Information about Nautilus

Advice Areas

Nautilus is licenced to provide specialist financial advice on KiwiSaver, Investment, Health Insurance, and Life Insurances (including Income Protection and Serious Illness cover). We do this for individuals and businesses.

We do not provide financial advice on your broader financial situation or in the following specialist advice areas:

• General insurances (e.g. home, contents, travel, professional indemnity, or public liability).

• Mortgages or other borrowing.

• Legal, accounting or tax advice.

Product Partners

We are financial advisers, not product salespeople. This means our advice matches your needs with suitable financial products from leading providers that we have selected:

• For KiwiSaver and Investment, we work with Consilium, Milford Asset Management, Booster Investments, Generate Wealth, and Pathfinder Asset Management.

• For Life Insurance, we work with Partners Life, Asteron Life, Fidelity Life, and AIA.

• For Health Insurance, we work with Partners Life, NIB, Southern Cross, and AIA.

Our Duties to You

Under the Financial Markets Conduct Act 2013, Nautilus has a range of duties to clients including to:

• 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 on the Financial Markets Authority website at https://www.fma.govt.nz

Fees 

Nautilus may charge fees for the financial advice and support we provide you. Our fee is often waived or covered by the financial product provider (partly of fully) meaning you don't have to pay. 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 that we will waive if:

• you already are 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 commission paid to us, so that we can continue to provide ongoing advice and support as needed.

For Investment advice, we charge an initial advice fee 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 commission paid to us, so that we can continue to provide ongoing advice and support as needed.

For Insurance advice, we charge an initial advice fee 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. For insurance policies that a client reduces or cancels within 2 years of issue, we charge an early cancellation fee of $500 plus GST to share part of the cost imposed by insurers on Nautilus.

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.

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 process for 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 any commissions we will receive are provided along with our advice so that clients can 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

At Nautilus, our goal is 100% client satisfaction every time. Where this isn’t possible, we aim to resolve any issues fairly to the best of our ability. If you are not satisfied with our service, you can email support@nautilus.net.nz or call (09) 394 2011. We will try to resolve the issue together with you 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.

If we are unable to resolve your complaint to your satisfaction, you can contact the Financial Dispute Resolution Service (FDRS). FDRS provides an independent dispute resolutions service that may help investigate or resolve your complaint. This service is available to you at no charge. You can contact FDRS at enquiries@fdrs.org.nz or by calling 0508 337 337.