Disclosure Statement

Financial Advice Provider

Cave Financial Consulting Limited trading as CAVE FINANCIAL.
FSP468026

Licencing Status

Transitional Licence with the Financial Markets Authority.

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.

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 competence and skill to deliver advice in our area of expertise.
6. 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.

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.

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.

Cave Financial receives all commissions and client fees that are negotiated by the Financial Advisers working with us. Fees are charged for expertise and opinion, not product placement or ‘brokering’, unless requested by a client and agreed to by Cave Financial.

Commissions

There are situations in which we will be paid by a supplier company, for ‘brokering’ or implementing a financial product or service on behalf of the client. The benefit to the client is that for the expertise and time involved in the implementation process, no matter how long it takes, there is no direct fee payable by the client to Cave Financial.

Cave Financial does not charge our clients for services where we are remunerated by the provider of the products and services that our clients have chosen to implement.

When implementing life insurance, mortgages, KiwiSaver or Investments, we are paid via ‘brokerage’, or commission, with Cave Financial only receiving payment if we are successful in placing business which the client is happy with.

More details will be provided once the nature and scope of engagement is determined and during the advice process

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.

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.

If your complaint cannot be satisfactorily resolved this way, it then 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 internal complaints process, likely timeframes, and our Disputes Resolution Scheme which you can access at any stage should you choose to.
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