Fees

We charge fees for advice and the services we provide.  We will discuss and agree the actual fees with you in writing once we know what your needs are, before we proceed, and explain how they are payable.

In all cases the initial meeting carries no obligation and is free of charge. 

The types of fees that may apply: 

Investment planning and implementation fee

A one-off fee that is normally payable if we prepare an investment plan for you and may be payable regardless of whether you implement your investment plan.

Ongoing advice and monitoring fee*

The fee covers: ongoing financial advice and planning, regular reviews, independent investment research, asset allocation, portfolio monitoring services, and associated administration.

It is calculated based on the value of your funds under management. This is a tiered charge which means that different rates apply to different portions of your portfolio. The overall percentage charged reduces for larger portfolios. It is calculated monthly and deducted from your portfolio cash balance. Further details available on request.

*Only 80% of the ongoing advice and monitoring fee is subject to GST

Custody and administration fee – Third Party

If you use our independent custodian, you will pay a fee for this service. This fee is calculated based on the value of your funds under management. This is a tiered charge which means that different rates apply to different portions of your portfolio. The overall percentage charged reduces for larger portfolios. This fee covers custody, tax reporting, performance reporting, and associated administration. It is calculated monthly and deducted from your portfolio cash balance. We will inform you of the fee scale once we have determined the scope of the advice you seek.

KiwiSaver

KiwiWrap KiwiSaver Scheme: we charge an initial fee planning fee and an ongoing advice, monitoring, and administration fee calculated as a percentage of your KiwiSaver balance (charged monthly and deducted from your KiwiSaver account balance). A scheme fee is also payable to the scheme manager – see www.kiwiwrap.co.nz.

Booster Asset Class KiwiSaver: we charge an initial fee and a service fee calculated as a percentage of your KiwiSaver balance. A scheme fee is also payable to the scheme manager – see www.booster.co.nz.

UK Pension

For UK pension transfer clients, we charge an advice and implementation fee calculated as a percentage of the transfer value. Where we act as your investment adviser for pension assets held within a New Zealand pension scheme, we charge an ongoing advice and monitoring fee calculated as a percentage of assets under management. This is a tiered charge which means that different rates apply to different portions of your portfolio. The overall percentage charged reduces for larger portfolios. A scheme management fee is also payable to the scheme manager.

Managing Conflicts of Interest

To ensure that we prioritise client interests above our own, we follow an advice process that ensures our recommendations are made based on the client’s goals and circumstances.

Andy Hyland is our sole financial adviser. He is paid a salary and may receive additional remuneration by way of a bonus, depending on company revenue.

Andy has received training about how to manage conflicts of interest. We maintain and update a Conflicts of Interest Register. We undertake an annual compliance audit and a review of our compliance programme. This is carried out by a reputable independent compliance adviser.

Handling of Complaints

If you have a problem, concern, or complaint about any aspect of our services, please take advantage of our internal complaints scheme so that we can try to fix the problem. You may contact the internal complaints scheme at:

Contact Name: The Chairperson, 

Address: Bradley Nuttall Otago Ltd Level 10
John Wickliffe House
265 Princes Street, Dunedin, 9016 03 477 2316

Telephone number: 03 477 2316

Email address: info@bnol.co.nz

If you make a complaint:

• The complaint will be recorded in our Complaints Register.

• Staff will acknowledge the complaint and respond to you within 48 hours.

• If your complaint cannot be resolved within five working days, it will be referred to our Management Committee who will investigate it further.

• If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact the Insurance and Financial Services Ombudsman Scheme (IFSO). This service will cost you nothing and will help us resolve any disagreements. You can contact the Insurance and Financial Services Ombudsman Scheme at:

Address: Level 2, Solnet House 70 The Terrace
PO Box 10-845 Wellington 6143

Telephone number: 0800 888 202

Email address: info@ifso.nz

Legal Duties

Bradley Nuttall Otago Limited has duties under the Financial Markets Conduct Act 2013 relating to how 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

• exercise care, diligence, and skill in providing you with advice

• 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)

• meet standards of ethical behavior, 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 www.fma.govt.nz.

You can reach us at:

www.bnol.co.nz

+64 3 4772316
info@bnol.co.nz
Level 10, John Wickliffe House, 265 Princes Street, P.O. Box 225, Dunedin 9054 Hours: 8.30am – 5pm Mon-Fri