Licensing Information

Lighthouse Wealth Limited (FSP 748572, trading as Lighthouse Wealth) holds a licence issued by the Financial Markets Authority to provide financial advice.

You can contact us at:

Phone: 09 320 4947 or 027 399 5175
Email: james@lighthousefinancial.co.nz
Address: 41 High Street, Auckland Central, Auckland 1010
Website: www.lighthousefinancial.co.nz

About us

James has provided financial advice and worked in financial services for the last 10 years.

Prior to establishing Lighthouse Wealth, James worked for Westpac where he led a team of Financial Advisers from Whangarei to Invercargill.

You can find out more about James, his experience and qualifications by visiting his LinkedIn profile.

Nature and Scope of the advice

Lighthouse Wealth provides advice to our clients with regards to, financial planning, investments, KiwiSaver, investment property and insurance.

We make use of research from MyFiduciary. This investment consulting firm assists with building investment portfolios for our clients. These are model portfolios and are designed for investors with more than $250,000 to invest.

Product Providers

Our Financial Advisers provide financial advice about products from certain providers:

Kernel Wealth – for clients who have a smaller lump sum to invest or who want to contribute regularly to their investment.

Milford, Booster and Generate – are our KiwiSaver providers.

Astron, AIA, Fidelity Life and Partners Life – for life insurance and income protection.

AIA and Partners Life – for health insurance.

We work with a property development firm, Williams Corporation when clients are considering an investment property.

For investment products we provide advice on a wide range of NZ and overseas based investment funds.

Fees or expenses

For a financial plan we charge a flat fee of $500 plus GST for a financial plan. We also encourage our clients to review their situation on an annual basis.

For a financial review we will charge a flat fee of $250 plus GST. We recommend that our clients undertake a review annually.

KiwiSaver and insurance providers pay Lighthouse a commission fee and/or a trail amount which will usually covers the annual review fee. In this instance Lighthouse will not charge a fee to the client. You will be informed of such before any fees are incurred by yourself.

Lighthouse charges 0.55% including GST as an ongoing advice fee for clients who implement our MyFiduciary portfolios. This ongoing advice fee will cover the annual review, rebalancing portfolios and any recommended changes going forward.

Conflicts of Interest & Incentives

For life insurance and health insurance, Lighthouse Wealth receive commissions from the insurance companies on whose policies we give advice. If you decide to take out insurance, the insurer will pay a commission to Lighthouse Wealth. The amount of the commission is based on the amount of the premium.

For KiwiSaver, Lighthouse Wealth receives either an upfront commission and or ongoing trail (depending on the KiwiSaver provider) if you decide to open or transfer your KiwiSaver to that specific provider. The amount of the commission or trail is dependent on the balance of your KiwiSaver.

As employees of Lighthouse Wealth our Financial Advisers may refer you to Lighthouse Mortgages and Lighthouse Accounting where we have referral arrangements or where the directors are shared across the companies, or partners outside or Lighthouse Mortgages and Lighthouse Accounting that we have referral arrangements with. We do not pay Lighthouse Mortgages or Accounting for referrals and we do not receive a fee for referrals we send.

Lighthouse Wealth Ltd receives 25% of “new business commissions” that Rothbury receive from referring Lighthouse clients for Fire and General Insurance.

We will always act with your best interests first and will disclose all associated referral fees, commissions, conflicts of interest or potential conflicts of interest as / if they arise where appropriate.

All our Financial Advisers undergo annual training about how
to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme annually by a reputable compliance adviser.

From time to time, Lighthouse Wealth may receive certain non-monetary benefits from product providers. This could include but is not limited to; gratuities such as a bottle of wine at Christmas time, a free calendar, pen or book, the occasional luncheon, drinks after a briefing session, invitations to sporting events, subsidised professional development, discounted training courses or office supplies, etc.

Complaints Handling & Disputes Resolution

If you are not satisfied with our financial advice service you can make a complaint by emailing info@lighthousefinancial.co.nz, or by calling 09 320 4947. You can also write to us at: 41 High Street, Auckland Central, Auckland 1010.

When we receive a complaint, we will consider it following our internal complaints process:

    • We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.
    • We aim to resolve complaints within 10 working days of receiving them. If we can’t, we will contact you within that time to let you know we need more time to consider your complaint.

We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so.

If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, we will issue you with a Letter of Deadlock and you can proceed to contact The Insurance & Financial Services Ombudsman Scheme.

The Insurance & Financial Services Ombudsman Scheme provides a no charge, independent dispute resolution service that may help investigate or resolve your complaint, if we haven’t been able to resolve your complaint to your satisfaction.

You can contact The Insurance & Financial Services Ombudsman Scheme in the following ways:

The Insurance & Financial Services Ombudsman Scheme Level 2, Solnet House

70 The Terrace
Wellington 6143

Email: info@ifso.nz.
Phone: 0800 888 202

Duties Information

Lighthouse Wealth, and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that 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 behaviour, 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 https://www.fma.govt.nz.

Privacy

As part of our process we will collect your personal information. We take your privacy very seriously so have the appropriate processes and controls in place to ensure your data is protected.

Your Adviser and relevant Lighthouse Wealth staff will have access to your data so we can provide the highest level of service. We allow third parties access to your data for compliance reasons. This will occur during our client file reviews by our independent compliance contractor, Compliance Refinery. We may also need to complete an Anti-Money Laundering check as per regulation. We use Real AML for these checks. We can also be reviewed by the regulator, the Financial Markets Authority. They will access your personal details as part of their review.

Any information/ questions you have in relation to this document will be addressed upon request and free of charge.