License Status and Conditions 

DUX Financial Services Limited (FSP 670191) holds a Class 2 Financial Advice Provider License issued by The Financial Markets Authority to provide Financial Advice. 

DUX Financial Planning Limited (FSP 731551) is Authorised by that License to provide Financial Advice. 

Nature and Scope of the Financial Advice Given

Our Financial Advisers provide financial advice in relation to the following:  

• Mortgages 

• Personal Insurance 

• Personal Fire and General Insurance 

• Financial Planning  

• Investment Strategies (Strategic asset allocation and investing) 

• Debt management (including borrowing for personal and investment purposes)  

• KiwiSaver investment strategies and retirement planning 

Products and Areas, we can provide Financial Advice About

• KiwiSaver investments 

• Managed Funds 

• Personal and Group Insurance (life cover, disability, income protection, mortgage protection, trauma and medical). 

• Life investment products including whole of life, endowment, and bonds. 

• Business Risk Insurance (Life, Key person, loss of revenue and other) 

• Loans including mortgages, reverse mortgages, and personal loans. 

• Personal Fire and General Insurance including, house car, contents, landlords. 

• Personal Financial Planning, including savings, retirement, debt management, budgeting, homebuying, investment planning. 

• Financial Coaching including homebuyer's assistance, property investment vetting, EAP Advice, and individual advice needs. 

Reliability History 

Disciplinary history you should be aware of: None. Nada. Zero. Zip. Zilch.  

There have been no professional indemnity insurance or negligence claims, disputes resolution actions, or disciplinary actions. Ever. 

Our Primary* Product Providers we might Recommend 

*Primary = providers we actively work with most of the time

Mortgages – ANZ, ASB, AIA Go Home Loans, BNZ, Kiwibank, Westpac, Co-op, Heartland, SBS, Liberty, Avanti, Pepper Money, Unity. 

Risk Insurance – AIA, Resolution Life, Fidelity, Partners Life, Asteron, Southern Cross, Chubb Life, Pinnacle Life, NIB, and Accuro. 

Fire and General Insurance – AON, Blanket, Tower 

KiwiSaver – Booster, ANZ, AMP, Fisher Funds, Generate, Smart, JMI Wealth, Koura, Superlife.

Managed Funds – ANZ,Booster, Consilium/Synergy, Superlife/Smart, NZ Funds, Fisher Funds, AMP, Select Wealth, Pathfinder, Milford.  

We also work with a number of smaller specialist providers in many of the above areas. Where they are relevant to a client's needs, we will advise at the time. 

Privacy Information

1.   The Privacy Act 2020 provides you with the right to request access to, and seek correction of, any personal information held by DUX Financial Services and by any product provider.

2.   Information provided by you, or your authorised agents may be used by DUX Financial Services and any relevant product/service provider for the purpose of providing advice to you.  It may also be made available to any regulator, relevant government body, legal or compliance advisers of DUX Financial Services, or relevant product/service provider, and claims investigators who may need access to such information for the purpose of processing and administering any business you may seek to transact.

3.   Further I/We specifically acknowledge and agree to medical, personal and property information, upon which special acceptance conditions have been based, being disclosed to the adviser by the

selected Insurer.

4.   Further I/We specifically acknowledge and agree to DUX Financial releasing, as required sufficient information to defend itself, should I/We disparage DUX financial or any of its advisers, staff, or contractors, either online, in print media or any other form. 

5.   We may use secure technology tools, including AI-assisted tools, to record, transcribe, and summarise meetings to ensure accuracy and efficiency. These tools may process your information through third-party systems, which may be located overseas. By continuing to engage our services after being notified, you consent to the collection, use, storage, and disclosure of your personal information as described above. If you prefer not to be recorded, we can take manual notes instead. You may withdraw your consent to specific uses (such as meeting recording) at any time by notifying us, although this may affect our ability to provide services.

6.   The information provided by you will be either physically held or stored electronically at the offices of DUX Financial and or stored electronically by a secure cloud-based service. For data storage reasons these may also be held securely off site or at any site DUX Financial determines to be its offices. This is currently at: Level 1, 60 Cuba Street, Te Aro, Wellington, 6010

Fees, expenses, and other amounts payable for our Financial Advice

The following section outlines the types of fees that may apply. 

The fees charged for our advice and services may be based on a combination of a set dollar amount, an hourly rate, a percentage-based fee, or commission in lieu of fee. 

• Our agreed advice and service fees may include charges for: Initial advice, ongoing or annual advice and services, product placement fee, non-completion fee. Specific fees are determined and agreed in the scope of service before work is commenced or payable.  

• All DUX advice work attracts a fee, sometimes this is paid by the client and/or taken as commission in lieu of a fee. Should the commission be clawed back, the fee for work is reinstated and invoiced to the client. This will be confirmed in the scope of service. 

• The actual fee charged to you will depend on the nature and scope of the advice or service we provide. We will discuss and agree the actual fees with you before we proceed and explain how they are payable. 

Conflict of Interest and Incentives 

DUX Financial Services and our financial advisers receive commissions from the providers on whose products we give financial advice (the insurers, banks, and KiwiSaver providers). 

If you decide to take out insurance or a mortgage, or to take our KiwiSaver advice, the provider will pay a commission to DUX Financial Services and to your financial adviser.  The amount of commission is based on the amount of the premium or mortgage, or the KiwiSaver balance.  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, we follow an advice process that ensures our recommendations are made based on the client’s goals and circumstances.  

Our philosophy at DUX Financial is to give sustainable financial advice that benefits clients in the long term. This in turn results in happy clients who refer their friends and family to us, which has allowed us to grow our business over many years. This philosophy flows through into how we recruit and train all our financial advisers. If an individual adviser gives financial advice focused only to short term gains for the adviser and nothing for the client, they will not work at DUX Financial.  

All our financial advisers undergo annual training about how to manage conflicts of interest. We maintain registers of conflicts of interests, and the gifts and incentives we receive. DUX Financial Services monitors these registers and provides additional training where necessary. DUX Financial Services performs an annual review of our compliance programme. 

DUX undergoes a quarterly review of product providers to maintain their suitability for our clients. 

Conflicted Remuneration Note: 

• All fees and commissions are paid to DUX Financial Services and or the adviser  

• DUX Financial Services and the adviser uses all gross revenue to pay the operating expenses of running a compliant professional business 

• DUX Financial Services then pays its’ tax obligations on the “net profit” after costs 

• What is left, if any, is available to the adviser as personal remuneration – who then pays tax on that.  

• Typically, the potential conflicted remuneration for the Financial Adviser amounts to between 35-50% of gross revenue in any given year. What a client pays is not the same as what the Financial Adviser earns 

Commission Rates 

For services in relation to insurance, investments and loan products, commissions may be paid by the product provider as follows: 

Initial commission - a percentage of the value of your investment contributions, loan balance or insurance premiums: 

• Mortgages – from 0.55% to 0.85% of loan amount 

• Personal and Business Risk Insurance – from 80% to 210% of first year’s premium 

• Investments – Generally 0%, some providers may pay a small dollar commission 

• KiwiSaver – 0%, some pay from $30 to $240  

• Personal Fire and General – 0% 

• Commercial Fire and General (referred) – up to 20% of the commission paid to the broker 

Ongoing servicing commission - a percentage of the value of your investment balance, outstanding loan amount or premiums, usually calculated at the end of each month in which you hold the investment or loan, or on renewal of insurance products.  

• Mortgages – 0% to .30% per annum of loan amount - or refix fees of $0 to $150 per refix 

• Personal and Business Risk Insurance - from 6% to 20% 

• Fire and General - 15% of the Insurance Companies premium (not GST, EQC or FSL) 

• KiwiSaver – 0% to 0.50% per annum of fund balance 

• Managed Funds – 0% - 1% per annum of fund balance  

Duties

Under the Financial Markets Conduct 2013 we are bound to: 

• Give priority to client’s interests 

• Exercise care, diligence and skill 

• Meet standards of competence, knowledge and skill set by the Code of Professional Conduct 

• Meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct  

Complaints Handling and Dispute Resolution

We intend for all our clients to have an enjoyable and productive experience with us. 

If there is something you are not satisfied about when dealing with your Financial Adviser and DUX Financial: 

In the 1st instance, please communicate this to your Financial Adviser so that they can help resolve this if possible.  

If you are not satisfied with that outcome, you can make a complaint by emailing complaints@duxfinancial.co.nz , or by calling us on 0800 000 987. You can also write to us at: 

DUX Financial – Attn: Office Manager 
PO BOX 13 511 
Johnsonville 6440 

When we receive a complaint, we will follow 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 respond to complaints within 10 working days of receiving them. If we require more time to meet that timeframe, we will call you and will aim to provide you with a realistic timeframe   

• 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 cannot resolve your complaint, or you are not satisfied with the way we propose to do so, you can contact our external dispute resolutions scheme, the Insurance and Financial Services Ombudsman (IFSO).  

IFSO provides a free, independent dispute resolutions service that may help investigate or resolve your complaint if we have not been able to resolve your complaint to your satisfaction. 

You can view their website, contact them via email, phone, or write to them at:  

Website: www.ifso.nz

Email: info@ifso.nz 

Phone: 0800 888 202 

IFSO Scheme,   

PO Box 10-845, 

Wellington 6143, 

NEW ZEALAND