Disclosure Statements

Sage Wealth Financial Advice Provider Public Disclosure Statement

24 August 2022

Information to help you understand our business

The Financial Markets Conduct Regulations 2014 require us to make certain disclosures publicly available. The purpose of this disclosure is to help retail clients find the type of adviser services they are seeking. 
Sage Wealth Management Limited (the 'Company’, 'we', 'us' and 'our') holds a licence issued by the Financial Markets Authority to provide a financial advice service.

Our contact details are:

Sage Wealth Management Limited
Level 29, 151 Queen Street, Auckland 1010
PO Box 91649, Victoria Street West, Auckland 1142
email: info@sagewealth.co.nz 

Telephone: 027 205 2234

Licence Status and Conditions

• The Company has a Financial Advice Provider (FAP) licence (FSP1003386)
• Aga Krzeczkowska is a Financial Adviser who can provide financial advice services to clients on behalf of the Company under its FAP licence
• There are no terms or conditions of the Company’s licence that limit or restrict the advice that may be given by the Company or by Financial Advisers on behalf of the Company

Nature and Scope of Advice

• The Company, through its Financial Advisers, provides investment planning services and financial advice on financial products
• The Company’s Financial Advisers are qualified and experienced to advise clients on a wide range of financial products including:
  
  • NZ bank and building society term deposits and cash;
  • listed NZ and global bonds and shares;
  • debt securities and other fixed income investments; and
  • third party managed funds (passive and active, listed and unlisted).

• The Company is part of the wider financial services group comprising Amplifi Group Limited and its subsidiaries ('Amplifi Group').  However, the Company is under no obligation to recommend products issued by the entities within the Amplifi Group and is free to advise clients without product bias
• The Company can also provide specialised financial advice on UK Pension Transfers
• The Company can also assist clients with Investor Migrant portfolio creation and management
• We do not advise on insurance or mortgage products, nor do we provide tax or legal advice, but we can refer you to a specialist dealing with these areas. 

Fees, Expenses or other Amounts Payable

• The Company’s fee structure is straightforward and transparent
• The Company charges for ongoing advice and portfolio management only.  All other costs (including independent custody, broking and foreign exchange transactions) are passed through to the client at cost with no margin taken by the Company.
• The Company's charges for ongoing monitoring and investment advice are payable based on a percentage of the client’s portfolio valuation (accrued on a daily basis and deducted on a monthly basis from the client’s portfolio cash account – this is done by the independent custodian). These charges are clearly disclosed before establishing a portfolio and can be tax deductible. These charges cover the following activities:
  
  • Ongoing investment and financial planning advice
  • Regular reporting and client meetings
  • All contact with a financial adviser
  • Market updates, reports, seminars, etc.
• Charges for independent custody, administration, asset safe keeping and transaction processing provided by MMC Limited (formerly Aegis) or a company related to MMC are deducted by the independent custodian directly from the client’s portfolio cash account on a monthly basis. 
• From time to time there could be other charges applicable e.g. brokerage on the sale and purchase of securities, third party fund manager fees, foreign exchange margins, etc. These charges are clearly disclosed when advice is given.

Conflicts of interest, including commissions or other incentives

A conflict of interest means a financial or any other interest, relationship or other association of the Company (or its Financial Advisers, directors or any other person connected with the advice) that would, or could reasonably be expected to materially influence our advice, including our choice of investments to buy or sell on your behalf.

The Company is part of the Amplifi Group.  Mint Asset Management Limited is a fund manager which is also part of the Amplifi Group and this may give rise to a conflict of interest.  Some employees within the Amplifi Group may also be shareholders in Amplifi Group Limited.  The value of their shareholding is related to the business success of the Amplifi Group, including Mint Asset Management Limited.  Any Financial Advisers who are, or are associated with, shareholders in Amplifi Group Limited could potentially receive a benefit from clients who invest in products offered by entities within the Amplifi Group, including Mint Asset Management Limited.  This may therefore give rise to a conflict of interest.  However, neither the Company, nor the Financial Advisers are under any obligation to recommend products issued by Mint Asset Management Limited or other entities within the Amplifi Group, and we do not receive any commissions, fees or other incentives for recommending products issued by Mint Asset Management Limited or other entities within the Amplifi Group.   

To ensure we manage conflicts of interest and prioritise your interests above our own we take the following actions:

• disclose any conflicts so that you can make an informed decision;
• follow the Company’s policies and procedures for managing conflicts of interest, including a Conflicts of Interest Policy, a Gifts and Entertainment Policy, a Personal Investments Policy and an Outside Business Activities Policy; and
• undertake training about how to manage conflicts of interest and prioritise clients’ interests.

Conflicts, and the way they are managed, are disclosed to you so that you can make your own decision as to whether you want to proceed with our advice recommendations.

The Company does not retain any investment commissions, rebates or trail payments from any external fund providers.  If the Company receives any investment commissions, rebates or trail payments from any external fund providers in respect of your investment, the Company would pass these amounts on to you.

Complaints Procedure and Dispute Resolution

The Company has an internal complaints programme aimed to resolve any issue quickly, fairly and effectively. You may make complaints verbally or in writing, including by email. Complaints may be made to the Company's Compliance Officer using the contact details below:  

Sage Wealth Management Limited
Level 29, 151 Queen Street, Auckland, 1010, New Zealand
PO Box 91649, Victoria Street West, Auckland 1142
Email: info@mintasset.co.nz

All complaints will be addressed by the Company’s Compliance Officer who will act in good faith in dealing with the complaint.  We will keep you updated on our progress and contact you to discuss the outcome following our investigation.

If a complaint cannot be resolved to your satisfaction via our internal complaints process, you may choose to contact a free, independent, dispute resolution service to help investigate or resolve the complaint.  Our dispute resolution scheme provider is the Insurance & Financial Services Ombudsman Scheme ('IFSO').  You can make a complaint to IFSO using the details below:

PO Box 10-845 Wellington 6143
Level 2, Solnet House, 70 The Terrace, Wellington
Telephone: 04 499 7612
Freephone: 0800 888 202
Email: info@ifso.nz
Website: www.ifso.nz

Duties information

The Company and anyone who gives financial advice on its behalf are subject to 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 financial advice isn’t materially influenced by our own interests
• Exercise care, diligence and skill in providing you with financial advice
• Meet applicable standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services
• Meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services