Harness Invest Limited
Disclosure Statement

Before We Get Started

As a professional adviser, there is important information you need to know before we can provide you with the best advice we can offer. Please read on to understand the information on how we are licensed, plus:

• What services we can provide and what they may cost you.
• How we operate
• Complaints handling
• Conflicts of interest
• Our conduct
• Data privacy and collection

License Information

Harness Invest Limited (FSP1001475), trading as (Harness Financial), holds a Financial Advice Provider (FAP) licence issued by the Financial Markets Authority to provide financial advice.

• Harness Invest Limited
• Email: service@harnessfinancial.co.nz
• Ph: 0210 268 7955
• PO BOX 24514, Manners Street, Wellington, 6142
• Level 8, 95 Customhouse Quay, Wellington, 6011

Nature & Scope of Engagement

At Harness Invest Limited, we provide the following services:

• Investment/Retirement planning
• Investments
• KiwiSaver
• Short-term savings
• Financial projections
• Income/Expenses analysis
• Investment property analysis

All these elements above are included in a full Financial Plan.

The Providers we use include:

• The Consilium Investment Platform where we can access a broad range of funds, term deposits, ETFs, shares and bonds. This also includes Synergy, Evidential, and KiwiWrap.
• Booster
• Generate
• I-Select
• Milford
• SuperLife
• We may also get external research from Morningstar.

How We Operate

To ensure that our financial advisers prioritise the client’s interests above their own, we follow an internationally recognised professional advice process to ensure our recommendations are made based on the client’s goals and circumstances.

We want to understand what your vision is, what values you want to live by and then build recommendations that best support your goals.

Conduct

At Harness Invest Limited, anyone who gives financial advice on our behalf 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 behaviour, 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.

Remuneration

Remuneration (what do our services cost?):

At Harness Invest Limited, we endeavour to be as independent and transparent with our fees as we possibly can. The typical fees we charge for the preparation of a financial plan are detailed below. Full costs will be agreed before being incurred.

At Harness Invest Limited, we charge for running a portfolio a percentage of assets under advice. These are typically as below but may vary depending on the size and complexity of the portfolio: Full costs will be provided to you in a Statement of Advice before you agree to our services.

Commissions

For some Superannuation, Investment and KiwiSaver products, Harness Invest Limited may receive a commission. This will typically be offset against the fees we may charge. For KiwiSaver, there may be one-off fees or commissions paid to Harness Invest Limited. These will be disclosed in your statement of advice.

• Dieter Timmerman is an adviser and director working for Harness Invest Limited. His remuneration is based on the profitability of the company by way of drawings.
• Luke Hodgson is an adviser working for Harness Invest Limited as a contractor. His remuneration is based on a percentage of revenue created.

Conflicts of Interest

We take any perceived or real conflicts of interest very seriously and have a dedicated policy for dealing with such issues whereby we avoid, disclose and/or manage any conflicts so that our client’s interests are placed first and foremost.

We undergo annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme annually by a reputable compliance adviser.

From time to time, product providers may also reward us for the overall business we provide to them. They may give us tickets to sports events, hampers, or other incentives.

Complaints Handling & Dispute Resolution

If you are not satisfied with our financial advice service, you can make a complaint by emailing dieter@harnessfinancial.co.nz or by calling: 0210 268 7955.

You can also write to us at:

• Harness Invest Limited
• PO BOX 24514, Manners Street, Wellington, 6142

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 intend to resolve it. We may need to contact you to get further information about your complaint.
• We aim to resolve complaints within 10 working days of receiving them. If we can’t, we will contact you within that time to let you know we need more time to consider your 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 cannot agree on how to fix the issue, you can contact our external disputes resolution scheme, Insurance & Savings Ombudsman (IFSO).  IFSO provides a free and independent dispute resolution service that may help to resolve your complaint. To contact IFSO:

• Call: (04) 499 7612 or 0800 888 202
• Email: info@iombudsman.org.nz
• Write to: PO Box 10845, Wellington 6143
• Address: Level 11, Classic House, 15-17 Murphy St

Duties Information

At Harness Invest Limited our financial advisers have 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
• 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

Privacy/Data Collection

To give our clients the very best advice we need to collect personal information about their financial circumstances. In the digital age that we live in, we take our responsibilities under the Privacy Act 2020 very seriously. Some key points:

• We only collect information relevant to the nature and scope of the advice we are providing.
• The accuracy of this information to our advice is critical, this is where we need your help.

Once collected we will protect any client information:

• You can request any personal information or ask for it to be amended at any time
• We will only share information where it is necessary to do so in providing the agreed services provided. If this is not part of our normal business, we would only consider this with your express consent to do so. However, there are some third parties you may not be aware of that we may need to share your information with such as:
  • Financial Markets Authority (FMA) – the Regulator of financial services in New Zealand
  • External compliance agencies we may engage for quality assurance purposes.
• We have policies and procedures for dealing with any data breaches ASAP. Any information no longer needed will be destroyed

You can find out more by visiting our Privacy Policy at our website: Privacy Policy – Harness Financial

Ask Us – We Are Here To Help.

We welcome any questions or queries you have in relation to this important information but more importantly, we look forward to working with you.