Disclosure

Important Information about us

Licensing information

ASA Investments Limited (FSP726891, trading as Lookahead) holds a licence issued by the Financial Markets Authority (FMA) to provide financial advice.

The nature and scope of the advice

‘We provide financial advice about the following:

  • Mortgages

  • Business and Personal finance

  • KiwiSaver

  • Investment Managed Funds

  • Personal Risk Insurance -Life cover – lump sum and paid monthly, cash back life cover (AIA NZ), permanent term life cover, trauma insurance, income protection insurance, mortgage protection insurance, total and permanent disablement insurance, medical insurance, and premium waiver).being Life Cover, Income Protection Trauma and Disability Insurance

  • Business Risk Insurance-Products that complement personal risk insurance e.g. shareholder protection, debt protection, key person protection, and ACC Levy restructure; plus business products including locum cover, business overheads protection, start-up income protection, key person benefit, and business continuity cover).

We also provide a Lifetime Cashflow planning service and other planning and consultancy work.

Who we work with

For Mortgages

 We work with major bank lender and a range of non-bank lenders as follows:

 The major bank Lenders that we work with are ANZ, BNZ ASB, Westpac, Kiwibank,SBS Bank and The Cooperative Bank.

 The non-bank lenders that we work with are AIA Go Home Loans, Unity Money, Avanti Finance, Bluestone, Resimac, Pepper Money, Liberty Finance, First Mortgage Trust, DBR Properties and Cressida Capital

For KiwiSaver and Investment Managed Funds

We use Superlife for KiwiSaver and Investment Managed Funds.

For Personal Risk and Health Insurance

For personal risk and health insurance we use AIA Life and Fidelity Life

For Business Risk Insurance

We use AIA Life for Business Risk Insurance.

Fees and Expenses

The actual fee payable by a client will depend on the nature and scope of the advice or service we provide.

Mortgages and Business Finance

‘We MAY charge a one-off fee for work completed for mortgage and business finance clients, which does not attract a commission payment from the Lender. This fee, if applicable, will be clearly discussed and agreed with you prior to you entering into any formal agreement.

KiwiSaver and Managed Fund Investments

By adding me as an Adviser on your KiwiSaver, I will receive a small amount from Superlife so I am able to assist with your KiwiSaver. The maximum financial adviser fee is (a) 0.5% of your account balance or (b) $500 per annum. Please note that this fee is in addition to the fees that Superlife charges.

By adding me as an Adviser on your Investment Managed Fund, I will receive an amount from Superlife so I am able to assist with your Managed Fund. This fee will be clearly discussed and agree with you prior to entering into a formal agreement. Please note that this fee is in addition to the fees that Superlife charges.

Personal Risk and Health Insurance and Business Risk Insurance

The following fees may apply to Personal Risk and Health Insurance advice provided by ASA Investments Limited Ltd

  • The fees charged for our advice and services is based on our hourly rate of $150.00 + GST per hour

  • An initial minimum flat fee of $300.00 + GST may be charged which covers the first 2 hours of work.

  • We may charge (once discussed and agreed upon) for subsequent time spent to complete the work in proportion to the time spent at the rate of $150.00 + GST per hour. If advice on ACC Levy Restructure is given, we will charge an initial fixed fee of $395.00 + GST.

These fees will be payable within 10 business days of the insurance plan being presented which is when we will send you our invoice.

Where other costs are incurred in the process of providing our advice and services to you for personal risk and health insurance advice, you will be liable for these costs.

However, we will discuss and agree on all additional costs with you prior to you incurring them.

Other costs may include claim servicing beyond the first 10 free hours per claim allotted with the implementation of the recommended insurance plan, which will be calculated at the rate of $150.00 +GST per hour in proportion to time spent.

We will discuss and agree the actual fees with you before we proceed and get your agreement in writing

Planning Services

Fees payable directly by the client to ASA Investments Limited upon invoice for on Lifetime Cashflow planning, Cashflow Analysis, Retirement Planning, and Investment Planning or other consultation work may be applicable.  Fees are charged for expertise and opinion.  If fees are to be paid, then:

  • The Maximum hourly rate charged is $350 (+GST)

  • Terms of payment are payment within 7 business days of invoice being issued, with direct credit to the bank account of ASA Investments Limited

We will discuss and agree the actual fees with you before we proceed and get your agreement in writing.

‘We MAY charge a one-off fee for work completed for mortgage and business finance clients, which does not attract a commission payment from the Lender. This fee, if applicable, will be clearly discussed and agreed with you prior to you entering into any formal agreement.

The preparation of a Statement of Advice, which includes Lifestyle Cashflow planning, Cashflow analysis and Retirement funding options as appropriate. This is done on a time/cost basis and is always specifically quoted and agreed in advance.

Fees depend on the service used. The following are Standard Lifestyle Cashflow Planning services:

First Home Plan- Get on the ladder sooner, $350 Gst Inclusive Upfront Fee.Terms of payment are payment within 7 business days of invoice being issued, with direct credit to the bank account of ASA Investments Limited

Mortgage Buster-Get Mortgage free faster, $500 Gst Inclusive Upfront Fee. Terms of payment are payment within 7 business days of invoice being issued, with direct credit to the bank account of ASA Investments Limited

Retirement Ready - Get Retirement Ready, $1000 Gst Inclusive Upfront Fee. Terms of payment are payment within 7 business days of invoice being issued, with direct credit to the bank account of ASA Investments Limited

By adding me as an Adviser on your KiwiSaver, I will receive a small amount from our provider Superlife so I am able to assist with your KiwiSaver. The maximum financial adviser fee is (a) 0.5% of your account balance or (b) $500 per annum. Please note that this fee is in addition to the fees that Superlife charges.

By adding me as an Adviser on your Managed Fund, I will receive an amount from our provider Superlife so I am able to assist with your Managed Fund. This fee will be clearly discussed and agree with you prior to entering into a formal agreement. Please note that this fee is in addition to the fees that Superlife charges.

We do not charge our clients any other fees (including implementation, transaction or exit fees), expenses or anything else directly for the financial advice that we provide.

General

Fees are charged for expertise and opinion, not for product placement or “brokering”, unless requested by a client and agreed to by ASA Investments Limited.  An estimate of fees for any engagement can always be provided in advance, and if necessary, we can agree in advance to a fixed price for an engagement.

We do not charge our clients any other fees (including implementation, transaction or exit fees), expenses or anything else directly for the financial advice that We provide.

Commissions and Incentives

Mortgages

ASA Investments Limited will be receiving commission from the lenders with whom we arrange mortgages. If you do decide to take out a mortgage the lender will be paying commission to ASA Investments Limited.

The following commissions may be payable by the lenders:

·         Upfront Commission – a percentage of the value of the value of the mortgage. The amount of the commission is based on the amount of the mortgage.

  • Trail Commission – a percentage of the value of the outstanding mortgage, that is paid by the lender monthly.

Some lenders do not pay trail commission. In that instance the lender would pay a fixed rate rollover fee, on advice provided with rolling over a fixed rate mortgage.

Specific commissions payable and or Fixed rate rollovers fees whichever is applicable will be advised to you at the time we provide our advice.

Business Finance and Personal Finance

ASA Investments Limited will be receiving commission or a referral commission whichever is applicable from the lenders with whom we arrange business finance or personal finance. If you do decide to take out the business lending the lender will be paying a commission or referral commission whichever is applicable to ASA Investments Limited.

 The amount of the commission or referral commission will be communicated to you before taking up the offer for finance from the applicable lender.

Personal Risk and Health Insurance and Business Risk Insurance

ASA Investments Limited receives commission from the insurance providers on whose products we give financial advice. If you decide to take out insurance, the provider will pay a commission to ASA Investments Limited. The amount of commission is based on the amount of the premium associated with the type and level of cover you decide to take out.

The following commissions may be paid by the insurance provider:

  • Initial commission – a percentage of the value of your insurance premiums; and

  • Ongoing commission – a percentage of the value of your annual premiums, usually calculated at the end of each month in which your insurance policy renews.

We may, from time to time, participate in insurer funded promotional events or training and development. Sometimes we are reimbursed by insurers for our costs related to promotional marketing. We may also receive non-monetary benefits from insurers which may include entertainment and attendance at insurer sponsored functions. These benefits are not generally attributed to any particular type of insurance or insurance policy.

Specific commissions payable will be advised to you at the time we provide our advice.

Conflicts of Interest and Incentives

ASA Investments Limited will be receiving commission from the lenders with whom we arrange mortgages. If you do decide to take out a mortgage the lender will be paying commission to ASA Investments Limited. The amount of the commission is based on the amount of the mortgage.

ASA Investments Limited will be receiving commission or a referral commission whichever is applicable from the lenders with whom we arrange business finance or personal finance. If you do decide to take out the business lending the lender will be paying a commission or referral commission whichever is applicable to ASA Investments Limited. The amount of the commission or referral commission will be communicated to you before taking up the offer for finance from the applicable lender.

ASA Investments Limited will be receiving fees collected by KiwiSaver and Managed Fund Investment Providers where applicable, and or Fees payable by clients for Investment Planning service or for other planning and consultancy work.

ASA Investments Limited will be receiving commission from the Personal Risk Insurance Providers that we arrange cover with.

Our adviser is paid a salary by ASA Investments Limited.

To ensure that our financial adviser prioritize the client’s interest above his own, he follows an advice process that ensures that recommendations are made based on the client’s goals and circumstances. We undertake a compliance audit and a review of our compliance program annually in the form of a compliance assurance review by Strategi Limited. ASA Investments Limited also has a conflict of interest register that is reviewed by Strategi Limited as part of an annual compliance assurance review.

Complaints Handling and Dispute Resolution

If you are not satisfied with our financial advice service, you can make a complaint by emailing andre@lookahead.co.nz or by calling 027 227 5237. You can also write to us at, The Director, ASA Investments Limited, 3B Torrington Crescent, Glen Innes, 1072.

When we receive a complaint, we will consider it following our internal complaints process.

  • We will consider your complaint and let you know how we will resolve it. We may need to contact you to get further information about your complaint.

  • We aim to resolve complaints within 4 working days if the complaints is considered to be minor, and 21 working days if considered to be major.  If we can’t resolve the complaint within that time to let you know we need more time to consider the 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 can’t resolve your complaint then, or if you are not satisfied with the way it would be in deadlock upon which we propose then that you contact Financial Services Complaints Limited.

Financial Services Complaints Limited provides a free, independent disputes resolution service that may help or investigate your complaint if we haven’t resolved your complaint to your satisfaction.

You can contact Financial Services Complaints Limited by emailing complaints@fscl.org.nz or by calling 0800 347 257. You can also write to them at Level 4, Sybase House, 101 Lambton Quay, Wellington 6011, or PO Box 5697, Wellington 6140.

Duties information

ASA Investments Limited and anyone who gives financial advice and or an Investment Planning Service on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.

We are required to

  • To give priority to your interests by taking all reasonable steps to ensure that our advice isn’t materially influenced by our own interests.

  • Exercise care diligence and skill in providing you with financial advice.

  • Meet standard of competence, knowledge, 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 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 at https://www.fma.govt.nz

Contact Details

ASA Investments Limited (FSP726891, trading as Lookahead) is the Financial Advice Provider

You can contact us as follows:

Phone: 027 227 5237

Email: andre@lookahead.co.nz

Address:  3B Torrington Crescent, Glen Innes, Auckland 1072