our business details.
Polson Higgs Wealth Management Limited (FSP 26381), trading as phwealth, holds a full licence issued by the Financial Markets Authority to provide financial advice.
the services we provide.
- Financial advice
- Investment advice
- Financial planning
- Discretionary Investment Management Service (DIMS)
More detailed information about our services can be found here.
products we advise on.
- Managed investment funds and exchange traded funds (ETFs) available to be distributed in New Zealand.
- KiwiSaver and superannuation schemes
We are not restricted to any organisation’s products other than they meet our requirements.
our fees.
We charge fees for advice and services we provide. We will discuss and agree the actual fees with you in writing once we know what your needs are, before we proceed, and explain how they are payable. The types of fees that may apply are:
One-off fees
- We quote a fee in advance for written advice and financial planning. This fee is payable by the client by the 20th of the month following completion of the written advice.
- phwealth charges an administration fee as a contribution to the cost of establishing investments.
On-going fees
- An advisory service fee is charged and paid monthly to phwealth within the administration service as a percentage of funds under advice.
- An FNZ administration and custodial fee is charged by the custodian as a percentage of funds under advice and paid monthly within the administration service.
Transaction fees
- There are costs involved with most financial transactions and these are paid to either the investment fund or the share broker as part of the transaction. phwealth does not receive any renumeration from these fees.
More detailed information about our fees can be found in our Service Disclosure Statement and Investment Proposal.
conflicts of interest and other relationships.
Our clients’ interests are our priority. We act as fiduciaries to all our clients.
phwealth is a wholly owned subsidiary of Craigs Investment Partners Limited (“Craigs”), an investment advisory firm in New Zealand. Craigs ultimate holding company Crown TopCo Limited is 50% owned by Crown UK TopCo Limited and 50% owned by current and former Craigs employees and directors via a shareholding in CIP Holdings No.2 Limited (“CIPH2”). Crown UK TopCo is owned by funds managed by TA Associates, a global private equity firm.
Our financial advisers, who are shareholders in CIPH2, will receive any distributions paid by CIPH2 in respect of revenue earned by Craigs and its’ related companies. Our financial advisers who are shareholders of CIPH2 could potentially receive benefit from clients who invest in products offered by phwealth. Any dividends paid by CIPH2 to our financial advisers who are shareholders of CIPH2 have no effect on the financial advice provided to you.
Financial advisers supporting phwealth clients operate under different employment arrangements. Some financial advisers are employed by Craigs and are seconded to phwealth and receive a fixed salary and potentially discretionary financial benefits based on a range of factors. Other financial advisers are employed by phwealth and receive a fixed salary and may be eligible for a discretionary annual bonus based on a range of factors.
We have business relationships with fund managers and providers of services we outsource to. From time to time, we take part in conferences and professional development training with these parties but always at our own expense other than occasional refreshments provided on the day.
All our financial advisers undergo annual training about managing conflicts of interest.
Our financial advisers and staff, and their families and friends also invest via the phwealth DIMS alongside our clients. To this extent we have an interest, but our rationale is based on the investment philosophy, not on any obvious or direct gain we might receive.
At the date of this document there are no benefits that phwealth, or any associated person, might receive that would or could reasonably be expected to materially influence our recommendations to acquire or dispose of any financial products or investment securities associated with the phwealth DIMS.
feedback, complaints and dispute resolution.
We strive to continuously improve our services and standards and we welcome your feedback. If you are not happy with any part of our advice or service, please contact your adviser or Rhodes Donald (CEO) on 027 223 8520. We will look to fix things quickly. Please see our detailed Feedback and Complaints Handling Process.
competence, knowledge and skill.
phwealth and our advisers have duties under the Financial Markets Conduct Act 2013 relating to the way we give advice. We put your interests first, manage conflicts of interest, constantly improve our knowledge and skill in all relevant areas including ethical behaviour and adhere to the financial advisers Code of Conduct.
custodian.
FNZ Limited (FNZ) is a provider of investment administration services to Consilium (NZ) Limited (Consilium), on an institutional (wholesale) basis which enable Consilium to provide wealth management services to you. FNZ services comprise:
- investment administration – actioning instructions in regards of your investments
- custody – holding your investments in trust for your benefit.
FNZ earns income from deducting administration fees from your investments for brokerage, interest earned and currency conversions.
For FNZ’s full disclosure statement, please read the attached link.