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Financial Advice Disclosure Statement

Licensing information

We are regulated by the Financial Markets Authority (FMA)
FSP764731 - Financial advice provider - licensee
Financial Advisers:
Stephen George BENNETT (FSP735551)
Please follow this link to search the FSP register:
https://fsp-register.companiesoffice.govt.nz/
Dispute Resolution Scheme
Financial Dispute Resolution Scheme

 

Level 9, 109 Featherston Street, Wellington 6011
Membership Number - FM5789
http://www.fdrs.org.nz/

 

Nature and scope of the advice


The individual financial advisers are limited on what insurance, investment, and loan products they are authorised by us to provide financial advice on. The scope of what advise they provide is dictated on their individual qualifications.

 

This list will be updated on an ongoing basis, but currently the product providers include:
 

  • Financing

ANZ Bank New Zealand Ltd, Apricity, ASAP Finance Ltd, Avanti Finance Ltd, Bank of China (BOC), CCB (China Construction Bank), Basecorp Finance, Bluestone Mortgages, BNZ, Cressida Capital Investment Limited, CFML Loans, DBR Ltd, First Mortgage Trust, Funding Partners, Heartland (Open for Business), Heartland (Reverse Mortgages), Lease Link, Liberty Financial Ltd, Lock Finance, NZCU, Pallas Capital, Pepper Money, Plus Finance, Prospa, Resimac, SBS Ltd, The Co-Operative Bank, Unity Bank, Westpac New Zealand Ltd. 

Fees or expenses - With most transactions there is no cost to you, the client, because Protect & Build Ltd will receive a commission of between 0.1% to 1% based on the value of the financing from the product provider. There are, however, a minority of the product providers that may charge a brokerage fee to you, the client, and may pass some or all this fee to Protect & Build Ltd. Our financial advisers may also negotiate and charge you, the client, for a nominal fee for our services depending on the circumstances. Any fee required to be paid will also be disclosed to you in the Statement of Advice and Final Disclosure provided to you by our financial advisers.

Where the lender may pay us a commission if you decide to take up our advice and when your loan settles (IE you are charged no fee). We may charge you for the financial advice that we provide if you cancel or refinance your mortgage within the first two years after it settles. We will use the following formula to calculate the fee: Fee for our financial advice = $1500 for 30 hours of work calculated at $50 per hour.

 

  • KiwiSaver Investment
     

1. Milford Asset Management Limited
Protect & Build Ltd can provide you with information on the features and benefits of Milford KiwiSaver & Investments. Protect & Build Ltd will provide you with general financial advice on KiwiSaver and the Milford KiwiSaver Scheme. This will help you to decide what type of investor you are, and which type of funds may best suit your personal situation.

Fees or expenses - There is no cost to you, the client, for receiving advice from Protect & Build Ltd or via the advice online app. However, if you choose to join the Milford KiwiSaver Scheme or investments Protect & Build Ltd will be paid a commission.
The commission is up to $150 on joining the scheme. Protect & Build Ltd will receive an amount equal to 0.20% to 0.50% per year of your account balance ongoing.


2. Generate Investment Holdings Limited.
Protect & Build Ltd can provide you with information on the features and benefits of KiwiSaver and the Generate KiwiSaver Scheme.

Protect & Build Ltd will provide you with general financial advice on KiwiSaver and the Generate KiwiSaver Scheme. This will help you to decide what type of investor you are, and which type of funds may best suit your personal situation.

Generate’s advice online app makes a fund recommendation based on your responses to a risk profile questionnaire. It can also project how much you may have in retirement based on the information you provide. It does not consider your individual financial circumstances or goals, or any other accounts or investments you have. It does not make recommendations on other schemes.

Fees or expenses - There is no cost to you, the client, for receiving advice from Protect & Build Ltd or via the advice online app. However, if you choose to join the Generate KiwiSaver Scheme Protect & Build Ltd will be paid a commission.

The commission is up to $300 on joining the scheme (depending on the size of your contributions within the first 12 months) and although there is no cost to you, Protect & Build Ltd will receive an amount equal to 0.20% per year of your account balance ongoing.

3. Implemented Investment Solutions (IIS) is the issuer and manager of the Aurora KiwiSaver Scheme
Protect & Build Ltd will provide you with general financial advice on KiwiSaver and the Aurora KiwiSaver Scheme. This will help you to decide what type of investor you are, and which type of funds may best suit your personal situation.

Fees or expenses - There is no cost to you, the client, for receiving advice from
Protect & Build Ltd or via the advice online app. However, if you choose to join the
Aurora KiwiSaver Scheme. Protect & Build Ltd will be paid a commission.
The commission is up to $225 on joining the scheme.
Protect & Build Ltd will receive an amount equal to 0.25% per year of your account balance ongoing.


4. SBS Wealth KiwiSaver - Funds Administration New Zealand Limited
Protect & Build Ltd may provide you as a referral to SBS Wealth KiwiSaver - Funds Administration New Zealand Limited and receive a referral fee of $50 should this be successful.

5. Booster KiwiSaver - Booster Financial Services Limited
Protect & Build Ltd will provide you with general financial advice on KiwiSaver and the Booster KiwiSaver Scheme. This will help you to decide what type of investor you are, and which type of funds may best suit your personal situation. 
Fees or expenses - There is no cost to you, the client, for receiving advice from Protect & Build Ltd or via the advice online app. However, if you choose to join the Booster KiwiSaver Scheme Protect & Build ltd will be paid a commission. 
Protect & Build Ltd will receive an amount equal to 0.25% per year of your account balance ongoing.

  • RISK & HEALTH Insurance
     

Protect & Build ltd provides financial advice in the following areas:
•    Personal risk insurance products* for the staff members of group insurance schemes
•    Personal risk insurance products* for individual NZ consumers

*Personal risk insurance products include: life insurance, trauma, permanent disability, income protection, mortgage protection and health insurance, and does NOT include General Insurance product lines (e.g. house, contents, cars, liability policies).
1. Asteron Life Limited
Protect & Build Ltd has an agency with Asteron Life providing the range of RISK insurance products associated in their portfolio.

2. Accuro Health Insurance Society Limited
Protect & Build Ltd has an agency with Accuro Health providing the range of HEALTH insurance products associated in their portfolio.

Commissions - Group Insurance Products typically up to 20% x the annual premium, continuing to be paid annually • Personal Risk Insurance Products can be up to 230% x the first years premium paid by a client, with an ongoing commission typically of 10% of the annual premium. Medical Insurance Products typically up to 155%, with a trail commission typically 7.5%. As an adviser we can opt to take a lower up front commission with a higher renewal commission as an alternative to the structure above. 

  • Referrals

Protect & Build Ltd may also receive a referral fee from some of the referral partners it has partnered with. If you decide to go ahead with these products, such as fire and general or risk insurance Protect & Build Limited may receive a referral fee from the provider. Protect & Build Limited provide a referral fee.

From time to time certain persons, for example existing clients may refer a future client to us. If this referral is successful we may possibly reward this referral in the form of a gift card with a value no greater than $250.

  • Conflicts of interest and incentives
    Its is possible that a conflict of interest may become relevant. Protect & Build Ltd is aware of its duty to manage any such situation and has a responsibility to insure this does not occur. If you as the client feels there is a conflict of interest, please refer to our “Complaints handling and dispute resolution process below.

  • Complaints handling and dispute resolution
    For a complaint arising from any problems about any part of our financial advice service, please contact Stephen Bennett so that they can try to resolve the problem as follows:
    Stephen Bennett – steve@pnb.nz – 021 153 4959 (Please book a consultation time or send an email for me to call you as I am often tied up and unable to answer calls that are unscheduled - thanks in advance)
    PnB, 115 Stanley Road, Glenfield, Auckland 0629, New Zealand

 

We will consider your complaint following our internal complaints process and let you know how we may resolve it.


Acknowledge will be within 48 hours of your initial email, letter or phone call being received. Complaints will normally be resolved within 5, but no more than 21, working days from them being receiving.

If a resolution to the issue cannot be achieved, you the client, can contact Financial Dispute Resolution Scheme
Level 9, 109 Featherston Street, Wellington 6011
Membership Number - FM5789
http://www.fdrs.org.nz/

 

  • Duties information


Protect & Build Ltd and its advisers have duties under the Financial Markets Conduct Act to:
a) meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services (Code), which is available on the Financial Markets Authority’s website (www.fma.govt.nz);

b) give priority to your interests.

c) exercise care, diligence, and skill.

d) meet the standards of ethical behavior, conduct, and client care set out in the Code.

Updated - 21st June 2023

Stephanie

I can’t express enough how helpful this company was for us. If you are a first home buyer who is overwhelmed, this company is the absolute best choice for you. They made everything easy to understand and answered absolutely question I had. Oh and they are crazy fast at returning emails or calls.

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