Important Info
What If Planning Ltd, (FSP648749), trading as “Moneta”, holds a license issued by the Financial Markets Authority to provide financial advice.
Moneta and our financial advisers provide advice to our clients about their investments, personal and business insurance.
We provide advice and service around the following;
Insurance - Life, Trauma, Income, and Health Insurance
Investment - KiwiSaver, Managed Funds, Fixed Return Investments, and Retirement and Financial Independence Planning
We only provide financial advice about products from certain providers:
For life, trauma, and income insurances, we work with seven companies – AIA, Asteron Life, CHUBB, Fidelity Life, Partners Life, Pinnacle Life and Resolution Life.
For health insurance, we work with five companies – Accuro, AIA, nib, Partners Life, and Southern Cross.
For KiwiSaver and investment products, we use ten companies – AIA, ANZ Wealth, Asteron Life, Booster, Fidelity Life, Generate, MCF, Milford, NZ Funds, Select Wealth, Summer, and Synergy (AKA Consilium).
We charge a fee for investment advice.
This fee will be calculated on the following basis:
Investment Plan - $1,500
(An additional $200 per hour if required, but this will be discussed beforehand. No surprises).
The implementation of your plan is at our cost.
We are paid a finder's fee of between $50 and $100 for a new KiwiSaver application.
We are paid to review and manage your plan by the investment companies at a rate of between 0.5% and 1% of the total money you have invested. This is included in your total fees taken by the provider.
We are also paid to review and manage your KiwiSaver by the KiwiSaver provider at a rate of between 0% and 0.5% of the total money you have invested. This is also included in your total fees taken by the provider.
All fees exclude GST and are payable by the 20th of the month after an invoice is issued.
We may charge a fee for the financial advice provided where an insurance policy is cancelled within two years of inception, or to change to another provider/adviser. This fee will be based on covering our costs/expenses.
Conflicts of Interest and Incentives
For insurances, we receive commissions from the insurance companies.
If you decide to take out insurance, the insurer will pay a commission to Moneta based on the amount of the premium. If we refer you to another professional to provide a service we cannot, we may receive a referral fee.
From time to time, product providers may also reward us for the overall business we provide to them. They may give us gifts or other incentives.
To ensure that our financial advisers prioritise the clients’ interests above their own, we follow an advice process that ensures our recommendations are made on the basis of the clients’ goals and circumstances.
All our financial advisers undergo annual training about how to manage conflicts of interest.
We undertake a compliance audit, and a review of our compliance programme regularly by a reputable compliance adviser.
Duties
Moneta and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.
As per the Act 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.
Complaints
Visit our complaint information page for more details.
Privacy
Moneta is committed to protecting your privacy. The following outlines how we collect, store, use and share your personal information.
By submitting your details on this website, you consent to the use of your personal information in accordance with this privacy statement.
What information do we collect?
We may collect personal information about you, either directly from you or from other parties, and we may generate information about you when we carry out our business.
The types of personal information we collect about you may include your:
• Contact information: your name, phone number, email address, postal address, physical address
• Documents that verify your identity and other personal details, such as your passport or driver’s licence number
• Other information regarding your enquiry, such as;
- Details relating to your use of any product and/or service offered by us.
If you engage us to provide services to you, we may collect personal information about your financial situation, health information or goals in order to recommend insurance and investment products that we can advise on.
Indirect Collection of Personal Information
Sometimes we collect personal information about people from third parties rather than directly from them. When we do that, we take steps to make sure the person is aware of the collection, the reason for it, who the information may be shared with, who we are, and how they can ask for access to or correction of their information.
What do we do with it?
We collect and use your personal information to provide the information and services that you request from us, and to provide you with information about other services we consider appropriate.
When necessary, we may use your information to:
• Comply with our legal and regulatory obligations (including Anti Money Laundering/Counter Financing of Terrorism compliance and audit and reporting requirements).
Who do we share it with?
Besides our staff, we may share this information with third parties who enable us to provide you with our services. These include:
• product providers and other prospective insurers or investment providers, third parties or other intermediaries in relation to your investment or insurance requirements, and any person with whom an insurer or investment provider proposes to enter into contractual arrangements.
• our referral partners who can help you with other services;
• contractors or service providers;
• investment providers, insurers and other providers of Products that you choose to apply for;
• investors, or any entity that has an interest in our business or any entity to whom we consider assigning or transferring any of our rights or obligations or selling all or part of our business;
• anyone with whom we are legally required or authorised to share your information with, including regulators and government agencies;
• our external dispute resolution service;
• your solicitor;
• your accountant;
• any outsourced service provider who assists in the services we are required to carry out, such as auditors and external compliance reviewers, to ensure we are providing services to you that are in your best interests, and in accordance with current regulations;
• your employer and referees, as well as credit reporting and identity verification agencies; and
• any other person or entity authorised by you
We will only share your personal information with third parties where it is necessary to help us do what we collected your information for, where it is required by law or where you give us authority to.
We require these third parties to adhere to our strict confidentiality requirements for handling personal information, and we seek to ensure that they comply with the Privacy Act 2020.
Where do we store it?
We use third-party service providers to store and process most of the information we collect. We use;
• Trail CRM service
• Microsoft 365 with cloud servers located Worldwide;
We also use third-party systems to gather and collate your information; these systems temporarily store information on What If Planning Ltd devices. We use apps and programs such as, but not limited to, Calendly, ZOOM, and Small PDF.
We ensure that our cloud-based service providers are subject to appropriate security and information handling arrangements and that the information stored or processed by them remains subject to confidentiality obligations.
What are your rights?
You don’t have to provide information to us. If you choose not to provide the necessary personal information when requested, we may be unable to provide certain information or services to you.
You have the right to ask for a copy of any personal information we hold about you, and to ask for it to be corrected if you think it is wrong. If you have any questions about this privacy statement or you’d like to ask for a copy of the information we hold on you, or to have it corrected, please contact your adviser.