Any adviser who provides personalised advice to clients is legally required to disclose certain information about their services. This is so that you, the client, can make informed decisions. Below is the disclosure statement for Spencer Reese and Simple Money. We are happy to answer any further questions you may have.
Licensing information
Spencer Reese (trading as Simple Money) is registered on the Financial Service Providers Register (FSP1009459) and holds a Financial Advice Provider licence issued by the Financial Markets Authority.
Nature and scope of advice
Spencer Reese provides advice to our clients about their investments, KiwiSaver, general finances and budgeting, and retirement planning.
I am an independent adviser and provide research and advice across a wide range of products and funds.
Spencer Reese usually recommends low-cost index funds due to their low cost and long term performance.
Fees
Spencer Reese offers 2 services with 2 fee structures:
Holistic Financial Review. The Holistic Financial Review costs $2,000 inclusive of GST. The scope of the engagement includes:
- A 30 minute complimentary introductory call to ensure client understands the scope and nature of the advise to be given.
- A confidential questionnaire to gather information to provide the advice and opportunity for the client to furnish information
- Information gathering session over secure Google Meet video conference scheduled for 2 hours
- The deliverable will be a Statement of Advice, detailing the financial plan generated and any recommendations.
- Finally, a 1 hour follow up call to address any lingering questions and to present the financial plan.
- A complimentary one year follow-up call, available 6-24 months after the presentation of the statement of advice
Hourly rate. The hourly rate is offered to clients interested in a 1 hour financial advice session with a expert professional. The scope of the engagement is an onboarding questionnaire and secure documents upload if necessary.
A 1 hour consulting call to answer the clients questions will be conducted at a time of the client’s choosing, respecting the availability of the financial adviser. After the call, the financial adviser will provide an actionable email to the client. $500 (including GST) per hour.
Fees are to be paid before the consulting call commences.
Conflicts of interest and incentives
Spencer Reese’s only method of payment is from the client. We receive no other payment for our recommendations. Therefore, we have no conflicts of interest to report.
Reliability History Disclosure
Spencer Reese has no disciplinary history, relevant convictions, bankruptcies, or insolvency proceedings to disclose.
Complaints handling and dispute resolution
If you have a problem, concern, or complaint about any part of our service please tell us so we can try to fix the problem. You may contact our internal disputes service by phone, mail, or email. Email is the preferred method of communication for rapid resolution of the complaint or dispute.
If we cannot agree on how to resolve the issue, or you decide not to use the internal complaints service, you can contact Financial Services Complaints Limited – A financial Ombudsman service.
FSCL is our independent external ombudsman and dispute resolution service that has been approved by the Minister of Consumer Affairs under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. This Financial Ombudsman service will cost you nothing, and will help us resolve any disagreements. You can contact Financial Services Complaints Limited by emailing [email protected], calling 0800 347 257, or in writing to PO Box 5967, Lambton Quay, Wellington 6145.
Duties information
Simple Money has duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice. We are required to:
- Give priority to your interests by taking all reasonable steps to make sure 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 behavior, 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 at https://www.fma.govt.nz.
Contact details
Spencer Reese (FSP 1009459) is the financial advice provider.
You can contact me at:
Phone: 072 811 045
Email: [email protected]
Mailing Address:
Simple Money NZ
PO BOX 578
7th Ave Box Lobby
Tauranga 3144
You can find my privacy policy here.