Financial advice fees & important information about our business
McKenzie Enterprises Limited Financial Services Provider Number 708191 trading as: McKenzie Financial Planning & Move My Pension, 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:
Luke McKenzie | 021355247 | Luke@mckfp.co.nz | FSP 39965
Reid McKenzie | 0275888997 | Reid@mckfp.co.nz | FSP 1001338
Our Services
McKenzie Financial Planning advisers provide advice about the following products: |
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Financial advice fees
The actual financial advice fees 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 financial advice and services may be based on a combination of a fixed flat 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
We provide advice in relation to the below financial products & charge/are paid the following financial advice fees:
Kiwisaver
Flat fee for advice: $0 - we do not charge clients to provide Kiwisaver recommendation/s.
Ongoing adviser fee - Provider paid fee: Typically the KiwiSaver provider will pay the adviser an ongoing servicing fee to manage and provide financial advice to the client on their KiwiSaver fund. This servicing fee is paid by the KiwiSaver Provider direct to the adviser. This fee is normally 0.25% or 0.50% of funds under management.
Ongoing adviser fee - Client fee: We may also charge a additional ongoing adviser fee on top of the provider paid fee mentioned above. This will only be in cases where provider fees received is less than 0.50% p.a.
The total ongoing adviser fee we receive for KiwiSaver (made up of provider paid fee and/or client paid fee) will not exceed 0.50% p.a. of funds under management.
We use the following KiwiSaver providers:
ANZ OneAnswer, Booster, Generate, Superlife, Fisher Funds.
Managed Funds
Flat fee for advice: $250 - 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.
We use the following Managed fund providers:
ANZ OneAnswer, Booster, Generate, Superlife, Fisher Funds.
Fisher Funds Individually Managed account (IMA) :
Flat fee for advice & implementation: $1000 - we charge clients a one-off implementation & advice fee paid 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.
Financial & retirement analysis and planning
Flat fee for financial & retirement analysis and planning: $650 - $1250 based on complexity / how many different facets of the client's situation we need to cover in the analysis and plan. This flat fee is to create & present the financial plan only, and may not include the separate implementation fee/s for product solutions we recommend i.e. setup of new managed fund/s. Fee payable after presentation of the plan.
Ongoing adviser fees: Analysis and planning work does not incur ongoing fees, however, any implemented KiwiSaver and/or managed fund products (including Fisher Funds IMA) included in the plan/recommendations will have their have their standard ongoing fees apply.
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.
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 easylink.waik@xtra.co.nz 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: info@iombudsman.org.nz
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.