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Disclosure

Public Disclosure by Bloomsbury Associates Limited as required by The Financial Markets Conduct (Regulated Financial Advice Disclosure) Amendments Regulation 2020.

Licensing information

Financial Advice Provider:
Bloomsbury Associates Limited
FSPR Number:
FSP388266
Phone:
+64 4 499 6979
Email:
info@bloomsbury.co.nz
Physical Address:
Level 9, 36 Brandon Street, Wellington 6011, New Zealand
Postal Address:
PO Box 28107, Wellington 6150, New Zealand.

Bloomsbury Associates Limited holds a Class 2 Financial Advice Provider Licence issued by the Financial Markets Authority.

There are no special conditions that apply to this license.

Nature and scope of the advice

Bloomsbury Associates provides regulated Financial Advice to our clients in respect of:

  • Financial Advice and Investment Planning Services
  • Managed Funds - Superannuation - Kiwi Saver

We are not restricted in respect to the financial products that provide regulated financial advice on:

  • For investment we provide advice on a wide range of NZ and foreign managed investment products & accounts, listed equities, and government & corporate bonds.
  • For KiwiSaver we have relationships with KiwiWRAP, Booster, and SuperLife. We are not restricted to these schemes and are permitted to consider other options as may be most appropriate for our clients.

Fees or expenses

For investment advice, Bloomsbury Associates will typically charge a fee for any financial advice and investment planning implemented for the client.

  • We do NOT charge a fee for our initial consultation meeting. We may charge for preparing an Investment Plan. If the planning fee is waived, we request that clients consider making a voluntary tax-deductible charitable donation in lieu of a fee.
  • We do charge for managing personal investment portfolios and providing ongoing advice and support. Our maximum fee is 1.20% (+ GST) per annum of the value of the assets under management, with reductions for larger or simpler accounts.
  • We do charge for managing KiwiSaver investment portfolios and providing ongoing advice and support. Our maximum fee is 0.75% (+ GST) p/a.

In addition to our fees various external parties may charge for their services where utilised by our clients.

Specific fees that relate to our proposed scope of service for you will be fully detailed at the time a recommendation is made.

Conflicts of interest and incentives

We do not have any perceived or actual conflicts of interest with any new clients.

To ensure that we prioritise your interests above our own, we follow an advice process that ensures our recommendations are based on your objectives, needs and circumstances. I further manage possible conflicts of interest by:

  • Putting my client's needs first.
  • Avoiding any production requirements for one product provider.
  • Using third party product research as part of our analysis.
  • Having our processes studied annually by a reputable compliance adviser.

We have some existing clients currently invested in a KiwiSaver scheme which pays us a small amount of commission in lieu of an advice fee.

Complaints handling and dispute resolution

Any complaints received will be treated seriously and with respect, with all reasonable steps being taken to understand and resolve the complaint in a manner that is satisfactory to you.

We will contact you by telephone within one week to discuss the complaint with you. If you are comfortable discussing the complaint over the telephone, we will attempt to resolve the complaint during this initial call. If you would prefer, we will meet with you in person to discuss the complaint. We will endeavour to ensure that this meeting takes place within one week of receipt of the complaint, and at a location acceptable to you. We will inform you prior to this meeting that you are welcome to bring a support person to the meeting if you desire.

If the complaint cannot be resolved, you can contact the Insurance & Financial Services Ombudsman free of charge. We will cooperate fully with them and their handling of the complaint.

Insurance & Financial Services Ombudsman (IFSO)

Website:
IFSO - Complaints
Email:
info@ifso.nz
Phone:
0800 888 202
Postal address:
PO Box 10-845
Wellington 6143

Duties Information

Bloomsbury Associates has duties under the Financial Markets Conduct Act 2013 relating to the way advice is provided.

We are required to:

  • Give priority to your interests by taking all reasonable steps to ensure our advice isn't materially influenced by our own interests.
  • Exercise care, diligence, and skill in providing you with advice.
  • Meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice).
  • Meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice).

This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website.