our business details.

PH Wealth Management Limited (FSP 26381), trading as “phwealth”, holds a licence issued by the Financial Markets Authority to provide financial advice.

the services we provide.

• Financial advice
• Investment advice
• Financial planning, including designing investment plans

products we advise on.

• Managed investment funds and exchange traded funds (ETFs) available to be distributed in New Zealand. 
• KiwiSaver and superannuation schemes
• The phwealth Discretionary Investment Management Service (DIMS)

In relation to DIMS advice, we only advise on the DIMS that we provide. 

Except in relation to DIMS, we are not restricted to any organisation’s products other than that they meet our requirements.

our fees.

We charge fees for advice and services we provide.  We will discuss and agree the actual fees with you in writing once we know what your needs are, before we proceed, and explain how they are payable. The types of fees that may apply:

One-off fees 

• We quote a fee in advance for written advice and financial  planning. This fee is payable by the client by the 20^th of the month following the written advice.
• We charge a fee for implementing investment advice and placing client funds into the markets as a fixed dollar amount.

On-going fees

• An investment advisory and monitoring fee is charged on the client’s daily balance and paid monthly to phwealth as a percentage of funds under advice.
• An administration fee is charged by the custodian on the client’s daily balance as a percentage of funds held on a third-party funds administration platform, for investments placed by us on behalf of our clients.
• A service support fee is paid to phwealth by the manager of one of the KiwiSaver schemes in which our clients invest. The fee is calculated as a percentage of our clients’ funds invested with them and is paid out of the manager’s own funds.

Transaction fees

• There are costs involved with most financial transactions and these are paid by the client to either the investment fund or the share broker as part of the transaction. 

For clients who invest through the phwealth DIMS, more detailed information about our fees can be found in our Service Disclosure Statement and Investment Proposal.

conflicts of interest and other relationships.

Our clients’ interests are our priority. We act as fiduciaries to all our clients.

For the purposes of the Financial Markets Conduct Act 2013, a conflict of interest means any interest of phwealth, or any other person connected with the advice provided, which a reasonable client may find reasonably likely to materially influence our advice. 

We manage any conflicts of interest by: 

•  requiring our financial advisers to complete mandatory annual training on the identification and management of conflicts of interest;
• requiring financial advisers to provide adequate disclosures internally and to clients where a potential conflict exists;
• monitoring trading activities undertaken by our financial advisers to ensure that no trading occurs which could be detrimental to clients; and
• ensuring KiwiSaver scheme providers, with which we have distribution arrangements, operate under substantially similar remuneration arrangements and terms, so that recommendations are made in the clients' best interests and are not influenced by commercial incentives. phwealth no longer places new clients into KiwiSaver schemes that operate under legacy remuneration arrangements, including the scheme referred to above that pays a service support fee.

We set out below details of relationships which may give rise to a conflict of interest, and relevant incentives arrangements:

• phwealth is the provider of the phwealth DIMS and generates fees from that DIMS. phwealth is a wholly owned subsidiary of Craigs Investment Partners Limited (“Craigs”), an investment advisory firm in New Zealand. Craigs ultimate holding company Crown TopCo Limited is 50% owned by Crown UK TopCo Limited and 50% owned by current and former Craigs employees and directors via a shareholding in CIP Holdings No.2 Limited (“CIPH2”). Crown UK TopCo is owned by funds managed by TA Associates, a global private equity firm.
• Our financial advisers who are shareholders in CIPH2 will receive any distributions paid by CIPH2 in respect of revenue earned by Craigs and its related companies (including phwealth). Our financial advisers who are shareholders of CIPH2 could potentially receive benefits from investments in products offered by phwealth. Any dividends paid by CIPH2 to our financial advisers who are shareholders of CIPH2 are not sufficiently material to have any influence on the financial advice provided to you.
• Financial advisers supporting phwealth clients operate under different employment arrangements. Some financial advisers are employed by Craigs and are seconded to phwealth and receive a fixed salary and potentially discretionary financial benefits based on a range of factors. Other financial advisers are employed by phwealth and receive a fixed salary and may be eligible for a discretionary annual bonus based on a range of factors. In each case the factors are not sufficiently material to have any influence on the financial advice provided to you.
• We have business relationships with fund managers and providers of services we outsource to. From time to time, we take part in conferences and professional development training with these parties but always at our own expense other than occasional refreshments provided on the day.

Our financial advisers and staff, and their families and friends also invest via the phwealth DIMS alongside our clients. To this extent we have an interest, but our rationale is based on the investment philosophy, not on any obvious or direct gain we might receive.

At the date of this document there are no benefits that phwealth, or any associated person, might receive that would or could reasonably be expected to materially influence our recommendations to acquire or dispose of any financial products or investment securities invested in through the phwealth DIMS.

feedback, complaints and dispute resolution.

Our mission is to always provide clear financial advice. We strive to continuously refine our service to you, and we welcome your feedback as an opportunity to improve. We will handle all complaints fairly, promptly, and carefully. We take your privacy seriously and all complaints are treated with the utmost confidentiality.  If you are not happy with any part of our advice or service, please contact your adviser. Alternatively, you can contact our CEO, Rhodes Donald, at rhodes.donald@phwealth.co.nz or on 027 223 8520. 

When we receive a complaint, we aim to resolve it as quickly as possible following our internal complaints process: 

1. We will listen carefully to your feedback and comments and make sure we understand what you are telling us.
2. We will review your complaint and discuss with you how you would like it to be resolved and obtain any additional information if needed.
3. We will let you know by phone or email whether we can resolve your complaint and how we propose to do so.
4. If we can’t resolve your complaint within two working days, we will contact you within that time to let you know we need more time to consider your complaint. We will indicate to you how long the resolution of your complaint is expected to take. 

If the complaint is not resolved to your satisfaction using our internal complaints process, you can access a free, independent resolution service, and that service may help investigate or resolve your complaint. Our external disputes resolution scheme is run by Insurance & Financial Services Ombudsman Scheme Inc. (IFSO). You can contact IFSO at: 

PO Box 10845, Wellington 6143
Phone: 0800 888 202
Email: info@ifso.nz

competence, knowledge and skill.

phwealth and any financial advisers giving financial advice on our behalf are subject to certain obligations contained in the Financial Markets Conduct Act 2013 and the Code of Professional Conduct for Financial Advice Services. These obligations mean that we are required to:

• meet certain competency, knowledge, and skill requirements; 

• meet ethical, conduct, and client care standards; 

• give your interests priority; 

• ensure our financial advice is not materially influenced by our own interests; and 

• exercise care, diligence, and skill when providing financial advice to you.

custodian. 

FNZ Limited (FNZ) is a provider of investment administration services to Consilium (NZ) Limited (Consilium), on an institutional (wholesale) basis which enable Consilium to provide wealth management services to you. FNZ services comprise: 

• investment administration – actioning instructions in regards of your investments 
• custody – holding your investments in trust for your benefit.   

FNZ earns income from deducting administration fees from your investments for brokerage, interest earned and currency conversions. 

For FNZ’s full disclosure statement, please read the attached link here