Effective 22 November 2023
The following information provides you (the client) with an important overview of Cole Murray Group Limited, our duties to you, fees & commissions, and how we manage complaints.
Licence status and conditions
Link Financial Group 2022 Limited (FSP1004590) holds a licence issued by the Financial Markets Authority to provide financial advice. Cole Murray Group Limited (FSP42652) is authorised by that licence to provide financial advice.
Nature and Scope of Advice
Cole Murray provides advice to clients about the many aspects of financial services. Our advice services include:
- Investment strategies (strategic asset allocation and investing)
- Debt management (including borrowing for personal and investment purposes)
- KiwiSaver investment strategies and retirement planning
- Personal insurances
- Fire & general insurances
- Personal financial plans
We access a wide range of products from various providers in both local and overseas markets. The products we can advise on include:
- KiwiSaver investments
- Management fund investments
- Personal and group insurances (life cover, disability, income protection, trauma, health)
- Loans including mortgages, reverse mortgages, personal loans, business loans
- General insurances covering domestic insurance (house, contents, motor vehicle, landlords) and commercial insurance (commercial property, business interruption, commercial motor, marine, liability, professional indemnity, cyber insurance)
- Life investment products including whole of life, endowment, and bonds
While we have made every effort to ensure the below list is comprehensive, we may not be limited to the below product providers. Cole Murray is generally able to work with any product provider on the basis that our client receives the best arrangements to satisfy your needs and goals.
Cole Murray provide advice in relation to products provided by the following companies:
- Booster Investments Management Limited
- ANZ New Zealand Investments Ltd (OneAnswer)
- AMP KiwiSaver Scheme
- Milford Asset Management
- Generate KiwiSaver
Whilst the above list is extensive, we are not limited to just those mentioned above. From time to time, Cole Murray is able to utilise any product provider on the basis that you our client receives the best arrangement(s) to satisfy your needs and goals.
Our fees, expenses and/or other amounts payable
The actual amount Cole Murray may charge you will depend on the nature and scope of the advice or service we provide. We will discuss and agree the actual fees with you
before we proceed and will explain how these fees will be payable.
Our agreed advice and services and service fees may include charges for initial advice, ongoing or annual advice, and services. The fees charged for our advice and services may be based on a combination of a set dollar amount or a percentage-based fee. Fees will be confirmed in our Statement of Advice which will be provided to you when the advice is given.
In addition, a fee and/or charges may be payable for altering or cancelling your service or product. This may include costs by an intermediary. If fees or costs will be charged, you will be advised at the time the financial advice is provided.
For services in relation to insurance, some investment products and loans products, commissions may be paid by the product provider. This is usually an initial commission
which is normally a percentage of the value of your investment contribution, loan amount or insurance premium, plus an ongoing commission, usually a percentage of the value of your investment balance, outstanding loan amount or premiums and generally calculated at the end of the month in which you hold the investment or loan, or renewal of insurance products.
Where other costs are incurred in the process of providing our advice and services to you, you will be liable for these costs. These other costs may arise from another service
provider, for example property valuer, property surveyors, etc and / or incidentals such as travel costs, stationery, etc. However, we will agree all additional costs with you prior to incurring them.
Conflicts of interest
Cole Murray has spent many years forging relationships with providers. The benefits of these relationships are seen every day by giving our clients outstanding choice, competitive pricing, coverage options and policy support services. We ensure that your interests are always our priority.
Cole Murray are paid commission and/or fees for the business placed with our product providers. The amount of commission or fee is normally calculated as a percentage. Specific information on how we are paid, and how this is calculated, will be provided to at the time of advice.
From time to time our product providers assist us with funding so we can bring our advisers together for conferences and professional training. We may also receive indirect benefits such as business lunches, tickets to sporting and/or cultural events, corporate promotional merchandise and other unquantifiable minor benefits.
Cole Murray recognises that the above commissions and incentives may create conflicts of interests for the business and associated financial advisers. To manage these conflicts, our advisers follow an advice process that ensures the recommendations made to you, the client, are made based on your financial goals, personal circumstances and have received appropriate research.
Cole Murray operates its own Premium Funding Company for the purpose of funding general insurance premiums. You, as the client, will be advised if Cole Murray will be using Cole Murray Premium Funding Ltd (CMPF) prior to any business being placed with CMPF.
Complaints and disputes process
If you are not satisfied with the services provided by Cole Murray please contact your financial adviser or Cole Murray directly and tell us so we can try and fix the problem.
Cole Murray’s complaints officer is:
06 870 7050 / email@example.com
Willem will formally acknowledge your complaint usually in writing and will endeavour to resolve the issue fairly and in a timely manner.
When we receive a complaint, we will handle your complaint in an open and transparent manner and will endeavour to resolve the complaint fairly and within 10 working days. If we have not resolved your complaint within 10 working days, we will provide you with a written update as to the reasons for the delay, what action is underway to resolve your complaint and advise you of the anticipated timeframe for a response.
In handling your complaint, there are several remedies available to us, including but not limited to:
- an apology or explanation.
- liaison with product provider to find a mutually agreeable outcome to your complaint.
If we cannot agree on how to remedy the issue, or you, the client, decide not to accept or use the internal complaints scheme, you can contact our external disputes resolution service – FDRS.
Cole Murray, and anyone who gives financial advice on our behalf, has 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 is not 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.