Important information about our business
McKenzie Enterprises Limited Financial Services Provider Number 708191 trading as: McKenzie Financial Planning, holds a licence issued by the Financial Markets Authority to provide financial advice.
We are located at 31 Balfour Crescent, Riverlea, Hamilton
You can contact us:
Reid McKenzie | 0275888997 | Reid@mckfp.co.nz | FSP 1001338
Luke McKenzie | 021355247 | Luke@mckfp.co.nz | FSP 39965
McKenzie Financial Planning advisers provide advice about the following products:
· Investments / Managed funds
· Personal insurance (risk), including health insurance
The actual fee charged to you will depend on the nature and scope of the advice or service we provide. We will discuss and agree the actual fees with you before we proceed and explain how they are payable.
The fees charged for our advice and services may be based on a combination of a set dollar amount or a percentage-based fee.
Our agreed advice and service fees may include charges for Initial advice, ongoing or annual advice and services
For services in relation to insurance, some investment products and loan products, commissions may be paid by the product provider as follows: Initial commission - a percentage of the value of your investment contributions, loan balance or insurance premiums; and
Ongoing commission - a percentage of the value of your investment balance, or premiums, usually calculated at the end of each month in which you hold the investment , or on renewal of insurance products.
We provide advice in relation to the below companies products & charge/are paid the following:
Flat fee for advice: $0 - we do not charge clients to provide Kiwisaver recommendation/s.
Ongoing adviser fee: 0%-0.50% of funds under management p.a. - this is to provide ongoing financial advice and monitoring of the recommended Kiwisaver investment.
Flat fee for advice: $105 - We charge clients a one-off fee to provide a managed fund investment recommendation suitable to their goals.
Ongoing adviser fee: 0.25%-0.50% of funds under management p.a. - this is to provide ongoing financial advice and monitoring of the recommended managed fund investment.
Fisher Funds Individually Managed account (IMA) :
0.75% p.a. FUM paid by client from their investment account monthly.
One-off $1000 implementation & advice fee paying upon setting up this investment.
Fisher Funds Individually Managed account (IMA) :
Flat fee for advice: $1075 - we charge clients a one-off implementation & advice fee paying upon setting up this investment.
Ongoing adviser fee: 0.75% of funds under management p.a. - this is to provide ongoing financial advice and monitoring of the recommended managed fund investment.
Life, TPD, Trauma & income protection insurance - commission paid by insurance company to advisor monthly based on value of insurance.
Health insurance - commission paid by insurance company to advisor monthly based on value of insurance.
Conflicts of interest
McKenzie Enterprises Limited has an agreement for services with Ignite (a service company that does not provide financial advice). IGNITE has a preferred investment provider agreement with Fisher Funds Management Limited (Fisher Funds) relating to investments placed with Fisher Funds by IGNITE member clients.
No portion of any such fee is paid to McKenzie Enterprises Ltd or its advisers, and we are not under any obligation to place any particular level of business with Fisher Funds, but McKenzie Enterprises Ltd indirectly benefits from those fees through the IGNITE member services they help fund.
For life insurance and health insurance, McKenzie Enterprises Limited and the financial adviser receive commissions from the insurance companies whose policies we can recommend. If you decide to take out insurance that we recommend, the insurer will pay a commission to McKenzie Enterprises Limited and/or the adviser who provides your advice. The amount of the commission is based on the amount of premium associated with your cover; specific commissions will be advised to you when advice is provided.
How we manage any conflicts of interest
To ensure our advisers prioritise our clients’ interests:
• We follow an advice process that ensures our recommendations are made appropriately, based on clients’ goals and circumstances.
• All our advisers undergo annual training about how to manage conflicts of interest.
• We maintain registers of conflicts of interests and the gifts and incentives we receive. These registers are monitored regularly, and additional training is provided as required.
• We undertake an annual independent Compliance Assurance Review.
Disputes and complaints
If you are not satisfied with our financial advice service you can make a complaint by emailing firstname.lastname@example.org or by calling 07 839-1096 You can also write to us at 31 Balfour crescent Hamilton. When we receive a complaint, we will consider it using our internal complaints process:
• We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.
• We aim to resolve complaints within 10 working days of receiving them. If we cannot, we will contact you within that time to let you know we need more time to consider your complaint.
• We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so.
If we cannot resolve your complaint, or you are not satisfied with the way we propose to do so, you can contact Insurance and Financial Services Ombudsman provides a free, independent dispute resolution service that may help investigate or resolve your complaint if we have not been able to resolve your complaint to your satisfaction. You can contact Insurance and Financial Services Ombudsman by Address: Level 2 70 The Terrace Wellington 6143, Telephone number: 0800 888 202, Email address: email@example.com
Our duties and obligations to you
We are bound by the duties of the Financial Markets Conduct Act (431I, 431K, 431L and 431M) to:
● Meet the standards of competence, knowledge and skill set out in the Code of Conduct
● Give priority to the clients’ interest
● Exercise care, diligence and skill
● Meet the standards of ethical behavior, conduct, and client care set out in the Code of Conduct.