We provide this information to help you decide if Nautilus Advisers Ltd. (Nautilus) is a good fit with for your advice needs. Nautilus holds a Financial Advice Provider licence (FSP716152) issued by the Financial Markets Authority. You can view our licence status here.
This public disclosure was last updated on 16 June 2023 (v1.4).
Areas of Financial Advice
Nautilus provides advice on KiwiSaver, Investment, Health Insurance, and Life Insurance (including Income Protection and Serious Illness cover).
We are financial advisers, not product salespeople. This means our advice matches your needs with a wide range of financial products from leading providers that we are accredited to work with:
For KiwiSaver and Investment, we work with Milford Asset Management, Booster Investments, Generate Wealth, and Pathfinder Asset Management.
For Life Insurance | Income Protection | Serious Illness, we work with Asteron Life, Fidelity Life, Partners Life, and AIA, and Chubb.
For Health Insurance, we work with NIB, Accuro, Southern Cross, Partners Life and AIA.
We do not provide financial advice on your broader financial situation or in the following areas:
General insurances (e.g. home, contents, travel, indemnity, or liability).
Mortgages or other borrowing.
Legal, accounting or tax advice.
Any mention of the above in our advice is solely to bring them to your attention so that you can choose if you want to seek professional advice on these matters.
Our Duties to You
Under the Financial Markets Conduct Act 2013, Nautilus duties to you include:
Give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests.
Exercise care, diligence, and skill in providing you with advice.
Meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services.
Meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services.
More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz.
Fees & Expenses
Nautilus may charge fees for the financial advice and assistance we provide you. Our fee is often waived or covered by the financial product provider (partly of fully). If a fee is to be charged, we will provide information in time for you to make an informed decision on whether to proceed or not.
For KiwiSaver advice, we charge an initial advice fee of $150 that we will waive if:
you already are a client or become a KiwiSaver client within 14 days of our advice, and/or
you are referred to us by an existing Nautilus client or a company that Nautilus works with.
We charge an ongoing advice fee of 0.5% per annum of funds under management less any payment to us by the provider so that we can continue to provide ongoing advice and support as needed.
For Investment advice, we charge an initial advice fee of $250 that we will waive if:
you already are an Investment client, or
you apply for new investment(s) via Nautilus within 14 days of our advice and complete the investment within 28 days ($75,000 minimum investment applies).
We charge an ongoing advice fee of 0.5-1% per annum of funds under management less any payment to us by the provider so that we can continue to provide ongoing advice and support as needed.
For Insurance advice, we charge an initial advice fee of $250 that we will waive if:
you already are an Insurance client, or
you apply for new insurance(s) via Nautilus within 14 days of our advice, and the insurance(s) are issued with within 90 days ($100/month minimum premium applies).
We do not charge an ongoing advice fee. For insurance policies that a client reduces or cancels within 2 years of issue, the insurance company ‘claws back’ any commission earned by Nautilus. In this instance we charge an early cancellation fee of $500 plus GST to share part of these costs.
For general advice and assistance including where extra time is expected for the services above, we charge an additional fee of $150 per hour. Any reasonable expenses are charged at cost.
Fees are normally invoiced with our Statement of Advice and are due in 14 days.
Conflicts of Interest
To ensure we prioritise our clients’ interests above our own, Nautilus follows a structured advice process so that our recommendations fit your goals and circumstances. Nautilus also periodically get specialist external reviews of our advice and process to make ongoing improvements.
For KiwiSaver and Investment, we may receive an ongoing commission from the product provider based on your funds under management. Nautilus aims to earn the same regardless of the provider so there is no financial incentive to recommend one over another. To achieve this, we reduce our ongoing advice fee by any amount that Nautilus receive from the provider.
For Insurance, we may receive an upfront and/or ongoing commission from the provider based on your insurance premium. Insurance company systems do not allow us to standardise what we earn across providers. Where possible, we trade off higher upfront sales commissions and opt for higher ongoing commissions that incentivise long term client relationships and ongoing service. Details of commissions we will receive are provided with our advice so that clients make informed decisions.
For any gifts over $200 in value that Nautilus may receive from a product provider, our policy is to refuse these or ‘on-gift’ these to our clients (e.g. via a client prize draw).
For referrals made to a mortgage provider, financial planner or general insurance broker, Nautilus can receive a ‘referral fee’ upfront and/or ongoing payment.
Complaints & Dispute Resolution
If you are not satisfied with our service you can email admin@nautilus.net.nz, call (09) 394 2011, or write to us at: PO Box 65381, Mairangi Bay, Auckland.
If we receive a complaint, we will try to resolve this together via 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 Financial Disputes Resolution Service (FDRS). FDRS is an independent dispute resolution service available at no cost to clients that can help investigate or resolve your complaint.
You can contact FDRS at enquiries@fdrs.org.nz or by calling: 0508 337 337.
You can also write to them at: Freepost 231075, PO Box 2272, Wellington 6140.