Pie Funds Management Limited (Pie Funds) is licenced by the Financial Markets Authority to provide financial advice.
NATURE AND SCOPE OF FINANCIAL ADVICE SERVICE
We mainly give advice on our own funds under the Pie Funds Management Scheme and the JUNO KiwiSaver Scheme (Schemes). We may also give opinions or recommendations about other financial products such as listed equities, other managed funds, bonds and fixed interest.
Our financial advisers give tailored financial planning advice on products on our approved list only. A copy of this list is available on request. It is skewed towards Pie products but does include some third party products.
We also give general advice online or through our nominated representatives. This advice does not take into account your personal circumstances or financial objectives.
Our client services teams cannot give advice, but they can refer you to one of our financial advisers depending on your circumstances, or provide information from Pie Funds to help you make informed choices.
We, and our staff who give advice, have duties under the Financial Markets Conduct Act. When giving advice, we must meet the standards of competence, knowledge and skill, and ethical behaviour, conduct and client care set out in the Code of Conduct for Financial Advice Services. We must exercise care, diligence and skill and give priority to your interests.
FEES, EXPENSES OR OTHER AMOUNTS PAYABLE
We charge fees when you receive personalised advice from our financial advisers. This is comprised of a monthly fee directly correlated to the amount of funds under advice, plus a fee to access our dedicated wealth platform.
CONFLICTS OF INTERESTS AND COMMISSIONS OR OTHER INCENTIVES
We’d like to make you aware of the following conflicts of interest:
- Pie Funds is the manager of the Schemes: Pie Funds receives fees as manager of the Schemes. Pie Funds benefits financially if you invest in a Scheme.
- Shareholding: Our financial advisers are minor shareholder of Pie Funds. The value of their shareholdings is related to the business success of Pie Funds. This is influenced by the total funds under advice and total funds under management of Pie Funds. We manage this conflict by requiring a proportion of all financial adviser recommendations to include non-Pie Funds products, unless you specifically direct otherwise.
- Remuneration: Our financial advisers are paid by Pie Funds with a base salary and potential bonus. Individual product recommendations to clients do not affect their pay, but it is affected by increases to funds under advice and advice fee revenue. For this reason, we require our advisers to show they have complied with their duties under the Act and other conduct standards to be eligible for bonuses and any salary increases.
We manage conflicts of interest by providing you information about them and ensuring our staff receive regular training about their duties and are subject to an internal compliance programme designed to ensure they meet them. Our financial advisers will disclose any individual issues they identify that might present a conflict of interest and they will not proceed without your consent.
Please direct any complaints about Pie Funds, your adviser, or the advice offering at:
Pie Funds, Level One, 1 Byron Avenue, PO Box 33 1079, Takapuna, Auckland Attention: Client Services; Telephone: +64 9 486 1701; Email: [email protected]
Our compliance team monitors all complaints. We will acknowledge any complaint within 2 working days and we will aim to resolve it within one month.
We are a member of the Financial Services Complaints Limited (FSCL), an independent dispute resolution scheme. If you make a complaint and the complaint cannot be resolved, you may refer to FSCL.
You can contact FSCL at: Level 4, 101 Lambton Quay, Wellington 6011 PO Box 5967, Wellington 6140 ; Telephone: 0800 347 257; Email: [email protected]; Website: www.fscl.org.nz
FSCL will not charge you a fee.
Please let us know if you would like a hard copy of this disclosure information.