DISCLOSURE

Nature and Scope of Advice

SwainWoodham Group provides independent advice to our clients about their Life and Health Insurances and Financial Investments.

We provide advice about products from a large range of providers.

We do not provide advice on Mortgages.

Any financial advice provided on our behalf will take account only of the information you have given us about your particular needs, financial situation or goals.

Fees, expenses or other amounts payable for our financial advice

Insurance

We do not charge any fees, expenses or any other amounts for financial advice given to you.

Investment

We offer all clients a no obligation initial consultation.

If you engage SwainWoodham Group to provide financial planning or investment advice, we will provide you with a scope of services and details of the fees that will be payable.  The initial fees will vary depending on the time and complexity of the work involved, in the range of $1,000 to $3,000 (plus GST).

Conflict of interest and commissions or other incentives

Insurance

If you take out Insurance following our advice we receive commission from the relevant Insurance Company.  The initial commission rates are between 120% and 240% (+ GST) of the first years premium of your Policy – this amount depends on what Insurance Company and which benefit you choose.

In some cases we also receive an override bonus of up to 30% of the first years premium.

In addition we recieve a renewal commission ranging from 5% to 10% and can be up to 30% depending on the renewal structure chosen, for the life of the Policy.

If the Policy is cancelled within the first 2 years of issue a proportional writeback of any commission or renewal paid will be debited to SwainWoodham Group.

Investment

If you open or transfer a KiwiSaver Fund based on our advice we receive a 1 off payment from $0 to $180 (inc GST) dependent on the provider.

We receive a trail on KiwiSaver of .2% to .75%.

For Investment Portfolios we charge an advice fee based on the funds under management – this starts at 1%, reducing for larger portfolio’s.  We can also work on a fixed fee basis if preferred.

We do not receive any commission from brokerage fees or from any other providers we only receive the fees that are paid to us from you through your portfolio account.

Referrals

If during the engagement, a need arises for the use of another professional, we will refer you to an appropriate professional.  That person will enter into any agreement for services with you directly.

If you have been referred to us by another professional we may in some situations pay the person a referral fee or gift.  However, our financial advice is to act in your best interests and not be influenced by referral fees, gifts or any other type of incentive.

We complete registers for any gifts we may receive.