Disclosure Statement

Financial Advice Provider

Cave Financial Consulting Limited trading as CAVE FINANCIAL.
FSP468026

Licencing Status

Class 2 Licence issued by the Financial Markets Authority on 3 June 2022.

Areas of Financial Advice Provided

Cave Financial only provides financial adviser services in the following areas:

• Personal, business and group risk insurance.
• Financial advice.
• Mortgages and lending.
• KiwiSaver advice.
• Investment and financial planning services.

We have access to a range of suppliers for the above products and services, which includes but is not limited to;

• Accuro
• AIA New Zealand
• AMP
• ANZ
• ANZ Investments
• ANZ OneAnswer KiwiSaver
• AON
• ASAP Finance
• ASB
• Asteron
• Avanti Finance
• Bluestone Home Loans
• BNZ Home Loans
• Booster KiwiSaver & Investments
• Cigna NZ
• Consilium Wrap/Synergy Investments
• Co-operative Bank
• Core Finance
• Cressida Capital
• DBR Property Finances
• Fidelity Life
• First Mortgage Trust
• Fisher Funds KiwiSaver
• Generate KiwiSaver
• Milford KiwiSaver & Milford Asset Management
• Nib NZ
• Partners Life
  
• Resimac Home Loans
• Resolution Life
• SBS Bank
• Southern Cross Health NZ
• Southern Cross Partners
• Sovereign Home Loans
• Westpac Life

Our Obligations to our Clients

1. Treat our clients fairly.
2. Act with integrity.
3. Provide financial advice which is suitable for our clients.
4. Protect their privacy and confidential information.
5. Maintain the ethical and behavioral standards required by our professional body (Financial Advice New Zealand) in addition to the duties of care required under New Zealand law.  They are;

• meet the standards of competence, knowledge, and skill set out in the code of conduct; and
• give priority to the client’s interests; and
• exercise care, diligence, and skill; and
• meet the standards of ethical behaviour, conduct, and client care set out in the code of conduct

Conflicts of Interest

Cave Financial has no financial interests in any insurance, lending, investment or KiwiSaver company. Should any actual or potential conflict of interest arise during our engagement with you, we will bring that to your notice promptly and then seek to manage or avoid the conflict if at all possible.

If management or avoidance of a conflict to your satisfaction is not possible then we will resign from the engagement with you and professionally assist with the appointment of a replacement and more suitable adviser.

Cave Financial may be paid a commission by any of the abovenamed product providers (or any other product provider which may be used) upon successful implementation of a product.  That means if a client puts a product in place through us we may get paid a commission. In every engagement with every client we will fully disclose what commissions may be payable upon implementation in advance, and in writing. That disclosure will highlight any specific conflicts.

Cost of Advice

Any remuneration arrangements will be negotiated directly with every potential client before any engagement with that client is agreed to.

We may charge fees and/or be paid commissions depending upon the scope of the engagement agreed to by a client.  Any such fees will be agreed to by a client in advance.  Specific details will be provided once the nature and scope of engagement is determined and during the advice process.

Cave Financial receives all commissions and client fees that are agreed with the Financial Advisers working with us, from which Cave Financial pays its professional expenses and licencing requirements, amongst other operational costs. Fees are charged for expertise and opinion, not product placement or ‘brokering’, unless requested by a client and agreed to by Cave Financial.

Non-monetary Benefits

From time to time we may receive certain non-monetary benefits from product providers. These benefits could include travel, corporate gifts and invitations to sporting or charitable events. We may also receive subsidised professional development benefits, generally valued at less than $500 in total.  If any gifts or incentives above this amount are involved at any time in any engagement which might present a conflict that a client should be aware of that will be fully disclosed.

Disciplinary History

There have been no Professional Indemnity insurance or negligence claims, disputes resolution actions, or disciplinary actions brought against Cave Financial.

Complaints

If you have a problem, concern, or complaint about any part of our service, please tell us so that we can try to fix the problem.

Cave Financial has an internal complaints process and we undertake to investigate your concerns promptly and fairly. You may contact us to make a complaint by telephone, via email or in writing by contacting The Practice Manager at:

Phone number: 09 302 7310

Email address: service@cavefinancial.co.nz

We will endeavour to resolve your issue as rapidly as possible – ideally within 1-3 working days if the matter is within our control. If it involves an external party (e.g. an insurance company) then it will almost certainly take longer. If we are unable to resolve the complaint to everyone’s satisfaction then the matter becomes a dispute.

The Dispute Resolution process is:

1. In the event of a dispute, you must notify us that the complaint is not resolved and is now a dispute.
2. We will confirm in writing our Disputes Resolution Scheme which you can access at any stage should you choose to, and which is free of charge to you..
3. Should we fail to handle the problem to your satisfaction within a reasonable timeframe then the product providers themselves have internal complaints handling processes which you might wish to also access. This means that if we have used a particular product that is connected to the issue at dispute, you can contact the company that issued that product and have them attempt to resolve the matter as well.
4. If these options fail to resolve the dispute to your satisfaction, then you may take the matter to the Financial Dispute Resolution Service (“FDRS”) of which we are a member. We are bound by the outcome of that process. You can choose to be bound by the outcome but you can also choose to be free to pursue other legal avenues if you wish.

You can contact:

Financial Dispute Resolution Service
PO Box 2272
Wellington 6140

Level 4
142 Lambton Quay
Wellington 6011

Phone: 0508 337 337
Email: info@fdrs.org.nz
Website: www.fdrs.org.nz