LICENSING INFORMATION

Sheryl Sutherland, FSP28246, is a financial advisor who is the managing director of The Financial Strategies Group Ltd, FAP771591.  The Financial Strategies Group Ltd, FAP771591, holds a license issued by the FMA to provide financial advice.

NATURE AND SCOPE OF ADVICE

The Financial Strategies Group Ltd, FAP771591, provides advice about investments, life insurance, trauma and income protection insurance, retirement planning for income, capital growth and KiwiSaver.

For insurances we work with AIA, Cigna, Fidelity Life, Partners Life.  We provide comparative advice.

For KiwiSaver we provide comparative advice, Booster is our preferred provider.

For investment we use two platforms, Aegis and FNZ which give us access to thousands of fund managers, currencies, bonds and direct equities.

FEES OR EXPENSES

For investment advice, The Financial Strategies Group Ltd, FAP771591, will charge a fee for the financial advice provided to a client.  This fee will be payable by the client by the 20th of the month following when the Statement of Advice is provided to the client.

The Financial Strategies Group Ltd, FAP771591, may charge a fee for the financial advice provided to a client where a client cancels a life or health insurance policy within two years of inception.  Whether a fee will be charged and the manner in which it will be charged will be advised when the advice is provided to the client.  This fee will be payable by the client by the 20th of the month after the policy is cancelled.

PRODUCT PRODUCT PROVIDER MAX INITIAL BROKERAGE AS A % OF AP ONGOING % OF AP
Initial Interviews
  • First 30 minutes, an opportunity to assess mutual
  • Charged out in 10 minute segments (Principal)
  • No Charge
  • $380 Per Hour
Comprehensive Financial Plan
  • Comprehensive analysis of a client’s financial situation summarised in a Comprehensive Financial Plan. This Plan covers: cash management, risk management (insurances), investment planning, retirement planning, estate planning and relevant background notes on investing.
  • (Expected time: Client: 3 hours, Planner: 8-12 hours including meetings, research and implementation of the recommendations)
  • $500 – $3000
Investment Plan
  • Preparation and implementation of investment recommendations, where it is deemed a full financial plan is not appropriate.
$500 – $2,000*
Written report for Insurance Quotes, or other issues
  • Gathering of data, preparation of insurance quotes and a written report.
$380 per hour Principal
$150 Support Staff
On-Going Service Programme
  • Financial and investment review service. Includes review of financial strategy, risk profile, investments and insurance.
  • Regular access to adviser on financial/investment matters.
  • Hourly charge for work performed over the contracted service, or on a transactional basis.
$280 per hour
Business Succession Planning and Protection
  • Comprehensive Business Financial plan looking at business structure, risk management, key person insurance protection, succession planning for shareholders, correct structure using Trusts for protection and tax benefits.
$3,000 – $5,000 *

* (dependent on the degree of complexity)

Brokerages & Commissions
  • Dependent on the size of the investment.  Maximum brokerage fees are discussed in the Adviser’s comprehensive brokerage schedule.
Typically range from 0% – 3.5%
All other Consultation Services • Work carried out by administration staff.
• Work carried out by the principal.
  • $150 per hour
  • $380 per hour

CONFLICTS OF INTEREST AND INCENTIVES

For life insurance and health insurance, The Financial Strategies Group Ltd, FAP771591, and the financial adviser receive commissions from the insurance companies on whose policies we give advice. If you decide to take out insurance, the insurer will pay a commission to The Financial Strategies Group Ltd, FAP771591, and your financial adviser. The amount of the commission is based on the amount of the premium.  As a fiduciary The Financial Strategies Group Ltd, FAP771591, prioritise our clients’ interests above their own, we follow an advice process that ensures our recommendations are made on the basis of each client’s goals and circumstances. We undergo annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme is undertaken annually by a reputable compliance adviser.  We are fully audited biannually.  In the case of investment clients pay an initial report fee, an implementation fee and monitoring fees.  This is based on the amount of the investment.

If you decide to take our KiwiSaver advice, the provider will pay a commission to The Financial Strategies Group Ltd, FAP771591, and to your financial adviser. The amount of commission is based on the amount of the KiwiSaver balance.

Fees are clearly outlined in our clients reports.

COMPLAINTS HANDLING

‘If you are not satisfied with our financial advice service you can make a complaint by emailing admin@strategies.co.nz or by calling 0800 646 6639.’

 

Internal Complaints Process

Our client complaints process is as follow.

We have a 3-step complaints process:

Step 1 – Complaint

  • Every expression of dissatisfaction made to you or to a person engaged by you, relating to your financial advice service, or the complaints handling process itself, where a response or resolution is explicitly or implicitly expected is treated as a This includes a complaint about a failure to provide a service or give advice.
  • All complaints will be logged in the complaints register.
  • We will resolve the complaint as soon as we can (often immediately if it can be resolved by providing an explanation or information).
  • If the client complaint is not resolved and the client wishes to continue, then the client will be told about our Steps 2 and 3 complaints process in writing.

Step 2 – client complaints

    • The Step 2 complaint will be acknowledged by telephone and in writing (by letter or email as is appropriate) as soon as we can.
    • All Step 2 complaints will be escalated to Sheryl Sutherland as part of our internal complaints process.
    • We will investigate the complaint, obtaining any relevant information required and reconsider the complaint based on its merits. We will respond to the client in writing (“the response”) as soon as we can.
    • If the client does not accept our decision and provides new information or issues, then Sheryl Sutherland, FSP2846, will conduct a further review to determine if the new information or issues affect the response. Sheryl Sutherland, FSP28246, will then write the client a second response (“the second response”) as soon as she can.

Step 3 – final decision and referral to IFSO Scheme

  • If the client does not accept the Step 2 complaint response or the second response and wishes to pursue the complaint, then we will review the response (and/or second response) again as the last stage in our complaints process.
  • If the response remains unchanged, we will advise the client that we have reached the end of our internal complaints process by notifying them of “deadlock” (“the final response”). That means if they want to pursue the complaint, the client can make a complaint to the IFSO Scheme.

Complaints Register

  • All client complaints will be recorded in the complaints register. This will include the date of the complaint, the actions taken to resolve the complaint and the dates of these actions.
  • The complaints register will be reviewed regularly to identify any improvements we can make to the services and/or information we offer clients.

DUTIES INFORMATION

The Financial Strategies Group Ltd, FAP771591, has 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.

RELIABILITY HISTORY

Neither The Financial Strategies Group Ltd FAP771591 nor Sheryl Sutherland FSP28246 have had any negative reliability events i.e. have not been publicly disciplined had any relevant convictions or civil proceedings and, in case of financial advisers, any recent bankruptcies or insolvencies.