Whai Rawa’s Financial Advice Provider Disclosure
Licensing Information
Whai Rawa Fund Limited (FSP34563, trading as Whai Rawa, referred to as we or us in this statement), holds a licence issued by the Financial Markets Authority to provide financial advice.
Nature and Scope of the Advice:
We want our members to make properly informed decisions when investing in or withdrawing from or changing funds within Whai Rawa. However, we do not employ qualified advisers within our team to provide financial advice. Instead we offer a risk profile tool to help you decide which fund might be best for you, and produce information and reports about Whai Rawa and savings in general that are designed to help you make the right decision for you. Whai Rawa representatives may speak about Whai Rawa at hui from time to time, when they will deliver Whai Rawa’s messages to those present but without providing any financial advice in their own right.
Importantly, neither Whai Rawa nor any of our team, including Te Rūnanga o Ngāi Tahu personnel, provide any personalised financial advice for our members. Even our risk profile tool will only provide you with limited guidance as to which fund option might be most suitable for you based on which broad category of member you appear to fall within, with that guidance reliant on the information you enter into the tool. The scope of our financial advice is limited to Whai Rawa and the three socially responsible funds that are offered within it:
- Tōtara-Conservative Fund
- Mataī-Balanced Fund
- Rātā-Growth Fund
We recommend that if you require financial advice to help you make investment decisions about Whai Rawa, you speak with a properly qualified financial adviser or visit the Financial Markets Authority website (found here) to view a list of registered financial advisers who may be able to assist you.
Fees or Expenses
Whai Rawa does not charge fees, expenses or any other amount for any financial advice we provide, and we do not charge a management fee within Whai Rawa. Instead, Te Rūnanga o Ngāi Tahu has currently agreed to pay all our costs and expenses in acting as Manager of Whai Rawa.
Conflicts of Interest and Incentives
A conflict of interest means any interest of Whai Rawa which a member may think is reasonably likely to influence Whai Rawa’s advice. None of Te Rūnanga o Ngāi Tahu’s administrative staff involved in Whai Rawa receive any form of incentive based on how Whai Rawa performs or the number of members they help to sign up, meaning you can be confident that no staff member you deal with has any personal financial interest in your investment decisions.
Given the limited nature of the financial advice service we provide, and the fact that we do not charge any fee within Whai Rawa and invest through a specialist master trust that is managed independently of Te Rūnanga o Ngāi Tahu, we do not have any conflicts of interest in providing members with financial advice or information in the usual course of things.
Nevertheless, conflicts of interest can arise for our team in the course of administering Whai Rawa. Our processes to manage any conflict that does arise depend on the circumstances, but options may include:
- a staff member may be required to step aside from working on a transaction or participating in resolving an issue;
- We may not be able to undertake a particular transaction; or
- a director or staff member may have to withdraw from discussing an issue at a meeting (particularly in the case of a conflicted Board member).
More information on how Whai Rawa manages conflicts of interests can be found here.
Complaints Handling and Dispute Resolution
If you have a complaint you should first contact the Complaints Officer of Whai Rawa Fund Limited.
Our Complaints Officer can be contacted at:
Whai Rawa Fund Limited
Te Whare o Te Waipounamu
15 Show Place, PO Box 13046 Addington
Christchurch 8141
Telephone 0800 942 472
Email [email protected]
We will endeavour to deal with all complaints within 10 working days of receipt. If there is particular urgency in any situation (e.g., Hardship Withdrawal) that may mean the request requires more urgency.
However a complaint is received (phone or email), it should be acknowledged by the Complaints Officer in the same manner.
The Complaints Officer will communicate with you via phone or email (as preferred by the member) to discuss the resolution to your complaint within 10 working days of receipt. If we can’t resolve your complaint or it is not to your satisfaction, you can contact the Business Manager, Trustees Executors Limited (“Supervisor” of the Scheme). Trustees Executors Limited can be contacted at:
Trustees Executors Limited
Level 7, 51 Shortland Street
Auckland 1140
Telephone (09) 308 7100
If the Supervisor is unable to resolve your complaint, you may refer your complaint to Financial Services Complaints Ltd (FSCL) – A Financial Ombudsman Service or if you are an Australian resident, instead of complaining to FSCL, you may refer your complaint to The Australian Financial Complaints Authority (AFCA). See below for details.
Both FSCL and AFCA are our chosen independent dispute resolution service providers available to help you. Neither FSCL or AFCA will charge you a fee to investigate or resolve your complaint.
FSCL can be contacted at:
Financial Services Complaints Ltd (FSCL) – A Financial Ombudsman Service
PO Box 5967, Wellington 6140
Telephone 0800 347 257
Fax (04) 472 3728
Email [email protected]
Online https://www.fscl.org.nz/
FSCL has been approved by the Minister of Consumer Affairs to provide independent external ombudsman and dispute resolution services under the Financial Service Providers (Registration and Dispute Resolution) Act 2008.
AFCA can be contacted at:
Australian Financial Complaints Authority
GPO Box 3, Melbourne VIC 3001
Telephone 1800 931 678
Email [email protected]
Online www.afca.org.au
Please note time limits may apply to complaints to FSCL or AFCA and so we recommend the member act promptly or otherwise consult the FSCL and AFCA websites to find out if or when the time limit relevant to their circumstances expires.
Duties Information
Whai Rawa has duties under the Financial Markets Conduct Act 2013 relating to the way we give advice. When giving advice, whether through our digital advice tool or otherwise, 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 interests;
- Exercise care, diligence, and skill in providing you with advice;
- Meet applicable 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); and
- 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 fairly, and give you suitable advice).
This is only a summary of the duties that Whai Rawa has. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz.
Contact Details
Whai Rawa Fund Limited
Contact us on 0800 WHAI RAWA (0800 942 472) or 03 366 4344 for all enquiries (between 8.30 am and 5.00 pm Monday to Friday, except on public holidays).
Calling from overseas +64 3 366 4344
Fax us +64 3 341 6792
Email us [email protected]
Write to us Whai Rawa, P O Box 13-046, Christchurch 8141
Visit us Te Whare o Te Waipounamu, 15 Show Place, Addington, Christchurch