Financial Advice Disclosure Statement

  • Licensing information
    We are regulated by the Financial Markets Authority (FMA)
    FSP764731 - Financial advice provider - licensee - transitional licence
    Financial Advisers:
    Stephen George BENNETT (FSP735551)
    Christopher Bevan PALTRIDGE (FSP749691)
    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.fdr.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:
General Insurance (Home, Contents & Car)
Blanket.


Paltridge & Bennett works exclusively with Blanket Insurance to provide house, car & contents insurance via their digital application process.

The insurance offered by Blanket is provided by The Hollard Insurance Company Pty Ltd (Hollard). Administration of this insurance and claims handling services are managed by Ando Insurance Group Limited (Ando) on behalf of Hollard. Hollard is a licensed insurer in New Zealand under section 19 of the Insurance (Prudential Supervision) Act 2010.

They are the only general insurance product provider that Paltridge & Bennett work with.

Fees or expenses - In place of an upfront fee, Paltridge & Bennett is paid a commission by the recommended insurance provider from the premium they charge you for your cover which means they may receive a commission of 7.5% to 12.5% of each premium, or if it’s a referral commission it will range from 3.75% to 6.25% of each premium depending on which insurance products you take out cover with, after taxes and levies.

Financing
ANZ Bank New Zealand Ltd, Apricity, ASAP Finance Ltd, Avanti Finance Ltd, Bank of China (BOC), Basecorp Finance, Bluestone Mortgages, BNZ, Cressida Capital Investment Limited, DBR Ltd, First Mortgage Trust, Funding Partners, Heartland (Open for Business), Heartland (Reverse Mortgages), Lease Link, Liberty Financial Ltd, Lock Finance, NZCU, PepperMoney, Plus Finance, Prospa, Resimac, SBS Ltd

Fees or expenses - With most transactions there is no cost to you, the client, because Paltridge & Bennett 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 Paltridge & Bennett. 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.

Investments
Generate Investment Holdings Limited.
Paltridge & Bennett can provide you with information on the features and benefits of KiwiSaver and the Generate KiwiSaver Scheme.

Paltridge & Bennett 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 Paltridge & Bennett or via the advice online app. However, if you choose to join the Generate KiwiSaver Scheme Paltridge & Bennett 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, Paltridge & Bennett will receive an amount equal to 0.20% per year of your account balance ongoing.

  • Conflicts of interest and incentives
    Its is possible that a conflict of interest may become relevant. Paltridge & Bennett 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 or Christopher Paltridge so that they can try to resolve the problem as follows:
    Christopher Paltridge  - chris@pnb.nz – 027 577 5333
    Stephen Bennett – steve@pnb.nz – 021 153 4959
    PnB, 63 Iona Avenue, Rd 3, Auckland, 0793, 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.fdr.org.nz/

  • Duties information
    Paltridge & Bennett 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 behaviour, conduct, and client care set out in the Code.