Important Information
The following information provides you with an important overview of wealthhq, our duties to you, fees, and how we manage complaints.
License Status and Conditions
wealthhq limited, FSP764012, trading as wealthhq holds a financial advice providers (FAP) license issued by the Financial Markets Authority.
Nature and Scope of the Advice
wealthhq provides a money management tool to build and design savings plans. wealthhq provides financial advice to our clients regarding their risk and personal insurance needs, as well as asset finance. wealthhq has access to the following insurance companies and asset lenders:
Kiwisaver:
- Milford
- Booster
- Generate
- NZ Funds
Insurance:
- AIA
- Chubb NZ (previously Cigna)
- Fidelity Life
- nib
- Partners Life
- Southern Cross
Asset Lenders:
- Oxford Finance
Fees and Expenses:
Generally speaking, wealthhq does not charge for it’s advice. However, in certain situations where the client’s requirement may be more complex, wealthhq may charge a fee for offering the financial advice. The exact fees we will charge will be confirmed before the advice is provided and the client can decide to proceed or not.
Wealthhq may charge an enrollment fee in certain circumstances. The exact fees we will charge will be confirmed before the advice is provided to give the client time to decide if they want to proceed.
Conflicts of Interest and Incentives
wealthhq has strong working relationships with New Zealand based insurers and asset lenders. These relationships allow us to provide competitive pricing and help us meet our expected service expectations to a high standard.
If you take out an insurance policy or draw down on asset finance advice, wealthhq will be paid a commission from the applicable product provider (insurance company etc).
The commission payable for insurance is between 45% and 230% of the first year’s premiums of your policy. The amount depends on which insurance company and which insurance products you choose. There is also an additional commission of between 5% and 10% of the premium for each year the policy remains in force. wealthhq will also be paid a commission in the event of an asset finance loan being drawn down. The amount payable will be 0.5% of interest rate, minus the interest rate cost.
Our advisers receive a salary as an employee of wealthhq. They are eligible to receive a bonus each quarter of a certain level of overall performance is achieved. The performance incentive accounts for (but not limited to) individual financial targets, quality of work, and team performance.
From time to time, product providers may also reward us for the overall business we provide to them. They may give us tickets to events, hampers or take us out for lunch.
To ensure that our financial advisers prioritise our clients interests above their own, we pay our advisers on a salary basis.
Wealthhq policy is to only engage with clients where there is a clear material benefit to be gained for our clients, otherwise, we will refuse to engage. We do not want to waste your time if we do not think we can or should help.
Wealthhq have clear ‘conflict of interest’ policies and procedures. Our financial advisers follow an advice process that ensures our recommendations are made on the basis of each client’s goals and circumstances. All our financial advisers undergo regular training about how to manage conflicts of interests. We undertake a compliance audit, and review of our compliance program annually, completed by an external compliance adviser.
Complaints and Disputes
If you are not fully satisfied with the service provided by an wealthhq adviser, please contact your adviser, or wealthhq directly. The complaints manager is available at [email protected]
The wealthhq complaints officer will acknowledge your complaint in writing within 2 business days, and endeavour to resolve your complaint in a timely manner. You can find more about our complaints process online on the next tab, titled disputes and complaints.
Our Duties
Wealthhq and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way we give advice.
We are required to:
- Give priority to your interests by taking all reasonable steps to make sure our advice is not 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 that we have the expertise needed to provide you with advice)
Contact Details
wealthhq limited holds a financial advice provider licence issued by the Financial Markets Authority.
You can contact us at:
- Phone: 0800 762 711
- Email: [email protected]
- Post: The Promenade Building Unit C9/1c Ara-Tai Road, Half Moon Bay, Auckland 2012
You can download this important information about disputes and complaints here.
At wealthhq, we are focused on providing excellent client service and quality advice. We only try to help when we can see that our solutions will put you in a better situation. Our business focus and key endeavour is to help clients plan towards purchasing a first property, and protect their financial situation through fit for purpose insurance solutions.
If you do not believe we have delivered on this promise, we would like to hear your comments.
Complaints are a valuable way to maintain and improve our standards.
If you have a complaint regarding our adviser’s service, explanations, product outcomes, or do not believe we have met the requirements outlined in our disclosure and/or Nature and Scope of our Advice; we would like to hear from you.
We prefer that you contact your adviser first. If you do not feel comfortable in doing this, or believe the complaint will not be resolved, you can contact mortgagehq’s compliance officer using the following methods. You should always feel comfortable contacting the managing director directly or by CC’ing him into correspondence with the adviser.
Phone: 021 424 027. Email: [email protected]. Andrew Malcolm – Managing Director.
We handle complaints first, internally, with an open mind and discuss the complaints handling process in a transparent manner. We will endeavour to resolve your complaint to your satisfaction, within 5 business days. If we have not resolved your complaint within this timeframe, we will outline why, what action is underway and an understanding of the timeframe for resolution.
If you are unable to resolve your complaint with wealthhq directly, you may refer it to Financial Services Complaints Limited (FSCL) of which wealthhq is a member. FSCL is an approved independent dispute resolution scheme that handles complaints in the financial services industry, including financial advisers.
This service is FREE to customers.
Further information is available at www.fscl.org.nz, and is also able to be contacted by phoning them on 0800 347 257.
- APPLICATION OF TERMS
- These Terms apply to your use of the Website. By accessing and using the Website:
- you agree to these Terms; and
- where your access and use is on behalf of another person (e.g. a company), you confirm that you are authorised to, and do in fact, agree to these Terms on that person’s behalf and that, by agreeing to these Terms on that person’s behalf, that person is bound by these Terms.
- If you do not agree to these Terms, you are not authorised to access and use the Website, and you must immediately stop doing so.
- These Terms apply to your use of the Website. By accessing and using the Website:
- CHANGES
- We may change these Terms at any time by updating them on the Website. Unless stated otherwise, any change takes effect immediately. You are responsible for ensuring you are familiar with the latest Terms. By continuing to access and use the Website, you agree to be bound by the changed Terms.
- We may change, suspend, discontinue, or restrict access to, the Website without notice or liability.
- These Terms were last updated on 17 March 2023
- DEFINITIONS
- In these Terms:
- including and similar words do not imply any limit
- Loss includes loss of profits, savings, revenue or data, and any other claim, damage, loss, liability and cost, including legal costs on a solicitor and own client basis
- personal information means information about an identifiable, living person
- Terms means these terms and conditions titled Website Terms of Use
- Underlying System means any network, system, software, data or material that underlies or is connected to the Website
- User ID means a unique name and/or password allocated to you to allow you to access certain parts of the Website
- We, us or our means wealthhq limited.
- Website means https://whq.co.nz
- You means you or, if clause 1.1b applies, both you and the other person on whose behalf you are acting.
- In these Terms:
- YOUR OBLIGATIONS
- You must provide true, current and complete information in your dealings with us (including when setting up an account), and must promptly update that information as required so that the information remains true, current and complete.
- If you are given a User ID, you must keep your User ID secure and:
- not permit any other person to use your User ID, including not disclosing or providing it to any other person; and
- immediately notify us if you become aware of any disclosure or unauthorised use of your User ID, by sending an email to [email protected]
- You must:
- not act in a way, or use or introduce anything (including any virus, worm, Trojan horse, timebomb, keystroke logger, spyware or other similar feature) that in any way compromises, or may compromise, the Website or any Underlying System, or otherwise attempt to damage or interfere with the Website or any Underlying System; and
- unless with our agreement, access the Website via standard web browsers only and not by any other method. Other methods include scraping, deep-linking, harvesting, data mining, use of a robot or spider, automation, or any similar data gathering, extraction or monitoring method.
- You indemnify us against all Loss we suffer or incur as a direct or indirect result of your failure to comply with these Terms, including any failure of a person who accesses and uses our Website by using your User ID.
- INTELLECTUAL PROPERTY
- We (and our licensors) own all proprietary and intellectual property rights in the Website (including all information, data, text, graphics, artwork, photographs, logos, icons, sound recordings, videos and look and feel), and the Underlying Systems.
- DISCLAIMERS
- To the extent permitted by law, we and our licensors have no liability or responsibility to you or any other person for any Loss in connection with:
- the Website being unavailable (in whole or in part) or performing slowly;
- any error in, or omission from, any information made available through the Website;
- any exposure to viruses or other forms of interference which may damage your computer system or expose you to fraud when you access or use the Website. To avoid doubt, you are responsible for ensuring the process by which you access and use the Website protects you from this; and
- any site linked from the Website. Any link on the Website to other sites does not imply any endorsement, approval or recommendation of, or responsibility for, those sites or their contents, operations, products or operators.
- We make no representation or warranty that the Website is appropriate or available for use in all countries or that the content satisfies the laws of all countries. You are responsible for ensuring that your access to and use of the Website is not illegal or prohibited, and for your own compliance with applicable local laws.
- To the extent permitted by law, we and our licensors have no liability or responsibility to you or any other person for any Loss in connection with:
- LIABILITY
- To the maximum extent permitted by law:
- you access and use the Website at your own risk; and
- we are not liable or responsible to you or any other person for any Loss under or in connection with these Terms, the Website, or your access and use of (or inability to access or use) the Website. This exclusion applies regardless of whether our liability or responsibility arises in contract, tort (including negligence), equity, breach of statutory duty, or otherwise.
- Except to the extent permitted by law, nothing in these Terms has the effect of contracting out of the New Zealand Consumer Guarantees Act 1993 or any other consumer protection law that cannot be excluded. To the extent our liability cannot be excluded but can be limited, our liability is limited to NZD100.
- To the maximum extent permitted by law and only to the extent clauses 7.1 and 7.2 of these Terms do not apply, our total liability to you under or in connection with these Terms, or in connection with the Website, or your access and use of (or inability to access or use) the Website, must not exceed NZD350
- To the maximum extent permitted by law:
- PRIVACY POLICY
- You are not required to provide personal information to us, although in some cases if you choose not to do so then we will be unable to make certain sections of the Website available to you. For example, we may need to have your contact information in order to provide you with updates from our Website.
- When you provide personal information to us, we will comply with the New Zealand Privacy Act 2020.
- The personal information you provide to us (including any information provided if you register for an account) is collected and may be used for communicating with you, statistical analysis, providing you with financial analysis and options, providing you with relevant educational materials, the marketing by us of products and services to you, credit checks (if necessary), and research and development.
- We may also collect technical information whenever you log on to, or visit the public version of, our Website. This may include information about the way users arrive at, browse through and interact with our Website. We may collect this type of technical information through the use of cookies and other means. Cookies are alphanumeric identifiers that we transfer to your computer’s hard drive to enable our systems to recognise your browser. If you want to disable cookies, you may do so by changing the settings on your browser. However, if you do so, you may not be able to use all of the functions on the Website. We use the technical information we collect to have a better understanding of the way people use our Website, to improve the way it works and to personalise it to be more relevant and useful to your particular needs. We may also use this information to assist in making any advertising we display on the Website more personalised and applicable to your interests.
- Generally, we do not disclose personal information to third parties for them to use for their own purposes. However, some of the circumstances in which we may do this are:
- to service providers and other persons working with us to make the Website available or improve or develop its functionality (e.g. we may use a third party supplier to host the Website);
- in relation to the proposed purchase or acquisition of our business or assets; or
- where required by applicable law or any court, or in response to a legitimate request by a law enforcement agency.
- Any personal information you provide to us may be stored on the secure servers of our trusted service providers, which may be located outside New Zealand. This may involve the transfer of your personal information to countries which have less legal protection for personal information than New Zealand.
- You have the right to ask for a copy of any personal information we hold about you, and to ask for it to be corrected if you think it is wrong. If you’d like to ask for a copy of your information, or to have it corrected, please contact us at [email protected], or 021 118 9018, or Office 1 C9 Ara Tai Drive, or PO BOX 54229, The Marina, Auckland 2144.
- SUSPENSION AND TERMINATION
- Without prejudice to any other right or remedy available to us, if we consider that you have breached these Terms or we otherwise consider it appropriate, we may immediately, and without notice, suspend or terminate your access to the Website (or any part of it).
- On suspension or termination, you must immediately cease using the Website and must not attempt to gain further access.
- GENERAL
- If we need to contact you, we may do so by email or by posting a notice on the Website. You agree that this satisfies all legal requirements in relation to written communications.
- These Terms, and any dispute relating to these Terms or the Website, are governed by and must be interpreted in accordance with the laws of New Zealand. Each party submits to the non-exclusive jurisdiction of the Courts of New Zealand in relation to any dispute connected with these Terms or the Website.
- For us to waive a right under these Terms, the waiver must be in writing.
- Clauses which, by their nature, are intended to survive termination of these Terms, including clauses 5, 5, 6, 7, 10.1, continue in force.
- If any part or provision of these Terms is or becomes illegal, unenforceable, or invalid, that part or provision is deemed to be modified to the extent required to remedy the illegality, unenforceability or invalidity. If a modification is not possible, the part or provision must be treated for all purposes as severed from these Terms. The remainder of these Terms will be binding on you.
- These Terms set out everything agreed by the parties relating to your use of the Website and supersede and cancel anything discussed, exchanged or agreed prior to you agreeing to these Terms. The parties have not relied on any representation, warranty or agreement relating to the Website that is not expressly set out in the Terms, and no such representation, warranty or agreement has any effect from the date you agreed to these Terms.