How we ensure your interests are our priority.

There are a number of factors that can influence advice if they are not successfully mitigated. Conflicts can occur when an adviser or business have a greater vested interest in any particular aspect of that advice over another. In our industry this can be the difference in remuneration paid by providers, funds within a provider, quota, ownership of the business, other services the business offers, relationships with service or product providers.

At Stratus we try to manage any conflicts of interest as best we can.
1. We are regulated by The Financial Markets Authority to adhere to the Financial Markets Conduct Act and an Advice Code,
2. We have specialist advisers in all areas we offer advice,
3. We follow an advice process,
4. We receive at least 20 hours additional training per year,
5. We belong to the relevant professional bodies for our skill sets, which hold us to higher level of conduct, Financial Advice,
6. We are not subject to any quota from Dealer groups or product providers,
7. We are subject to quality assurance processes by dealer groups who ensure a third party endorsement in behaviour,
8. Advisers are on retainers and are paid a profit share if the business exceeds a minimum level of profit,
9. If clients request, they can have a relationship based on fees only,
10. Life, Disability and Health illustrations are calculated across the various companies for comparison (unless a client wants to increase an existing policy),
11. The Stratus companies are owned by trusts rather than the advisers themselves.

Defining our areas of advice.

Co-operative Insurance based products

Investment based products

Fees for advice paid directly to Stratus Financial Services Limited

Adviser Remuneration.

Our Advisers are contracted by their companies. These companies are paid a retainer, by Stratus, for advice services. The retainer is based on the number of days worked, times the daily rate. The rates are the same across specialist adviser roles. Their companies may also receive a profit share if Stratus reaches a threshold.

Advisers are expected to take 5 weeks of leave each year including an additional week for continuing professional development, this enables them to maintain and improve their skill, competence and qualifications. Advisers may receive subsidised professional training from financial providers.

Reliability Statement.

Wealthpoint, Stratus companies or our advisers and directors have NOT been disciplined by a professional or public body for their advice or adjudged bankrupt.

Duties Information.

Stratus Companies and anyone who give financial advice, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice (Code of Conduct). The Financial Markets Authority set out a code of Professional Conduct for Financial Advice services. The code requires the following;

Part 1 – Ethical Behaviour, Conduct, and Client Care
• Treat clients fairly
• Act with integrity
• Give financial advice that is suitable
• Ensure the client understands the financial advice, and
• Protect client information

Part 2 – Competence, Knowledge and Skill
• Have General Competence, Knowledge and Skill
• Have Particular Competence, Knowledge and Skill for designing an investment plan
• Have Particular Competence, Knowledge and Skill for product advice
• Keep Competence, Knowledge and Skill up to date.

These are the Code of Conduct Standards, more information is available by contacting us or by visiting the Financial Markets Authority website at https://www.fma.govt.nz

Privacy Information.

This statement relates to the personal information that you provide now and in the future. The personal information collected will be held by Stratus Financial Services Limited, (SFSL), Stratus General Insurance Limited, (SGIL) and/or Wealthpoint Limited (WPL) and/or to identify service and products that may be suitable for your needs. These organisations can access this information to assist you to provide financial services to you, to administer and service any products you have, to identify other services or product available that may be suitable to your needs, to provide quality control and to manage complaints.

We may disclose your personal information to other relevant product providers within these relationships to enable them to assist us to provide financial services to you. You have the right to ask to see and request correction of any personal information these organisations hold about you. We hold information about you securely. If you transfer to another business or Stratus sells their relationship to another business, we will transfer a copy of that information to the new business or Adviser, if you or they request it.

How we handle Complaints.

If you express dissatisfaction to us we will treat it as a complaint.
If it is about another provider, such as an insurance provider, we will pass it on for them to work through their complaints process. Each provider will have a slightly different process, we can copy you into our notification if you desire.
If the complaint is about Stratus Financial Services Limited or one of its advisers then you can phone (04 499 6500) or email [email protected] and tell the adviser, tell another adviser, tell our staff, ask for the directors or a complaints officer. You can also write to us at Stratus Financial Services Limited, PO Box 10-337, Wellington, 6140, New Zealand. Stratus has allocated a director from the associated company to act as complaints officer for the other company. This way it is unlikely they were involved in giving the advice.
We are also obliged to inform Wealthpoint Limited (WPL) if the services are part of their offering. The complaints process includes;
Letting you know how we intend to resolve the complaint, as part of this we may ask for more information about the complaint.
We aim to resolve a complaint within 10 working days of receiving it. If that is not possible we will update you within this time frame by either phone or email.
If your complaint is not resolved with 8 weeks, or you are not satisfied with our proposal, you can contact Insurance & Financial Services Ombudsman (IFSO)
IFSO provides a free, independent dispute resolution service that may help investigate or resolve your complaint, if the complaint has not been resolved to your satisfaction. You can contact IFSO by emailing them via https://www.ifso.nz/make-a-complaint or by calling 0800 888 202, you can also write to them at Insurance & Financial Services, Ombudsman Scheme, PO Box 10-845, Wellington, 6140, New Zealand.
If the complaint is about Stratus General Insurance Limited or one of its advisers then you can phone (04 499 6500) or email [email protected] and tell the adviser, tell another adviser, tell our staff, ask for the directors or a complaints officer. You can also write to us at Stratus General Insurance Limited, PO Box 10-337, Wellington, 6140, New Zealand. Stratus has allocated a director from the associated company to act as complaints officer for the other company. This way it is unlikely they were involved in giving the advice.