Scheme Manager Advice Disclosure
Advice provided by the managers of Britannia's investment products
Britannia Financial Services Limited (FSP10221) and Britannia Nominees Limited (FSP30686), trading together as Britannia (collectively referred to as Britannia, we, ourselves, our or us in this statement), each hold a licence issued by the Financial Markets Authority to provide a financial advice service. We only provide financial advice in relation to managed investment and superannuation schemes (“schemes” or “investment products”) provided by us. We do this because we want our members to make properly informed decisions when investing in, withdrawing from or changing funds within our schemes.
Nature and Scope of the Advice
We provide financial advice through risk profile, fund selection and financial calculation tools to help you decide which scheme or fund within that scheme might be best suited to you and to assist you with making choices about investments in our schemes. We also produce information and reports about our investment products as well as savings and investment markets in general. These tools and this information are designed to help you make good financial decisions in relation to the investment products we provide.
We do not employ financial advisers within our team to provide financial advice as all advice is provided via the tools and information described above. However, where financial advice from a financial adviser is required, we will refer you to our associated financial advice provider, Britannia Financial Planning Limited (FSP40721), or to one of our Britannia accredited financial advisers.
Fees or Expenses
Britannia does not charge fees, expenses or any other amount for any financial advice we provide. However, if you engage our associated financial advice provider, Britannia Financial Planning Limited or one of our Britannia accredited financial advisers to provide you with financial advice, fees, expenses or other amounts may be payable.
Conflicts of Interest and Incentives
A conflict of interest means any interest of Britannia which you may reasonably think is likely to influence financial advice provided to you by us.
When you invest in our schemes we receive fees and charges for our role as scheme manager but not for any financial advice we provide. Further information on these fees and charges is available by reading our latest Fund Updates which can be found at britanniafinancial.co.nz/current-members/.
As part of their remuneration, Britannia staff may receive discretionary incentives. These incentives comprise only a minor proportion of our staff members’ remuneration and are based on considerations relating to overall performance in respect of all Britannia stakeholders, including scheme members, regulators, other staff and shareholders. Some Britannia staff and consultants are our directors and receive fees for their role as directors. Britannia staff, consultants and directors may also be our shareholders and therefore receive shareholder distributions from us.
To ensure we prioritise our clients’ interests:
- We follow a process that aims to ensure all advice provided is appropriate
- We have a conflicts of interest policy and maintain registers of conflicts of interests and gifts received. These registers are monitored regularly, and training on their operation is provided, as required
- We have a Risk and Compliance Manager who is responsible for requiring and reviewing compliance with the conflicts of interest policy
Complaints Handling and Dispute Resolution
If you are not satisfied with our service or financial advice, please tell us as soon as possible so that we can try and resolve this for you to the best of our ability. It is our intention to provide the best possible service we can for our clients and we will do our best to try and resolve any complaint received as quickly and effectively as possible. You can make a complaint by calling 0800 500 811 or emailing email@example.com. You can also write to us at Risk and Compliance Manager, Britannia, PO Box 302 369, North Harbour, Auckland 0751.
If a complaint is received:
- We will consider your complaint and let you know how we intend to resolve it. Where possible, we try to resolve your complaint immediately
- If we are unable to resolve your complaint immediately, we will acknowledge your complaint within 2 working days
- Within 7 working days of receiving your complaint we will:
- Advise who will be dealing with your complaint (this will be someone who was not involved in the original issue)
- Advise the timeframe within which the complaint will be dealt with
- Provide more detailed information on our internal and external dispute resolution process
- Request further information if required
- We will contact you by phone, email or letter to let you know whether we can resolve your complaint and how we propose to do so
If we cannot agree on how to resolve the issue, you can contact our external disputes resolution scheme, the Insurance & Financial Services Ombudsman. The Insurance & Financial Services Ombudsman provides a free and independent dispute resolution service that may help to investigate or resolve your complaint if we have not been able to do so to your satisfaction. To contact the Insurance & Financial Ombudsman you can:
Call: 0800 888 202
Write to: PO Box 10-845, Wellington 6143
Britannia has duties under the Financial Markets Conduct Act 2013 relating to the way we give advice. When providing 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 applicable 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 we treat you fairly, and give you suitable advice)
This is only a summary of the duties that Britannia has. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz.
To contact Britannia Financial Services Limited (FSP10221) and Britannia Nominees Limited (FSP30686), trading together as Britannia are the Financial Advice Providers you can:
Call: 0800 500 811
Write to: Britannia, PO Box 302 369, North Harbour, Auckland 0751