Under the Financial Advisers Act 2008, all financial service providers (like Sovereign) are required to give their retail customers a disclosure statement about the financial adviser services they provide, when they give personalised financial advice. Sovereign is a QFE, so it provides a QFE disclosure statement.
You can find three types of QFE disclosure statements on this site:
Earlier versions of the QFE disclosure statements can be found by date here:
To find out more, please read our frequently asked questions below, or call our Customer Relationship team on 0800 500 108.
What is a QFE?
A QFE is a qualifying financial entity - specifically:
- This is a business that is authorised by the Financial Markets Authority (FMA) to provide financial adviser services. Sovereign is a QFE.
- Sovereign’s QFE takes responsibility for the conduct of the financial advisers it employs or nominates.
What are the different types of advisers Sovereign QFE Group has?
- employees of Sovereign;
- nominated representatives, i.e. advisers that Sovereign has nominated to provide financial adviser services on its behalf.
Most employees you talk to at Sovereign are QFE Advisers.
You can find out about other types of financial advisers and their relevant qualifications at fma.govt.nz.
What is a QFE disclosure statement?
A QFE disclosure statement provides information about the financial adviser services that are offered by the QFE including what products it can advise on. Where those services are offered in respect of more complex products such as investment products (called Category 1 products), the disclosure statement will also provide details of how the QFE is remunerated. The disclosure statement also details how to bring a complaint, including what dispute resolution service the QFE belongs to. Sovereign QFE belongs to the Insurance and Financial Services Ombudsman.
Why is it important?
Whenever you get advice about your finances, you need to know that the person you are receiving the advice from is qualified to help you. A QFE disclosure statement should provide you with enough information to help you decide whether or not to take advice from one of our QFE Advisers.
Your insurance and finances are personal and so it’s important to deal with someone that you feel comfortable with. You may consider the disclosure you get from different advisers when deciding whom to choose.
What does an adviser need to tell me before I sign up?
Before you get any financial advice, your adviser needs to explain what type of adviser they are and give you a disclosure statement.
What do I do if something goes wrong?
If you have a problem, concern, or complaint about our products or financial adviser services, please let us know so we can try and fix the issue. You can do this in several ways as detailed in our QFE disclosure statement.
Any more questions?
If you have more questions about our QFE disclosure statement, please call our Customer Relationship team on 0800 500 108. Or if you’d like to know more about QFE disclosure statements in general, get in touch with the FMA or visit fma.govt.nz.