact Financial Services Complaints Ltd at:

Address:
Financial Services Complaints Limited
PO Box: 5967
Wellington 6140

Phone: 0800 347 257

Email: complaints@fscl.org.nz

Website: www.fscl.org.nz