ImPower Disclosure

IMPORTANT INFORMATION ABOUT ImPower Limited

ABOUT US

ImPower was founded in March 2016 by Tony Walker. Tony had a desire to work with clients who appreciated independent, unbiased financial advice.

In June 2020, Jessica Jamieson joined ImPower. Jessica was keen to adopt the ImPower philosophy and her skills and experience provide a significant boost to ImPower’s resources.

ImPower is different from many other financial advisory practices in that we are not affiliated with any financial product provider or financial institution.  We are therefore truly independent.  We work for our clients only on a fee basis.  We provide clients with unbiased personalised financial advice that takes into account what’s important to them, what their needs are and their goals and objectives.  Our aim is to empower our clients to achieve financial success.

 

 BUSINESS INFORMATION

Business information

ImPower is a limited liability company which can be found on the Companies Office register with a NZBN of 9429042191353.

ImPower is registered on the Financial Service Providers Register with an FSP number FSP488806. ImPower is registered to provide “wholesale and/or generic financial adviser services”.

ImPower can be contacted via the ImPower website, www.impower.nz.

ImPower directors and financial wellbeing specialists, Tony Walker and Jessica Jamieson, can be contacted via the website or via the details provided under their personal disclosure.

 

Licence information (licences status and conditions)

ImPower holds a transitional Financial Advice Provider licence. This licence is subject to the standard conditions as laid down by the Financial Markets Authority and as prescribed in the Financial Markets Conduct Act.

 

NATURE AND SCOPE OF FINANCIAL ADVICE SERVICE

ImPower provides fee only financial wellbeing advice. The three principles which underpin this advice are:

  • Independent
  • Unbiased
  • No products

ImPower is able to provide advice on a wide range of personal financial topics. Further, ImPower works closely with other financial advice professionals who can contribute their specialist input if required.

 

HOW WE OPERATE

ImPower follows a standard process when working with clients. Ultimately, the objective is to provide the outcome(s) which the client has defined. The key steps of the process are outlined below:

 

1

Initial Discussion

·     Discuss and understand client requirements

·     ‘Scope of Engagement’ and cost discussed

·     Client receives the ‘About ImPower’ document that includes ImPower’s terms & conditions

2

Contracting ImPower

·     Client agrees in writing to the ‘Scope of Engagement’ and cost

·     Engagement with ImPower starts

·     Financial Wellbeing Advice Workbook document is sent for client to complete & return

·     Meeting is arranged (either face to face or by video link)

3

Gather Information & Client Consultation

·     Client returns the completed ‘Financial Wellbeing Advice Workbook’

·     Meeting is held to discuss client information. This will focus on achieving the key outcomes which the client has defined in the Workbook

·     Adviser analyses information and designs financial strategy for areas defined in ‘Scope of Engagement’

4

Advice Documented & Strategy Discussed

·     Advice is documented & sent to client electronically and/or in hardcopy.  The document also highlights areas outside the scope that requires the client’s attention

·     Further discussion about ImPower’s suggested strategy

·     Strategy agreed

5

Strategy Implemented

·     Implementation of strategy (advice) begins

·     ImPower assistance may be provided as agreed and defined

·     Where specialist product assistance is required, ImPower can introduce appropriate specialists who have been carefully selected.

6

Monitoring & Review

·     No ongoing monitoring or review service for one-off engagements

·     If client decides to retain ImPower’s services on an ongoing basis, the service is a blend of client-initiated discussions and regular reviews carried out by ImPower.

Notes:

  • Client meeting/discussions can be by phone, video conference or face-to-face
  • Documented advice can be email, printed documents or hand-written documents
  • The ‘Scope of Engagement’ is often called ‘Scope of Service’. It details what will be done in this engagement and, importantly, what will not be done.

 

DUTIES INFORMATION

ImPower and its advisers are bound by the duties set down in the FMC Act. In summary these are:

  1. To meet the standards of competence, knowledge and skill set out in the code of conduct
  2. To give priority to the client’s interests
  3. To exercise care, diligence and skill
  4. To meet the standards of ethical behaviour, conduct and client care set out in the code of conduct.

 

FEES

  • ImPower charges a fee for the financial advice service which its financial wellbeing specialists provide. The nature of this remuneration will depend on the scope and way the financial advice is provided. The scope of engagement and total fee will be clearly explained and agreed in writing by both you and your consultant before any work commences.
  • Fees are charged through invoice and paid direct to ImPower Ltd.
  • ImPower does not have any relationship (financial or otherwise) with any other person or organisation that would be reasonably likely to influence the advice which is given.

ImPower only receives remuneration from the invoices we send to clients once a specified engagement has been completed.

ImPower receives no remuneration from financial institutions or other financial advisers.

A schedule of fees is below. Please note that this is not exhaustive, and will be tailored to the situation.

 

Our Fees

Service/Advice

Key Features

Fee

Ad Hoc Advice

·       specific questions answered

·       advice limited to areas identified by the client

·       advice documented

$225 per hour + GST

Mini Plan

·       broader approach but focusses on areas of importance or need

·       identifies areas that require more attention

·       usually one meeting and some research

·       advice documented

From $1150 + GST

Comprehensive Financial Plan

·       comprehensive approach to your financial situation

·       multiple meetings and more extensive research

·       advice documented

From $2,950 + GST

Ongoing Adviser Access

·       financial advice ‘maintenance contract’ tailored to the client’s requirements

·       ongoing access and support if the client has a problem or question about any aspect of their finances

From $85 per month
+ GST

Other Consultancy Services

·       financial consulting outside above areas of scope

$225 per hour
+ GST

 

 

 

CONFLICT OF INTEREST

ImPower is unaware of any conflicts of interest which exist in its business. Our complete focus is on providing the best outcome for the client.

 

COMPLAINTS HANDLING AND DISPUTES RESOLUTION

ImPower has an internal complaints process which is detailed in our Complaints Policy.

Essentially, anyone who has a complaint should contact ImPower directly. The complaint will be logged and dealt with promptly.

In the unlikely event that we are unable to resolve the complaint satisfactorily, we have a Dispute Resolutions Service (DRS) which is available to clients if “deadlock” is reached.

ImPower is a member of the Financial Services Complaints Ltd (FSCL) DRS. Information about FSCL can be found at www.fscl.org.nz

 

PRIVACY AND DATA COLLECTION

I/We need to collect your personal information for the purpose of:

  • Evaluating and determining your request for advice;
  • Maintaining relevant records and advice reports.

In providing our adviser services to you, you consent and give authority to me/us to obtain your personal information or disclose your information to, the following parties:

  • the Regulator and external compliance personnel or any service provider when implementing any of my/our recommendations or variations thereof;
  • any other individual or organisation where disclosure is required by law.

 In providing our adviser services to you, you consent to your information being used by us, members of our staff, and administrators on our behalf and other companies for the purposes for which your information was collected.

The information is held by me at the offices listed in this document and on our systems, some of which are cloud based.

 

CONTACT US

Jessica Jamieson, director, Financial Wellbeing Specialist

Phone:     027-528-0583                         Email:     

 

Tony Walker, director, Financial Wellbeing Specialist

Phone:     021-656-223                           Email:     

 

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