This site has been designed and is maintained by Costello Financial Services. Details about the company can be seen at: www.costello.co.nz Name: John Hyde FSP94701 Costello Financial Services FSP64521
This site has been designed and is maintained by Costello Financial Services. Details about the company can be seen at: www.costello.co.nz
John Hyde FSP94701
Costello Financial Services FSP64521
In accordance with the provisions of the Securities Markets (Investment Advisers and Brokers) Regulations 2007 this Disclosure Statement provides you with information and answers to questions about me. It provides details about:
This document was prepared on 29 Feb 2008. (Updated 16 Feb 2011)
I have been an investment adviser for 13 years and give advice on savings and investment products provided by selected Bank, Insurance and Investment companies.
I also provide relevant advice on Insurance and Mortgage products.
Relevant qualifications include:
Current Practitioner Member - Institute of Financial Advisers since 1995.
Member of Sovnet since 1996.
Product accreditation courses since 1996.
Economics and Financial papers at Graduate and Post Graduate level
I keep my qualifications up-to-date by regularly:
Attending Product and Company updates.
Attending Investment Seminars and relevant Conferences
I maintain a record of the above.
HOW WE OPERATE
When we give advice we follow the internationally recognised six-step process:
This can require a series of communications or meetings with a prospective client before our advice is finalised. We also maintain an ongoing relationship with clients, regularly reviewing progress and working with them over time to ensure their goals can be met.
The services we provide will depend on your needs. They may include any or all of those detailed in this Disclosure Statement.
Our advice will take account of your personal objectives, financial situation and needs. It will be clear and concise, with enough detail for you to make an informed decision about whether to act on it.
I am a member of the Institute of Financial Advisers and, as a condition of my membership I adhere to the IFA Code of Ethics and IFA Practice Standards in all facets of my practice.
PROFESSIONAL INDEMNITY INSURANCE
In compliance with the Institute of Financial Advisers Code of Ethics, I have professional indemnity insurance which covers all my areas of practice as listed above.
This insurance provides protection for clients for:
The minimum level of cover is in compliance with Institute of Financial Adviser's Membership By-laws.
The underwriter is Lumley General Insurance.
As with all insurance, this cover has limitations and is subject to certain exclusions and terms and conditions.
In the first instance you can direct any complaints to the product supplier company involved, as each of them has an internal complaints handling process.
Any customer who has a complaint should also contact us. We will immediately investigate and, where justified, make our best endeavors to correct.
Should the customer still seek a review, then the complaint should be addressed to the:
DISCLOSURE OF CERTAIN CRIMINAL CONVICTIONS
No principal officer of Costello Financial Services Ltd has, within the last five years, been:
Costello Financial Services Ltd has not, within the last forty years, been placed in statutory management or receivership.
The fees you will have to pay me and Costello Financial Services Ltd are set out in the schedule below.
OTHER INTERESTS AND RELATIONSHIPS
SovNet is an association of like minded professional financial advisers who have chosen to form a business relationship with Sovereign, a market leading insurance and investment services provider. The relationship is in respect to risk and contractual savings business.
My membership of SovNet provides me with advantages such as advance product training, professional development, participation in peer group forums and industry information. These advantages allow me to better serve my clients and their unique needs.
Being a member of SovNet obliges me to place the majority of my customers risk and contractual savings business with Sovereign. However, it is not an exclusive arrangement and I am entitled to place a significant portion of my business with any provider of my choosing.
I and other Costello Financial Services Ltd associates also place business with the providers listed below:
OnePath Investments - Managed Funds and KiwiSaver
Fidelity Life - Savings, Insurance Products and KiwiSaver
BT Funds - Managed Funds
ASB Bank GI - KiwiSaver
AIG New Zealand - Insurance Products
Tower - Insurance Products
AON - Fire and General Insurance Products
The nature and extent of our relationship with each of these organisations is as an appointed Adviser for their Investment and other financial products as described above.
I am associated with the following persons: Kevin Orrell, and Terry Kim.
The nature and extent of my relationship with these persons is that of associates. My associate(s) also have relationships with the above list of organisations.
Neither I nor an associate has any other financial or other relationship with any other person that would be reasonably likely to influence me in giving advice, except as described above.
AREAS OF ADVICE
I provide advice in the following subject areas:
Cash/Debt Management - relevant to mortgage planning
Risk Management - relevant to Personal or Business Insurance
Investment Advice - relevant to savings, investments and KiwiSaver
Mortgage Advice - relevant to Home or Commercial loans
I only give advice in the particular subject areas set out above.
Products - Providers
Savings and Investments - OnePath, Fidelity Life, and Sovereign
KiwiSaver - OnePath, Fidelity Life, and Sovereign
Life Insurance - AIA, Fidelity Life, Tower and Sovereign
Trauma Insurance - AIA, Fidelity Life, Tower and Sovereign
Income Protection - AIA, Fidelity Life, Tower and Sovereign
Medical Insurance - AIA, Tower and Sovereign
Fire and General Insurance - AON (Vero), Inbroke (QBE and Lumley)
Mortgages - Sovereign, ASB Bank, and Strata Finance
FEE & REMUNERATION SCHEDULE
I do not charge you a fee for the advice I provide.
I, my associates and/or Costello Financial Services Ltd will or may receive remuneration from the following sources:
Sale of Insurance, Savings or Mortgage Products may also be used by the Providers to calculate other possible rewards and incentives.
Maximum Adviser commissions for Sovereign Investment products and services that are open to new business are set out below.
Up to $50 per plan completed.
Select Wealth Management
Other Investment products may be offered and fees will be disclosed per event.
Each Costello Financial Services adviser will set fees based on the above, or part thereof , based on time involved, and complexity of each product and/or service provided. All advisers will disclose actual entry fees and ongoing trails for each product offered prior to completing applications.
© 2001 - Costello Financial Services
Unit 2D/129 Onewa Road P O Box 34778 Birkenhead, Auckland, Ph: +64 9 480-8308