Disclosure Statement

Financial Advice – Disclosure

The information explains important information about Savvy Saver and how it provides advice.

License status and conditions

Savvy Saver Limited (FSP1008091) holds a license issued by the Financial Markets Authority to provide financial advice.

Nature and scope of the financial advice given

Savvy Saver provides advice on KiwiSaver schemes to our clients via our online digital advice tool. The financial advice provided using the digital advice tool will take into account the information you provide about your particular goals, financial situation or objectives for your KiwiSaver.

The KiwiSaver advice is limited to advice on the type of fund and the KiwiSaver scheme provider.

Savvy Saver does not provide advice on the performance of your existing KiwiSaver scheme or compare your KiwiSaver with other similar schemes. You will need to consult a specialist if you wish to compare KiwiSaver schemes.

If you work with one of Savvy Saver’s financial advisers, you confirm that the financial adviser is both:

advising you; and
authorised to act on your behalf in relation to your investment and membership in the selected KiwiSaver Plan, including:

making enquiries about the investment generally and requesting and receiving reports and other documents relating to your investment;
updating administrative details such as your prescribed investor rate, address and bank account; and switching funds within the selected KiwiSaver Plan and/or the selected Investment Funds.

By joining Savvy Saver, you authorise your selected KiwiSaver provider to:

disclose all information about you and your KiwiSaver Funds account to Savvy Saver
accept and act on instructions from Savvy Saver to manage your KiwiSaver Funds account on your behalf,
obtain from Savvy Saver all information about you as required by the KiwiSaver provider to fulfil its anti-money laundering, foreign tax reporting and other legal obligations in relation to your KiwiSaver account

Savvy Saver will provide advice on KiwiSaver from the following providers we have arrangements with.

KiwiSaver Scheme Providers

Generate Investment Management Limited, Milford Asset Management limited, New Zealand Funds Management Limited, Pathfinder Asset Management Limited.

Savvy Saver does not provide advice on other types of Investment, Insurance or Lending products.

Fees payable for the financial advice

Savvy Saver does not charge any fees, expenses or any other amounts for financial advice given. If you choose to invest in the Milford KiwiSaver, there will be a $150 advice fee taken from your balance.

Conflicts of interest, commissions and incentives

The KiwiSaver scheme provider pays Savvy Saver a fee of $0 - $300 for the advice Savvy Saver provides to its clients and thereafter 0% - 0.50% per annum on our client’s KiwiSaver balance for ongoing advice and services.If you have chosen the Milford KiwiSaver Scheme, they will pay Savvy Saver $150.00 out of your KiwiSaver balance for the initial advice.

Savvy Saver aims to identify and manage any potential conflicts of interest. To ensure that Savvy Saver prioritises our client’s interests, Savvy Saver follows an advice process to ensure that recommendations are made on the basis of the client’s goals and circumstances. The recommendations includes options on three KiwiSaver providers.

Savvy Saver completes ongoing reviews of the digital advice tool, tests it under various scenarios and obtains an independent compliance review annually by a reputable compliance consultancy firm.

Internal complaints process

If you have a problem, concern, or complaint about any part of the financial advice you have received from us, you may contact us using any of the following means:

in writing to: Complaints Officer, Savvy Saver Limited
Address: Suite 8, 211 Ferry Road, Waltham, Christchurch, 8011, New Zealand
by telephone: 0800 468 282
by email: info@savvysaver.co.nz

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.

Dispute resolution process

If our internal complaints process does not resolve your complaint to your satisfaction, you can contact our external independent dispute resolution scheme. This service is free and may help investigate or resolve the complaint.

We are a member of the Financial Dispute Resolution Service’s approved dispute resolution scheme. You can contact the Financial Services Complaints Limited at:

Financial Dispute Resolution Service

Address: Level 15, Chorus House, 66 Wyndham Street, Auckland 1010

Postal: P O Box 2272, Wellington 6140

Telephone: 0508 337 337 (freephone if within NZ) or +64 4 381 5047 (if calling outside NZ)

Email: enquiries@fdrs.org.nz

Website: http://www.fdrs.org.nz/

Our duties

Savvy Saver, and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice. We are required to:

give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests
exercise care, diligence, and skill in providing you with advice
meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice)
meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice).

This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz.

The Code of Conduct standards can be read here: https://www.fma.govt.nz/assets/assets/code-of-professional-conduct-for-financial-advice-services.pdf.

Contact Details

Savvy Saver Limited (FSP1008091) is the Licensed Financial Advice Provider.

You can contact us at:

Savvy Saver Limited

Address: Suite 8, 211 Ferry Road, Waltham, Christchurch, 8011, New Zealand

Phone: 0800 468 282

Email: info@savvysaver.co.nz

Website: www.savvysaver.co.nz

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