Disclosure Statement
Fresh Insurance Ltd trading as “FutureFunds” (FSP1006026) holds a FAP licence: Class 2 issued by the Financial Markets Authority to provide financial advice.
Financial Advisors operating under Fresh Insurance Ltd FAP Licence (FSP1006026)
Kim Naomi Newton (FSP1002949)
Ph: 0274691889
Email: kim@futurefunds.co.nz
Qualification: NZ Certificate in Financial Services Level 5, Life, Disability, and Health Insurance.
Joshua Owen Newton (FSP1006784)
Ph: 021918712
Email: Josh@futurefunds.co.nz
Qualification: NZ Certificate in Financial Services Level 5, Investment.
Physical office address: 477 Te Atatu Road, Te Atatu Peninsula, Auckland 0610
Services Provided
Personal & Business Risk (Life, Income, Disability & Health Insurances)
FutureFunds provides personalised advice considering your individual circumstances to determine the personal risk products that best meet your personal goals and needs.
FutureFunds had chosen to work with the following companies:
- AIA
- NIB
- Fidelity Life
To ensure that advice remains accessible, FutureFunds does not charge an upfront fee for providing personal risk insurance advice or for implementing advice if you decide to proceed.
In place of an upfront fee, FutureFunds is paid a commission by the recommended insurance provider from the premium they charge you for your cover. This commission will range from 40% to 230% of the first year’s premium, depending on which insurance company and policies you take out cover with. FutureFunds will then receive a servicing commission of 3% to 20% of the annual premium for the Iife of the policy. These amounts will be confirmed when a recommendation is provided.
KiwiSaver & Retail Investment Services
FutureFunds provides advice on a range of KiwiSaver and Managed Fund providers. This involves discussing what level of financial risk you are comfortable with and recommending products that best match your attitude toward risk, investment philosophies, and the length of time until you plan on accessing your funds.
FutureFunds has chosen to work with the following companies:
- Kernel Wealth
- Pathfinder
- Milford
- Generate
- KiwiWrap
For KiwiSaver, depending on which provider you invest with, FutureFunds may be paid an upfront commission of up to $150 and/or trail commission of up to 0.50% of funds under management p.a.. Depending on the provider and fund, these commissions may be paid by the provider, out of the funds being invested, or a combination of both. These amounts will be confirmed when a recommendation is provided.
For investments outside of KiwiSaver, FutureFunds may charge a consultation fee, and/or a placement fee, and/or an ongoing monitoring fee. Charges will be clear before services are provided.
Wholesale Wealth Clients
FutureFunds provides private wealth investment services, which are only available to clients who qualify as wholesale under the Financial Markets Conduct Act 2013 (“FMCA”). If you are a wholesale client, this will be discussed and documented. There is a wide range of wholesale investments FutureFunds works with.
FutureFunds is not required under the FMCA to provide the same level of disclosures to wholesale clients, the advice does not need to consider clients’ needs, or ensure clients understand the financial advice.
However, FutureFunds has many duties under the FMCA that also apply to wholesale clients such as:
- Duty to give priority to clients’ interests
- Duty to exercise care, diligence, and skill
- Duty not to make false and misleading statements or omissions
FutureFunds is committed to building long term client relationships and is passionate about client outcomes.
We Work For You
As Financial Advisers, it is our duty to abide by the Code of Conduct for Financial Service Providers.
Although we are often paid by the providers for the services we provide, it is you that we work for. To ensure we put your interests ahead of my own, we follow a 6-step advice process when providing personalised financial advice, which is based on your individual goals and needs.
We provide all recommendations in writing so that you have the opportunity to ask any questions you might have before implementing any of our advice.
We take part in a quality assurance programme to review our advice process on an annual basis to ensure it is based on the needs of our clients.
Complaints Process
If you are dissatisfied with our service, you can make a complaint by:
Emailing: josh@futurefunds.co.nz
Calling: Josh Newton +64 21918712
Internal Complaints Process
We acknowledge receipt of your complaint and assess how we can resolve it.
We aim to resolve complaints within 10 working days. If more time is needed, we will inform you with an estimated resolution timeframe.
We will communicate our resolution to you via phone or email.
External Dispute Resolution
If we are unable to address your concerns, you can contact our disputes resolution scheme, at no cost to you:
Name: FDRS
Address: PO Box 2272 Wellington 6140
Telephone number: 0508 337 337
Email address: enquiries@fdrs.org.nz