Licensing Information

John Richard Tonkin (FSP141144, trading as Tonkin Financial Services) is a Financial Advice Provider (FAP) licensed and regulated by the Financial Markets Authority to provide financial advice.

Nature and scope of our advice

We only provide financial advice about insurance and investment products. We also provide an investment planning service.

Insurance products

Life Insurance
Medical Insurance
Income Protection Insurance
Trauma Insurance
Total & Permanent Disability Insurance

Investment products

KiwiSaver
Employment Superannuation
Managed Investment Funds

We only provide financial advice about products from certain providers:

Insurance providers

nib
AIA
Resolution Life

Investment providers

ANZ
Milford
Generate
ANZ OneAnswer
AMP

Tonkin Financial Services recommends the use of the ANZ OneAnswer wrap platform service for holding client investments.

Fees or expenses

Tonkin Financial Services may charge a fee for the financial advice we provide. The fee charged will depend on the nature of the financial advice and service that we provide.

For investments:

Financial planning fee: We may charge a fee for the development of a financial plan tailored to your needs. This is usually charged on an hourly basis.
Ongoing advice/portfolio monitoring fees: We may charge a fee to monitor and review your investment portfolio. The exact amount will depend on the value of your investment portfolio.

For insurance

We do not charge any fees for the financial advice we provide in relation to insurance.

If fees apply for other services, the exact amount will be confirmed at the time the advice is provided. All fees are payable within 14 days of the invoice date.

Custodian fees

Investments held in the ANZ OneAnswer Wrap Platform Service are subject to custodian fees. These fees are based on the value of your portfolio held in the platform. We will provide further details about custodian fees when we provide you with advice. This will be disclosed to you when the advice is provided.

Insurance premiums

When you take out insurance, you will need to pay premiums directly to the insurance provider. The amount will depend on factors such as the type and extent of cover, the term of cover, and the excess you choose.

Conflicts of interest and commissions

Commissions we are eligible to receive:

Insurance

If you decide to implement our advice and take out insurance with the providers we work with, Tonkin Financial Services will receive a commission from the insurer. The amount of the commission we receive depends on a number of factors such as the insurer, the type of insurance, and the amount of your premium.

Investments

Tonkin Financial Services may receive a servicing fee from some the investment product providers we work with. The amount of this fee depends on the amount of funds you are investing.

We will provide you more specific details of these commissions and fees once we have talked to you and better understand your needs.

Relationship with AMP

Tonkin Financial Services is eligible to receive a quarterly bonus from AMP. The amount of the bonus we receive depends on the growth of the funds under management we have with AMP over a 12 month period (for investments) and the increase of premiums in force (for insurance).

To ensure we prioritise our clients’ interests :

We follow an advice process that ensures our recommendations are made appropriately, based on clients’ goals and circumstances.
We undergo annual training about how to manage conflicts of interest.
We maintain registers of conflicts of interests and the gifts and incentives we receive. These registers are monitored regularly, and additional training is provided as required.
We undertake an annual independent Compliance Assurance Review by Strategi.

Complaints handling and dispute resolution

If you are not satisfied with our service or financial advice, please tell us as soon as possible.

Call: 09 308 241

Email: john@tonkinfinancial.co.nz

Write to: 107A Brighton Road, Parnell, Auckland, New Zealand 1052

When we receive a complaint:

We will consider your complaint and let you know how we intend to resolve it. Where possible, we try to resolve your complaint immediately.
If we are unable to resolve your complaint immediately, we will acknowledge your complaint within 5 business days. We may contact you to get further information about your complaint.
We aim to resolve complaints within five working days of receiving them. If we need more time to investigate your complaint, we will let you know when you can expect to receive a response to your complaint.
We will contact you by phone, email or letter 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, or if you decide not to use our internal complaints process, you can contact our external disputes resolution scheme, Financial Dispute Resolution Service (FDRS). FDRS provides a free and independent dispute resolution service that may help to resolve your complaint if we haven’t been able to do so to your satisfaction. To contact FDRS:

Call: 0504 337 337

Email: enquiries@fdrs.org.nz

Write to: PO Box 2272, Wellington, New Zealand, 6140

Duties information

Tonkin Financial Financial Services and our 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.