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Legal Disclosure

Licensing information

Diamond Property & Wealth, FSP1003574, is a Financial Advice Provider (FAP) licensed and regulated by the Financial Markets Authority to provide financial advice.

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Nature and scope of the advice

Diamond Property & Wealth provides financial advice to help our clients invest in brand new residential property, KiwiSaver Funds and Investment Funds. We take the clients’ personal and financial circumstances as well as their goals into account and then carry out thorough due diligence to determine what investment options would work best for our clients.

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In addition, we provide financial coaching and consulting that involves budgeting, risk minimisation, debt reduction and wealth creation.

We do not provide any financial advice on other financial products such as mortgage and insurance but we may recommend other professionals who do specialise in those areas.

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Fees or expenses

Diamond Property & Wealth will charge a fee for the financial advice that is provided to you. The fee charged will depend on the nature of the financial advice and service that we provide.

  • Flat commitment fee of $750 plus GST for the preparation of the Property Investment Strategy

  • Financial Coaching Fee from $1,500 plus GST

  • Property Consultancy Fee $7,500 plus GST

  • Sometimes the work will be carried out on the time basis, that cost is $250 plus GST per hour

  • An ongoing financial advice fee for the provision of ongoing financial advice services

The exact fees we will charge will be confirmed at the time the scope is being established.

All our fees are payable within 7-14 days of the date you receive the Invoice.

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Conflicts of interest and commissions

Our licensed Financial Advisors are employees of Diamond Property & Wealth and receive salary as their remuneration.

Diamond Property Group is paid in the form of referral fee from property developers through which we place business. The amount of the fees we receive depends on the property and the relationship with each developer. Typically, we receive between $15,000 and $27,000 when the client declares the sale and purchase agreement on the property unconditional.

To ensure we prioritise our clients’ interests:

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• 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.

• We recommend the property options based on its valid merits that are supported by facts and research, not the amount of the referral fee that Diamond Property & Wealth receives.

• Our clients are never under an obligation to purchase any of the properties we recommend

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Complaints handling and dispute resolution

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

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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 2 business days. We may contact you to get further information about your complaint.

• We aim to resolve complaints within 5 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. Financial Dispute Resolution Service 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 Financial Dispute Resolution Service

Call: 0508 337 337

File a complaint: Make a complaint » Financial Dispute Resolution Service (fdrs.org.nz)

Write to: Level 4, 142 Lambton Quay, Wellington 6011

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Duties information

We 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.

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