Transactional Broking

Designed for clients who would like general financial product and market advice, with access to our research and transactional services. This suits people who are comfortable with investing in financial products and are only looking for advice on particular securities or markets, without needing advice that has been fully personalised to their circumstances or comprehensive portfolio or investment planning advice or reporting.

Principal Benefits:

  • Access to a financial advisor who can act on your behalf (as your agent) to transact in local and global markets as directed by your instruction.

  • Access to professional advice and research on specific financial products and markets that is objective but non-personalised, based on MFM’s extensive research network and on the skills and experience of MFM Investment Advisors.

Principal Risks:

A limitation of the Transactional Broking service is that it is non-personalised advice. Recommendations regarding acquiring, disposing, or holding a financial product is generic in nature without any particular client specific circumstances in mind and may not take account of your personal financial situation, goals, needs and tolerance for risk, regardless of any knowledge we may have of them.

We will not provide advice on strategy, goals, or investment planning to clients in this service. This limitation is an important consideration for investors using this service as you will be responsible for determining whether any investment advice is suited to you and your circumstances.

There is no formal ongoing review process in this service. For this reason, the service is only suitable for you if you are comfortable accepting responsibility for the ongoing proactive monitoring, performance assessment and management of your investments.

Fees and Charges

Brokerage and Trade Fees - shall have two-day payment terms. All other fees and charges shall have mutually agreed payment terms, charged in arrears of service. All fees listed are inclusive of GST unless it is otherwise stated.

Brokerage Fee (Secondary Market) - Up to 1.5% of the dollar value transacted subject to a minimum brokerage charge of $75.00. This is inclusive of fees charged by the executing broker.

Trade Fee - Up to $10.00 per secondary market order transacted. This is not received by Maxim; in effect the client pays it to the exchange advising participant or the third party capable of executing the security transactions.

Custody Fee (For global equities held outside of a Custodial Wrap arrangement) - Up to 0.25%

Ongoing Monitoring (Includes quarterly and annual portfolio reviews and reports) - Only if requested. Up to 1.00% of the market value (in New Zealand dollars) per annum inclusive of GST, of the funds managed or advised on.

Miscellaneous fees and charges - Any charges or penalties imposed by another broker, share registry, custodian, NZX or other recognised securities exchange, or authority including, without limitation, stamp duty, shunt fees, charges or penalties imposed as a result of late or non-delivery of scrip, holder identification particulars, shareholding registration numbers or any other information or requirements. This is charged by a third party and any costs incurred will not be returned to Maxim.

Other financial advice - We will quote fees for such work on a case-by-case basis.

View: Maxim Client Agreement Terms and Conditions