Important Information

Publicly available information – Financial Advice Provider

Licensing information

AdAstra 2020 Limited, FSP number 763432, holds a licence issued by the Financial Markets Authority to provide financial advice.

Contact Details

AdAstra 2020 Limited trading as AdAstra Financial Services is the Financial Advice Provider.

You can contact us at:

Phone: 06 758 6937

Email:  contact@AdAstra.co.nz

Address: 67 Vivian Street, New Plymouth 4310

Nature and scope of advice

AdAstra 2020 Limited advisers provide advice about:

  • Personal insurance (risk), including health insurance
  • Investments
  • Retirement / Financial Planning
  • KiwiSaver

We provide advice in relation to the following products:

  • Life Insurance, including Trauma and Total Permanent Disability Cover
  • Income Protection
  • Health Insurance
  • KiwiSaver
  • Managed Fund Investments
  • Direct investments into unitised funds (both public & private)

We provide advice in relation to products provided by the following companies:

Insurance

  • AIA NZ Limited
  • Asteron Life
  • Chubb Life
  • Fidelity Life
  • Nib NZ Limited
  • Partners Life
  • Resolution Life
  • Southern Cross
  • Unimed (Accuro)

Investment and KiwiSaver

  • Amova GoalsGetter
  • AMP Wealth
  • ANZ Investments
  • Booster
  • Fisher Funds
  • Generate
  • Ignite Investment Portfolio Service
  • Koura Wealth
  • Lifetime Retirement and Asset Management
  • Mapua Wealth
  • Milford Investments
  • NZ Funds
  • PPS
  • Synergy / Consilium
  • Any other listed unit or security via the FNZ platform

Fees and expenses

Planning fee

We charge a fee based on the time and labour required to execute a task (by both adviser and/or support staff), the skills/ knowledge, any technology requirements and urgency of a task. Planning fees are specific to client requirements but typically range from $300 – $1,800 + GST.

Planning fees are payable within 7 days of your adviser providing you with your statement of advice, or other document as agreed in your scope of service. An invoice will be provided at this time with payment details.

Service fee

AdAstra 2020 Limited may waive planning fees for some work where there is a commission payable to the company should you proceed with the solution recommended. However, AdAstra reserves the right to raise an invoice for an equivalent fee if the client cancels or reduces the scope of the suggested solution within two years of inception.

Whether a fee will be charged, and the amount of the fee will be advised when the advice is provided, typically based on the hourly rate of advising on and implementing the particular solution. This fee will be payable by the client by the 20th of the month after the policy is cancelled.

Conflicts of interest

AdAstra 2020 Limited and our financial advisers may receive commissions from the product providers whose solutions we recommend (such as insurers, investment, and KiwiSaver providers). If you choose to proceed with insurance, investment, or KiwiSaver advice, the provider will pay a commission to AdAstra 2020 Limited. For insurance, this commission is calculated based on the premium for your cover; for investments, it is based on the funds under management. Full details of any commission will be disclosed to you when we provide advice.

From time to time, product providers may also reward us for the overall business we provide to them. They may give us tickets to sports events, hampers, or other incentives.

To ensure that our financial advisers prioritise the client’s interests above their own and to manage the potential conflicts of interest as disclosed above, all AdAstra 2020 Limited advisers follow an advice process that ensures personalised recommendations are made on the basis of the client’s goals and circumstances, as advised by the client. Adastra 2020 Limited financial advisers complete regular training, including how to manage conflicts of interest. Each adviser has a regular compliance review of their advice process and our compliance programme is reviewed annually by our external compliance adviser.

Any Conflict of Interest that specifically relates to advice or recommendation given to you, will be outlined in more detail when that advice is given.

Disputes and complaints

If you are not satisfied with our financial advice service you can make a complaint by emailing contact@AdAstra.co.nz, or by calling 06 758 6937. You can also write to us at: PO Box 8042, New Plymouth, 4342.  When we receive a complaint, we will consider it using our internal complaints process:

  • We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.
  • We aim to resolve complaints within 10 working days of receiving them. If we can’t, we will contact you within that time to let you know we need more time to consider your complaint.
  • We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so.

If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact the Insurance and Financial Services Ombudsman Scheme Inc. The Insurance and Financial Services Ombudsman Scheme Inc provides a free, independent dispute resolution service that may help investigate or resolve your complaint, if we haven’t been able to resolve your complaint to your satisfaction. You can contact the Insurance and Financial Services Ombudsman Scheme Inc by:

Phone: 0800 888 202

Email:  info@ifso.nz

Post: PO Box 10-845, Wellington 6143

Duties information

AdAstra 2020 Limited, and anyone who gives financial advice on our behalf, has 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 by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests (431K)
  • Exercise care, diligence, and skill in providing you with advice (431L)
  • 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) (431I

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.