Financial Advice Provide Disclosure

Hive Financial Limited (FSP Number 1009502) is a Financial Advice Provider (FAP) licensed (class 1) and regulated under the Financial Markets Authority to provide financial advice.

Nature and Scope of Engagement

Hive Financial provides advice on the following:

  • KiwiSaver

  • Investments

  • Retirement Planning

  • Personal Insurance

  • Financial Planning

Hive Financial provides advice on the following insurance products:

  • Life Insurance

  • Trauma Insurance

  • Income Protection

  • Mortgage Repayment

  • Health Insurance

We provide advice in relation to products provided by the following companies:

  • Booster

  • Synergy Investments

  • AIA Insurance

  • Evidential KiwiSaver Scheme

We are currently completing agency agreements and this list will be updated as agreements are put in place.

Hive Financial Limited does not provide advice on estate planning and taxation, we can assist you in finding an expert who can provide you with this advice.

Fees for Advice and Services

The actual fee charged to you will depend on the nature and scope of the advice or service provided. There is no charge for an initial consultation.
We may charge the following fees depending on the type of advice and service you engage us for:

  • Financial Plan Fee: $1,200
    This covers the preparation of a personalised financial plan tailored to your goals, needs, and circumstances.

  • KiwiSaver Review and Advice: $250
    This includes a review of your current KiwiSaver provider and fund, advice on appropriate investment strategy, and assistance with implementation if required.

  • Insurance Advice: No upfront fee
    We do not charge you a fee for preparing and implementing personal insurance recommendations.

  • Ongoing Investment Management: 0.5% per annum
    This is an annual fee based on the value of your investments under our management. It covers portfolio monitoring, ongoing advice, and regular reviews.

Commissions Received

Where we arrange financial products on your behalf, we may receive commission from product providers. These commissions are paid to Hive Financial and are not an additional cost to you.

  • KiwiSaver:

    • Ongoing commission of 0.2% to 0.3% per annum, based on your account balance, paid by the KiwiSaver provider.

  • Insurance Products:

    • Upfront commission: Ranges from 70% to 220% of the first year’s premium, depending on the insurer and product.

    • Ongoing commission: Typically 7% to 15% of the annual premium, paid for servicing, annual reviews and support throughout the life of the policy.

Conflicts of Interest and Incentives

While we may receive commissions from product providers, we are committed to acting in your best interests at all times. We do not accept any large gifts, inducements, or incentives that could influence our advice or the placement of clients with particular providers. Our advice is based solely on your needs, goals, and circumstances.

We follow strict internal policies and compliance processes to manage any potential conflicts of interest and to ensure that any commissions or incentives we receive do not compromise the integrity of our advice.

From time to time, we may receive small benefits from a provider for example a meal during a meeting, at a conference or a small gift e.g. a bottle of wine at Christmas.

Duties and Obligations

Hive Financial has duties under the Financial Markets Conduct Act 2013 relating to the way we give advice.

We are required to:

  • Give priority to our clients interests.

  • Exercise care, diligence, and skill.

  • Meet standards of competence, knowledge and skill set by the Code of Professional Conduct for financial advice services.

  • Meet standards of ethical behaviour , conduct and client care set by the Code of Professional Conduct for financial advice services.

Disputes and Complaints

If you are not satisfied with our financial advice service, please contact us as soon as possible by emailing info@hivefinancial.nz or by calling 0273467793. You can also write to us at: 75 Maru Terrace, Taupo.

We will consider your complaint and let you know how we intend to resolve it. Where possible, we will try to resolve you complaint immediately. The process you can expect us to follow upon receipt of complaint is as follows:

  • We will consider you complaint and let you know how we intend to resolve it. We may need to contact you to gather more information.

  • We will acknowledge your complaint within 2 working days and aim to resolve it within 10 working days. If we need more time, we will contact you to explain why and to agree a new timeframe.

  • We will investigate your complaint fairly and communicate our findings and any resolution in writing (email or letter).

If we cannot resolve your complaint to your satisfaction, you can refer the matter to our independent dispute resolution scheme, Insurance and Financial Services Ombudsman Scheme (IFSO). IFSO 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.
Freephone: 0800 888 202
Telephone: 04 499 7612
Email: info@ifso.nz
Post: PO Box 10-845, Wellington 6143, NZ

  • Specific Injury

  • Total and Permanent Disability

  • Key Person Cover

  • Business Life Insurance

  • Business Trauma Cover