Public Disclosure

Licence Information

Beta Financial Group (FAP FSP 1005491) holds a licence issued by the Financial Markets Authority to provide a financial advice service.

Nature and Scope of the Financial Advice Provided

Beta Financial Group provides financial advice and investment planning services relating to the following financial products:

Personal Risk (Life, Income, Disability & Health Insurances), KiwiSaver, superannuation and investment products:

• NZ Funds
• AIA
• NIB
• Chubb
• Fidelity
• Asteron

Beta Financial Group does not generally provide financial advice on products not listed above. However, some clients may have investments in other financial products. Where this is the case, we may provide advice on those products as part of providing financial advice to these clients.

While I don't provide general insurance as part of my advice, I am able to refer you to Blanket Insurance who have access to some of the most comprehensive policies on the market.

Fees and Expenses

Beta Financial Group may charge the following fees for financial advice:

• an initial advice fee for the time involved in meeting a client, obtaining all necessary information, and preparing and presenting a financial strategy; or
• an ongoing financial advice fee for the provision of ongoing financial advice services.

To ensure that personal risk insurance advice remains accessible, Beta Financial Group Limited does not charge an upfront fee for providing personal risk insurance advice or for implementing insurance advice if you decide to proceed.

Duties

Beta Financial Group, and anyone who gives financial advice on our behalf, have legal duties relating to the way that we give advice. We must:

• give priority to our clients’ 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 the 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); and
• 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 that 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 www.fma.govt.nz.

Conflicts of Interest, Commissions and Incentives

Our financial advisers are remunerated by way of salary, bonus and commission.

Beta Financial Group may receive commissions from the managed investment scheme providers in whose products our clients invest, insurance companies on whose policies we provide financial advice, and referral fees from professional advisers we refer clients to. These commissions are based on a fixed rate per client, the amount of sum invested or insurance premiums paid.

To ensure that Beta Financial Group’s financial advisers prioritise each client’s interests above their own, they follow an advice process that is designed to ensure their recommendations are made on the basis of the client’s circumstances and financial goals and are suitable for the client. Beta Financial Group also:

• has a quality assurance programme in place to monitor the advice our financial advisers provide;
• actively monitors compliance with our conflicts policies and procedures; and
• ensures training is provided to all Beta Financial Group financial advisers about how to manage conflicts of interest.

Complaints Handling and Dispute Resolution

Even with the best of intentions, complaints sometimes arise. Beta Financial Group 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 are not satisfied with our financial advice services, you can make a complaint by contacting us at:

Beta Financial Group
26 Spur Ridge Rise
Jacks Point, Queenstown 9371
t: 021 2855 755
e: angharad@betafinancial.co.nz

When we receive a complaint, we will consider it 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 28 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 Fairway Dispute Resolution Services an approved dispute resolution scheme who provide a free, independent dispute resolution service that may help investigate or resolve your complaint.

You can contact Fairway Dispute Resolution Services at enquiries@fdrs.org.nz or 0508 337 337.