PWA Disclosure Statement

"At PWA, the client comes first. Our ability to provide totally independent advice, customised to each client, is the foundation of our long-term relationships.

"That’s what makes us different."

Roger Sutherland

License information

Private Wealth Advisers Limited (FSP28141) trading as Private Wealth Advisers Limited holds a licence issued by the Financial Markets Authority to provide financial advice.

Private Wealth Advisers Limited
info@privatewealthadvisers.co.nz
09 308 2975
Level 1, Suite 1, 1 Faraday Street
Parnell
Auckland

Nature and Scope of Engagement

Private Wealth Advisers provides advice to our clients about their investments. Our financial advisers provide financial advice in relation to managed funds, direct equities, bonds, ETFs, listed property trusts, private equity, private credit, on-call cash and term deposits.

Services we offer

• Short term savings
• Investment solutions
• Financial projections/retirement planning
• Cash management
• Cashflow analysis
• Debt management

How we operate

To ensure that our financial advisers prioritise client’s interests above their own, we follow an internationally recognised professional advice process to ensure our recommendations are made on the basis of our client’s goals, objectives and circumstances.

We are required to:

• Give priority to our client’s 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.

Remuneration (what do our services cost?)

For each client engagement we agree a fee for service, prior to the commencement of any billable work.

We discuss the level of engagement required as this will determine the ongoing costs. These can be in the form of fixed annualised costs, an agreed percentage of the total portfolio value (this may be in the vicinity of 0.50% – 2.00% gross p.a. and agreed prior) as well as invoicing on a ‘time in attendance’ basis.

Private Wealth Advisers does not accept commissions from investment providers. In some circumstances, as agreed with the client, Private Wealth Advisers may charge brokerage on direct equity transactions. The cost for preparing a Statement of Advice is determined after an initial conversation and discussed with you prior to the commencement of any work.

Conflicts of interest

We take any perceived or real conflicts of interest very seriously. We avoid, disclose and/or manage any conflicts so that our client’s interests are placed first and foremost. Due to the nature of our fee structure, financial conflicts are largely mitigated.

The main conflict of interest arises from referrals from our non-executive director who will be acting as both trustee and accountant of the client being referred. This individual is also a shareholder of PWA and may benefit in the form of dividend payments and shareholder value.

From time to time, investment managers and other suppliers may provide PWA staff with items of minor value, such as tickets to sporting events, hampers or other gifts similar in nature.

Complaints handling and dispute resolution

If you are not satisfied with our financial advice service you can make a complaint by emailing your adviser or info@privatewealthadvisers.co.nz, or by calling: 09 308 2975.

You can also write to us at:

PO Box 179
Shortland Street
Auckland

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 the Insurance & Financial Services Ombudsman Scheme Inc. Insurance & Financial Services Ombudsman Scheme Inc. provides a free, independent dispute resolution service that may help investigate or resolve your complaint, if we haven’t been able to resolve your complaint to your satisfaction.

You can contact Insurance & Financial Services Ombudsman Scheme Inc. by emailing info@ifso.nz or by calling: 0800 888 202.

You can also write to them at:

IFSO Scheme
PO Box 10-845
Wellington 6143
New Zealand

Privacy/Data Collection

To give our clients the very best advice we need to collect personal information about their financial circumstances. In the digital age that we live in, we take our responsibilities under the Privacy Act 2020 very seriously. Some key points:

• We only collect information relevant to the nature and scope of the advice we are providing
• The accuracy of this information to our advice is critical, this is where we need your help
• Once collected we will protect any client information
• You can request any personal information or ask for it to be amended at any time
• We will only share information where it is necessary to do so in providing the agreed services provided. If this is not part of our normal business we would only consider this with your express consent to do so. However, there are some third parties you may not be aware of that we may need to share your information with such as:  
• Financial Markets Authority (FMA) – the Regulator of financial services in New Zealand
• External compliance agencies we may engage for quality assurance purposes.
• We have policies and procedures for dealing with any data breaches ASAP.
• Any information no longer needed will be destroyed securely.

You can find out more by visiting our Privacy Policy on the link below:

Private Wealth Advisers Privacy Policy