Financial Advice Provider Disclosure

Harbour Asset Management Limited (“Harbour”) (FSP3241) holds a financial advice provider licence (“Licence”) issued by the Financial Markets Authority.

Harbour will provide financial advice through its financial advisers (“Financial Advisers”).

Conditions of Licence

There are no conditions in Harbour’s Licence that limit or restrict the advice that may be given by Harbour, or any Financial Adviser of Harbour. 

Nature and scope of advice

Harbour will only provide advice on: 

  1. managed investment products that are issued and managed by Harbour (“Harbour Funds”); or 

  2. Harbour Funds that are offered within managed investment products that are issued and managed by a third party.

The financial advice will be based on, and limited to, the information the customer has given to the Financial Adviser. What information is given may limit or restrict the resulting advice provided.

If the customer’s financial or other circumstances change following any advice given by the Financial Adviser, Harbour recommends the customer re-engages with the Financial Adviser to confirm the existing advice, or obtain further advice. 

Fees, expenses and other charges payable

There Harbour will not charge the customer a fee for the financial advice provided. Harbour is remunerated via the management fee received should the customer decide to invest into a Harbour Fund. Harbour’s financial advisers are paid a salary, plus they are eligible to receive a bonus based upon company and individual performance. Individual performance is not directly linked to volume of sales made.

If the customer invests direct into a Harbour Fund, then there are fees and expenses associated with the investment and these are contained in the relevant Product Disclosure Statement for the Harbour Fund.

Details on the exact fees payable by the customer will be explained to the customer when financial advice is provided and set out in the written Statement of Advice prepared for (and given to) the customer.

If the customer invests indirectly into a Harbour Fund via a third party managed investment product, there may be (in addition to the fees and expenses noted above) fees and expenses associated with the third party managed investment product. Again, details on the exact fees payable by the customer will be explained to the customer when financial advice is provided and set out in the written Statement of Advice prepared for (and given to) the customer. 

Conflicts of Interest

Harbour only advises on Harbour Funds. Consequently, a conflict of interest exists because those funds are managed by Harbour and Harbour receives fees from such funds the customer invests in. Any additional conflicts of interest will be clearly explained to the customer before or as part of receiving financial advice. 

Harbour manages this conflict of interest by clearly explaining that it only advises on Harbour products and its advice is based upon the customer’s goal(s). Harbour also provides clear disclosure of all applicable fees. 

If any other conflict of interest should arise, Harbour will (before any advice is provided) give its customers a brief explanation of when, or in what circumstances, the conflict might arise and will explain the steps that have been or will be taken to manage the conflict of interest.

Complaints process

If the customer is not satisfied with Harbour’s service or financial advice, please tell Harbour as soon as possible.

Address:
Harbour Asset Management Limited, 
Level 16, 171 Featherston Street, 
Wellington 6140

Website: www.harbourasset.co.nz
Email: contactus@harbourasset.co.nz
Phone: 0800 460 830 

When Harbour receives a complaint:

  • It will consider the complaint and let the customer know how it intends to resolve it. Where possible, Harbour tries to resolve the complaint immediately.

  • If Harbour is unable to resolve the complaint immediately, it will acknowledge the complaint within 2 business days. Harbour may contact the customer to get further information about the complaint.

  • Harbour aims to resolve complaints within 20 working days of receiving them. If it needs more time to investigate the complaint, it will let the customer know when to expect to receive a response to the complaint

  • Harbour will contact the customer by phone, email or letter to let the customer know whether Harbour can resolve the complaint and how it proposes to do so.

If Harbour cannot agree on how to fix the issue, or if the customer decides not to use Harbour’s internal complaints process, the customer can contact Harbour’s external disputes resolution scheme, operated by Financial Services Complaints Limited (“FSCL”). FSCL provides a free and independent dispute resolution service that may help to resolve the complaint if Harbour hasn’t been able to do so to the customer’s satisfaction.

To contact FSCL:

Address:
Financial Services Complaints Limited
Level 4, 101 Lambton Quay 
PO Box 5967, Wellington 6140 

Website: www.fscl.org.nz
Email: complaints@fscl.org.nz 
Phone: 0800 347 257 or +64 4 472 3725

Duties of Harbour and its Financial Advisers

Harbour and its Financial Advisers have duties to its customers to:

  • meet the standards of competence, knowledge and skill provided in the Code of Professional Conduct for Financial Advice Services (the “Code”); and

  • give priority to its customers’ interests; and

  • exercise care, diligence and skill when advising customers; and

  • meet the standards of ethical behaviour, conduct and client care set out in the Code.


You can download the PDF of this Disclosure here: Harbour Asset Management Financial Advice Provider Disclosure