Basis for provision of product and services

The FMA licences permit MFM and Maxim Financial Advisors to provide Financial Advice and Investment Planning Services about financial products provided by a broad range of organisations. Maxim Financial Markets Limited and your Financial Advisor do not have any constraints imposed on the products and product providers on which recommendations or advice may be provided. Maxim provides KiwiSaver advice in regard to the Milford KiwiSaver Plan only, managed by Milford Asset Management Limited.

Our services are based on the information you provide us in the Client Agreement and Client Risk Appetite Assessment (as updated from time to time). MFM makes available research on individual investments and companies in both New Zealand and international markets. This research may have been produced or commissioned by us or provided by affiliates. The research is part of a wider body of information which MFM have available to provide a basis for our advice and services. The information influences but does not necessarily dictate the assessment of an MFM Investment Advisor when considering whether an investment is suitable for a particular client.

Before acting on any advice or recommendations, you should always consider the appropriateness of the advice or recommendations in regard to your specific situation. Unless the service selected provides otherwise you are responsible for the ongoing monitoring and management of your investments.

Maxim Client Agreement Terms and Conditions

Managing conflicts of interest

At the time of writing, Maxim Financial Markets Limited and your Financial Advisor are not aware of any material external relationships or interests that would provide a potential conflict of interest and that need be disclosed to clients. Should this circumstance change in the future, a full disclosure shall be made to relevant clients, at the time of providing advice, regarding any potential conflicts of interests and how they are being managed.

Maxim Financial Markets Limited and your Financial Advisor are required to tell you as soon as there is awareness of any conflicts or potential conflicts of interest, in relation to the services that are provide to you. You must be told before provision of a service or product, if that is not practicable, as soon as practicable after providing that service or product.

Other Interests and Relationships and or Potential Conflicts of Interest:

  • In the provision of services, Maxim Financial Markets Limited and your Financial Advisor rely on the domestic and international research which Maxim has access to through its business relationships with credible providers as well as other recognised sources. Your Financial Advisor draws on this range of research when providing financial advisory services.

  • Maxim Financial Markets Limited and your Financial Advisor may act as principal when buying or selling securities for you (i.e., Maxim Financial Markets Limited, or associated persons may be the seller of securities sold to you or may be the buyer of securities sold by you).

  • Maxim Financial Markets Limited and your Financial Advisor may be acting for the buyer and the seller in a transaction.

  • Maxim Financial Markets Limited or associated persons may be appointed as Advisor, organising broker, lead or co-manager, underwriter and/or may have given a firm commitment to place securities in respect of a public offer or private placement of securities, capital raising, or other corporate activity which is the subject of the investment advice.

  • Maxim Financial Markets Limited or associated persons may be a director or shareholder of a company which is the subject of the investment advice.

  • Maxim Financial Markets Limited or associated persons may be providing services or products to entities which are the subject of the investment advice.

  • Maxim Financial Markets Limited or associated persons may receive remuneration, directly or indirectly, from persons other than you in connection with giving you investment advice or from a transaction resulting from giving you investment advice, including situations such as the above.

Any fees, profits and commissions from associated persons and other interests and relationships - Up to 100% of the fees, profits and commissions received by associated persons, and 100% of the fees, profits and commissions from activities associated with other interests and relationships may be paid to Maxim Financial Markets or persons associated with Maxim Financial Markets.

Regulations and compliance

Maxim Financial Markets Limited (MFM) and its Financial Advisors (FA) must comply with the Code of Professional Conduct for Financial Advice Services (Code), which outlines ethical behaviour, conduct, client care, competence, knowledge, and skill requirements. MFM and your Financial Advisor must exercise due care, diligence and skill and prioritise the clients’ interests.

As a representative of Maxim Financial Markets, your Financial Advisor is required to comply with the company’s compliance procedures. These are contained in Maxim’s Compliance Monitoring and Anti- Money Laundering and Countering Financing of Terrorism (AML/CFT) Policy. Maxim’s Compliance Monitoring includes policies, procedures and controls relating to personal account trading, training, outside interests and gift and benefit policy. The AML/CFT details account opening and record keeping requirements.

You can check that MFM and each of the named Financial Advisor are registered as a Financial Advice Provider (FAP) and a Financial Advisor (FA) respectively at http://www.fspr.govt.nz. The Financial Markets Authority (FMA) have issued a FAP licence for Maxim Financial Markets Limited, and a FA licence for each named Financial Advisor of MFM to provide financial advice services. As such Maxim complies with the rules, bylaws and guidance notes provided by the Financial Markets Authority, the regulator for the financial services sector.

You can contact the Financial Markets Authority for more information, including financial tips and warnings. You can report information or complain about conduct to the Financial Markets Authority, but in the event of a disagreement, you may choose to first use the Maxim dispute resolution procedure.

Learn More → Maxim dispute resolution procedure