Discretionary Investment Management Service

FINANCIAL ADVICE DISCLOSURE STATEMENT

This document sets out important information about Jarden’s financial advice service in respect of our Discretionary Investment Management Service. It is important you read this document carefully to ensure you understand it. Please contact your Jarden adviser with any queries.

Jarden’s Financial Advice Provider Disclosure Statement and Privacy Policy are both publicly available on our website: Jarden.co.nz, while our custodian, FNZ’s, Disclosure Statement is available here. Financial advice is provided by Jarden Wealth Limited and your qualified Financial Adviser on behalf of Jarden Wealth Limited. Jarden Wealth Limited is a registered financial services provider (FSP1006426) and holds a Financial Advice Provider licence issued by the Financial Markets Authority. It also holds a Discretionary Investment Management Service licence and is an NZX Advising Participant.

The relevant documentation for the Discretionary Investment Management Service itself includes:

The Client Agreement
Your Investment Proposal / Investment Authority
Our Service Disclosure Statement.

For further information about the Discretionary Investment Management Service itself, please refer to the above documents (which will be provided should you wish to proceed with the DIMS service) and contact your Jarden adviser.

NATURE AND SCOPE OF OUR FINANCIAL ADVICE SERVICE

We will complete a Client Discovery and Risk Questionnaire with you to gain an understanding of your investment goals. We will then design an investment strategy and portfolio (outlined in your Investment Proposal) that we believe best aligns with your personal circumstances as disclosed to us, investment objectives, risk tolerance level, and investment time horizon. When approved by you, we will implement your portfolio as part of the Discretionary Investment Management Service.

In preparation of your portfolio and while managing your portfolio, we can provide financial advice on your investment strategy including an asset allocation tailored to your investment goals and objectives. We can also advise you on financial products such as equities, bonds, deposits, foreign exchange and funds. Individual personal circumstances that you have told us about will be taken into consideration when we provide you advice.

The scope of financial advice in this service is limited to taking into account your specific circumstances disclosed to us, your portfolio, level of acceptable risk exposure, investment goals and objectives, investment time horizon, and any investment restrictions you have specified. We will ensure our advice is suitable for you based on what you have made known to us, but we won’t account for anything you haven’t told us about, so please bear that in mind when considering our advice. We do not provide advice on other financial planning issues such as insurance, taxation, legal or regulatory advice, estate planning, direct property or real estate advice, or asset protection.

Under your Investment Authority, you grant us the authority to manage your portfolio on a discretionary basis. This means your Jarden financial adviser/s makes all investment decisions on your behalf under our Discretionary Investment Management Service, without seeking your prior approval.

If you are a client of the Discretionary Investment Management Service, please see section 4 (Risks) of the Investment Proposal and section 4 (Risks of using this service) of the Service Disclosure Statement for risks specific to the service itself.

Please contact your Jarden adviser if you would like to find out more about Jarden’s other financial advice services, including our Transactional Advice Service and Portfolio Advice Service.

FEES

No fees, expenses, or other amounts will be payable for the provision of financial advice in respect of the Discretionary Investment Management Service. However, Jarden will benefit from the fees it generates as provider of the Discretionary Investment Management Service.

For fees payable for the Discretionary Investment Management Service itself, please see section 3 (Fees and costs) of the Investment Proposal.

Your account may be subject to further potential transaction charges while doing business with Jarden. It is important that you read the Fee Schedule in accordance with these agreed services and fees. Fees may be changed on written notice to you in accordance with our Terms and Conditions. Please read these. We will also give you regular information showing the fees and expenses actually charged.

CONFLICTS OF INTEREST AND COMMISSIONS OR OTHER INCENTIVES

A conflict of interest may arise where the interests of Jarden or any of our advisers may be perceived to materially influence our advice.

The table below outlines potential conflicts of interests that may arise (these are also outlined in section 5 of the Service Disclosure Statement - Jarden’s conflicts of interest):

Potential conflict	Description
Jarden Securities Limited (JSL)	JSL is a subsidiary of Jarden Group Limited, which has an investment in FirstCape Group Limited , the ultimate parent company of Jarden Wealth Limited. We will consider investment opportunities in different investment products when providing the DIMS. The investments will be appropriate for the investment strategy agreed with you. Investments in your portfolio may include those in shares and debt securities in which JSL may have a role in the offering syndicate. JSL is in the business of investment banking (e.g., mergers and acquisitions (M&A), corporate advisory work, new issues of investment product, secondary offerings and placements and other transactions) with companies whose securities in which Jarden may transact and manage in the DIMS. JSL may also trade in investment products as principal for its own account. Our research analysts and JSL research analysts publish investment and economic research that will be used as one of a number of sources of analysis in providing the service to you. JSL acts as a Trading and Clearing Participant for Jarden clients.
Jarden’s other related companies and affiliated persons	We may invest in securities that are issued, or funds that are managed, by a related or associated company of Jarden. Currently these include Harbour Asset Management Limited and PearlFisher Capital Limited. Any such related party will receive fees for their management of these securities or funds. Those fees are either charged on an arms-length basis (as in, they are the same as the fees charged to those investing direct) or alternatively as set out in the applicable documentation. In addition, National Australia Group (NZ) Limited (NAB) is a shareholder in FirstCape Group Limited. We may invest in securities that are issued by NAB (or any of its subsidiaries including BNZ). These related parties may benefit from any investments placed with them.
Fees	JSL and Jarden may be paid fees by the companies and persons either acts for (e.g., brokerage of a percentage of the dollar amount subscribed for by the investor, plus a percentage as a firm allocation fee plus if in a syndicate as a lead manager, a percentage as arranger or a fixed fee amount). In some situations, JSL may also act as underwriter of an issue, which means that the issuer will pay JSL an underwriting fee for the risk taken by JSL in supporting the transaction. The amount of the underwriting fee will vary depending on the risk of the transaction concerned. All of these fees can and do vary by transaction. Investment banking fees for advisory and M&A work will vary by transaction.
Adviser remuneration	The remuneration of Jarden’s advisers is comprised of a fixed salary and a discretionary attribution bonus and additional discretionary bonus, payable at the discretion of Jarden’s Board and Remuneration Committee. Bonuses are discretionary payments. They are not solely based on individual performance and include consideration of the individual’s conduct as well as reference to Jarden’s revenue that is attributable to the specific financial adviser. Bonuses are not influenced by the choices of financial products included in an investor’s portfolio. Jarden Compliance undertakes sample client file inspections from time to time to ensure the advice provided promotes good outcomes for our clients.
Shareholdings in Jarden / FirstCape	Jarden advisers may have an equity interest in the Jarden Group Limited (a related company of Jarden Wealth and Asset Management Holdings Limited, a shareholder of FirstCape Group Limited) or a direct equity interest in FirstCape Group Limited. Any payment of dividends or other distributions to shareholders has no effect on the service provided.

Manage conflicts of interest

Jarden maintains a comprehensive and robust framework of policies and processes to manage conflicts of interest. Conflicts of interest are managed by various means including use of appropriate disclosures, separation of functions, compliance policies and declining to act. Our Remuneration Committee manages employee compensation including any discretionary bonus.

Furthermore, both Jarden and our Financial Advisers are subject to a range of statutory duties and the Code of Professional Conduct for Financial Advice Services, under which we are required to prioritise our clients’ interests in the event of any conflict of interest and ensure that any advice we provide is suitable.

COMPLAINTS AND DISPUTES RESOLUTION PROCESS

If you are not satisfied with the service you have received from us, you should contact us. We have an internal complaints process and undertake to investigate your concerns promptly and fairly. You may contact us to make a complaint by telephone at 04 474 4400 or by email to [email protected]. You can also write to us at Level 21, 171 Featherston Street, Wellington. Jarden’s Compliance department will attempt to address your complaint with your adviser in the first instance and, if necessary, will escalate the complaint to Jarden’s senior management for a final determination. We will let you know when we have received your complaint and will generally respond to your complaint within 20 business days.

You have the right to take an unresolved complaint to Financial Services Complaints Limited (FSCL). FSCL is an independent approved dispute resolution scheme to which we belong. FSCL can be contacted at: PO Box 5967, Lambton Quay, Wellington 6145 or by phone 0800 347257 or 04 472 3725 or at [email protected]. There is no cost to you to use the services of FSCL.

DUTIES

Jarden Wealth Limited and any person giving advice on our behalf will be bound by duties to:

(i) meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services; and
(ii) give priority to the client’s interests; and
(iii) exercise care, diligence, and skill; and
(iv) meet the standards of ethical behaviour, conduct, and client care set out in the Code of
Professional Conduct for Financial Advice Services.

TERMS AND CONDITIONS

Before opening an account with Jarden, please read the Terms and Conditions in full. We provide our services in accordance with these Terms and Conditions.