LICENSING INFORMATION
Steve Oliver Financial Services Limited trading as Steve Oliver Financial Services, holds a transitional licence issued by the Financial Markets Authority to provide financial advice (FSP707651).
CONTACT DETAILS
Steve Oliver Financial Services Limited trading as Steve Oliver Financial Services is the Financial Advice Provider.
You can contact us at:
Phone: 03 214 6927
Email: steve@sofs.co.nz
Address: 135 Spey Street, Invercargill
NATURE AND SCOPE OF ADVICE
Steve Oliver Financial Services Limited advisers provide advice about:
- Personal insurance (risk) strategies
- Investment strategies
- KiwiSaver investment strategies and retirement planning
We provide advice in relation to the following products:
- KiwiSaver investments
- Managed investments
- Personal and group insurance, including life insurance, disability insurance, income protection insurance, critical illness insurance (aka trauma) and health insurance.
We provide advice in relation to products provided by the following companies:
AIA, Asteron Life, Chubb Life, Fidelity Life, NIB, Partners Life, Southern Cross, ANZ Investments, Booster, Generate KiwiSaver, Milford Asset Management, Resolution Life, Select Wealth Management, Synergy
Investments
FEES AND EXPENSES
For advice and services in relation to insurance and investment products, we do not charge clients a fee.
For advice in Cash Management Planning (budgeting) and Retirement Planning, where we do not receive a commission from product providers, we will charge a fee.
Fees for Cash Management and Retirement Planning services, are charged at $150 per hour and capped at $1,500 + GST
We will discuss and agree the actual fees with you and explain how they are payable before providing any advice, so you may choose whether to you wish to proceed on that basis.
Planning fees are payable within 14 days of your adviser providing you your statement of advice. An invoice will be provided at this time with payment details.
CONFLICTS OF INTEREST
For Insurance, KiwiSaver and Investment services, Steve Oliver Financial Services Limited receives commissions from the companies whose policies / investments we give advice. If you decide to take out the insurance or investment that we recommend, the product provider will pay a commission to Steve Oliver Financial Services Limited. The amount of the commission is based on the amount of insurance premium / investment balance. Specific commission percentages will be advised to you when the advice is provided.
Commission creates a potential conflict of interest for us. To ensure that our financial advisers prioritise the client’s interests above their own, Steve Oliver Financial Services pays its advisers regular drawings which are not dependent on the amount of commission earned by the company. We also follow an advice process that ensures our personalised recommendations are made on the basis of the client’s goals and circumstances, as advised to us.
Steve Oliver Financial Services Limited’s financial advisers also complete regular training, which includes how to manage conflicts of interest. We also undertake a compliance audit, and a review of our compliance programme by a reputable compliance adviser
DISPUTES AND COMPLAINTS
If you are not satisfied with our financial advice service you can make a complaint by emailing admin@sofs.co.nz, or by calling 0800 214 692. You can also write to us at: P O Box 135, Invercargill 9840. When we receive a complaint, we will consider it using 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 Financial Dispute Resolution. Financial Dispute Resolution’s scheme 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 Financial Dispute Resolution by phoning 0508 337 337 or visiting www.fdrs.org.nz
DUTIES INFORMATION
Steve Oliver Financial Services Limited and anyone who gives financial advice on our behalf, 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 (431K)
• exercise care, diligence, and skill in providing you with advice (431L)
• 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) (431I)
• 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.