License Status and Conditions

McBride Wealth Limited (McBride Wealth) holds a Class Two Financial Provider’s License (FAP) issued by the Financial Markets Authority (FMA) to provide financial advice. McBride Wealth’s Financial Service Providers Register (FSPR) number is FSP1008930. McBride Wealth is not bound under restrictions on this license.

Nature and scope of advice

At McBride Wealth we provide the following services:

• Wealth Management
• KiwiSaver advice
• Financial Advice

We use the following providers:

• Managed Investment Portfolios: Custody and investment access are provided by Adminis NZ Ltd (Adminis). Adminis provide custody & administration services, along with access to a significant number of managed funds and direct investments such as shares and bonds on the NZX, ASX, and other well-known global stock exchanges that are available to retail investors in New Zealand.

• KiwiSaver:
o Kernel Wealth Ltd (Kernel), offer access to diversified KiwiSaver funds with ethical passive investment strategies.
o Milford Asset Management, offer access to diversified KiwiSaver funds with ethical active management strategies.

Fees, Expenses, and Amounts Payable

At McBride Wealth, the fee for preparing a Statement of Advice is determined by the scope and complexity of the engagement.

The Advice Fee is charged as a percentage of the assets under advice.

The Statement of Advice fee will be invoiced separately with payment within 7 days of us receiving your signed authority to proceed.

When you instruct our adviser to prepare a Statement of Advice, an advice fee will apply, whether or not you choose to proceed with the recommendations outlined in the Statement of Advice.

The advice and platform fees are deducted from your investment portfolio cash account monthly in arrears. The deduction of fees is arranged by Adminis with the Platform Fee paid to Adminis and the Advice Fee paid to McBride Wealth.

KiwiSaver Advice

At McBride Wealth, the cost for advising on KiwiSaver is levied as a percentage of the value of assets under advice. This fee is typically up to 0.5% p.a + GST and is levied in addition to the internal fund management fee. Fees are deducted from your KiwiSaver account monthly in arrears.

The Manager of the Plan (Kernel or Milford) collect the advice fee monthly on our behalf and pay the balance to McBride Wealth.

Full costs will be agreed with you before your KiwiSaver is partnered with McBride Wealth.

KiwiSaver Fees are up to 0.50% + GST, levied on the balance invested.

Financial Advice

At McBride Wealth, the cost of financial advice is based on the scope and complexity of the engagement.

Following our initial discussion to understand your requirements, we will provide an indicative fee to support your decision-making.

Fees are invoiced upon delivery of advice and are payable within 7 days of the invoice date.

When you instruct our adviser to prepare a Statement of Advice, an advice fee will apply, whether or not you choose to proceed with the recommendations outlined in the Statement of Advice.

Conflicts of Interest, Commissions, and other Incentives

Currently there are no conflicts of interest relating to the services provided by McBride Wealth.

Commissions:

Typically, when it comes to investment portfolios, we avoid any commissions from product providers as we feel that that is a conflict of interest.

Transaction Fees, Rebates and Foreign Currency Spreads

We do not collect transaction fees as income, but there may be transaction fees that you have to pay if you want to transact any direct listed equities, bonds, or managed funds on an exchange.

The indicative cost would be quoted at the time before transacting. It will depend on factors such as size of the trade and the exchange that it would be traded on.

Any rebates received from investment funds are passed on to our clients.

There may be a foreign currency spread levied on the transaction if you want to change currencies via the custody platform. We do not collect foreign currency spreads as income.

Complaints Process

If there are any issues, concerns, or complaints about any part of McBride Wealth’s services, you can contact our internal complaints scheme, which will endeavour to rectify the matter.

This can be done by outlining your complaint in writing and sending it to:

Address:

Complaints
McBride Wealth,
40 Major Hornbrook Road
Mount Pleasant
Christchurch, 8081

Or,
Email: tom@mcbridewealth.co.nz

Dispute Resolution Process

If McBride Wealth is unable to resolve the issue, or if you choose not to use its internal complaints scheme, you can contact the Dispute Resolution Service, Financial Services Complaints Ltd (FSCL). FSCL is a free, independent dispute resolution service that may help resolve the matter.

You can contact FSCL at:

Address: PO Box 5697, Wellington 6140
Phone: 0800 347 257/ (04) 472 3725
Email: complaints@fscl.org.nz

Duties Information

In accordance with the Code of Professional Conduct for Financial Advice Services, McBride Wealth and its advisers are required to meet certain duties, such as:
a) Ensuring they meet the appropriate standards of competence, knowledge, and skill.
b) Giving priority to clients’ best interests.
c) Exercising care, diligence, and skill in giving financial advice.
d) Meeting the standards of ethical behaviour, conduct, and client care as set out in the Code