Disclosure

Licensing information

Aurora Capital Limited (FSP1002213, trading as Aurora Capital) holds a full financial advice provider licence issued by the Financial Markets Authority to provide financial advice.

Nature and Scope of The Advice

Aurora Capital provides advice to their clients about their KiwiSaver investments and may give you a recommendation for an Aurora KiwiSaver Scheme fund or strategy that suits your investment timeframe.

The advice is general in nature and only relates to the Aurora KiwiSaver Scheme.

They do not provide a full investment advice service (or financial planning), so you will need to consult an investment specialist if you require this type of advice service.

Implemented Investment Solutions Limited is the issuer and manager of the Scheme.

Fees or Expenses

Aurora Capital does not charge an advice fee or any other amount for KiwiSaver general advice provided to their clients, however, if you invest in the Scheme, you will pay a fee that forms the annual fund charges charged to you in respect of your membership of the Scheme. Part of the annual fund charges will include an ongoing advice fee.

Conflicts of Interest and Incentives

Aurora Capital                                                                       

Aurora Capital only provides recommendations in respect of financial products in the Aurora KiwiSaver Scheme, for which Aurora Capital Limited is the investment manager. This has the potential to influence Aurora Capital to advise clients to invest in the Scheme when it may not be in clients' best interests.

When you seek general advice from Aurora Capital and invest in the Scheme, you will pay a fee that forms part of the annual fund charges charged to you in respect of your membership of the Scheme. These payments create potential conflicts of interest and, as such, have the potential to influence the general advice provided if advice processes are not properly managed.

You may wish to consider whether these fees are likely to materially influence the advice you get and whether your adviser or financial advice provider, or another person connected with them, has any other interests likely to materially influence the advice you get.

Most Aurora Capital advisers are full-time employees and remunerated with salaries and "great client outcomes" bonuses.

From time to time, they may also receive an ongoing advice fee of up to 0.15% (including GST), of the average daily value of the KiwiSaver scheme entitlements, each year.

Your adviser will disclose any specific incentives during their advice process.

To ensure that their financial advisers prioritise their clients' interests above their own, they follow an advice process that ensures their recommendations are made on the basis of each client's age and stage in their KiwiSaver journey. All their financial advisers undergo annual training about how to manage conflicts of interest. They undertake a compliance audit, and a review of their compliance programme annually by their internal compliance team and reputable external compliance firm.

Aurora Capital takes the following additional steps to ensure that any conflicts of interest are identified and managed, and that clients' interests are always put first. These are:

• disclosing the existence of conflicts of interest to investors (for KiwiSaver products), including in the disclosure above;

• the Aurora Code of Business Conduct, which applies to Aurora Capital advisers. This Code provides that advisers must never permit their personal interests to conflict with or to appear to conflict with, the interests of clients. All advisers must make all reasonable efforts to avoid conflicts of interest and ensure that clients are treated fairly;

• compliance by Aurora Capital advisers with the Code of Professional Conduct for Financial Advice Services; and internal monitoring by Aurora Capital’s compliance team to ensure that our directors and employees comply with our duties to clients and all other relevant laws and rules, and regular reporting on compliance-related issues to our board.

Complaints and Feedback

They value your feedback - if you are not satisfied with the financial advice service of Aurora Capital, you can make a complaint by:

Emailing: compliance@aurora.co.nz

or by calling: 0800 242 023.

You can also write to them at: PO Box 606, Christchurch Central, Christchurch 8140.

When they receive a complaint, they will consider it following their internal complaints process.

They will consider your complaint and let you know how they intend to resolve it. They may need to contact you to get further information about your complaint.

They aim to resolve complaints within 10 business days of receiving them. If they can't, they will contact you within that time to let you know they need more time to consider your complaint.

They will contact you by phone or email to let you know whether they can resolve your complaint and how they propose to do so.

If they can't resolve your complaint, or you aren't satisfied with the way they propose to do so, you can contact the Financial Dispute Resolution Service (FDRS). However, you must contact FDRS within 2 months from the date when you receive their final decision. That means FDRS can only investigate your complaint if you contact them within the aforesaid timeframe.

FDRS provides a free, independent dispute resolution service that may help investigate or resolve your complaint, if Aurora Capital hasn't been able to resolve your complaint to your satisfaction.

You can contact FDRS at:

Telephone number: 0508 337 337 / +64 4 381 5047 (international callers);

Email Address: enquiries@fdrs.org.nz

Postal Address: Freepost 231075, PO Box 2272, Wellington 6140;

OR fill in the online complaints form.