Become Wealth Limited ("Become Wealth", "we", "us", "our") is a licensed Financial Advice Provider (FSP249805), authorised and regulated by the Financial Markets Authority to provide financial advice and Discretionary Investment Management Service (DIMS).
We can provide financial advice about products and services from a broad range of providers.
Become Wealth also works with a range of referral partners for specific needs, including property development firms when clients are considering an investment property.
Become Wealth services exclude certain areas of personal finance. These include budgeting analysis, taxation and accounting services, legal and estate planning. We may refer you to your relevant specialist professional services provider for advice on those matters. Become Wealth may receive a referral fee should you choose to use some of these services. We will provide you with more information about this fee once we have made the referral.
Become Wealth is committed to delivering cost-effective services. Become Wealth is remunerated by way of the fees it charges you, and the fees and commissions it receives from product providers.
The initial consultation of 30 minutes with you is free of charge and without obligation. From there, we will agree on the nature and scope of advice.
If a fee is charged, it will depend on the nature of the financial advice and service that we provide. Most commonly, such fees may be:
In all instances, the exact fees we may charge, if any, will be confirmed at the time the advice is provided and agreed upon by you beforehand. All our fees are payable within seven days of the date you receive the invoice.
Investment management through our Discretionary Investment Management Service (DIMS) is a fee-for-service arrangement. You pay an ongoing fee based on a percentage of the value of your investment portfolio, deducted monthly in arrears, directly from the portfolio. The exact fee is confirmed at the time the advice is provided and agreed by you in writing beforehand.
For investment management, Become Wealth receives no commissions. Where Become Wealth or our research partners negotiate a fee rebate on managed funds held in your portfolio, the full rebate is paid into your portfolio, not retained by us. This is reported to you in your regular reports and visible in your online portal.
The wrap platform provider and the custodian charge a fee for portfolio administration and custody. This fee is calculated daily, paid monthly in arrears, and described in the Service Disclosure Statement and Investment Proposal. The underlying fund managers also charge fees.
For worked examples at typical portfolio sizes, with the Become Wealth fee, custodian fee, and underlying fund manager fees brought together in one place, see our published fee schedule.
You will be charged a fee by the provider you place your investments in. The amount of this fee depends on several factors, such as the provider and the amount you are investing. More information about these fees will be described in the Product Disclosure Statement that will be provided to you.
You will need to pay a premium (regular fee) to the insurer to establish and maintain insurance coverage. This amount will be based on several factors, including the extent of the coverage, the length of time it covers, and your excess. We will provide you with more specific details about these fees once we know more about your personal needs.
You will need to pay interest (a regular charge) to the lender to obtain and maintain the lending. This amount will be based on several factors, including the sum of the lending, conditions, and term or terms. We will provide you with more specific details about these fees once we have spoken to you and learned more about your personal needs.
When we must repay commission to a lender. This occurs if you cancel your loan within a period of up to 28 months of inception. The fee we will charge will be based on the amount of commission Become Wealth must pay back to the lender which reduces on a sliding scale based on the length of time you have had the loan. The closer to the end of the clawback period you are when the loan is repaid, the lower the fee. We will advise you of what this fee will be, as soon as it is known, and in advance of you providing us with your authority to proceed with putting the loan in place. Different lenders have different clawback periods and amounts. Below is an example using hypothetical clawback data.
A loan of $500,000 is drawn down with 0.8% commission received by Become Wealth amounting to $4,000. The loan is repaid after 365 days. The lender requires repayment by Become Wealth of 49.31% of commission amounting to $1,972.22.
Become Wealth has a formal agreement in place with the New Zealand Defence Force (NZDF) to provide financial advice services to members of the Defence Community. NZDF pays a monthly fee to Become Wealth to provide financial education services, newsletters, handle calls or emails where NZDF community members want information, or have an initial 30-minute conversation with a financial adviser. Mortgage advisory services are typically supplied to members at no cost as Become Wealth receives commissions from the lenders. If the Defence Community member decides to proceed with more detailed financial advice then the fees are:
Become Wealth advisers are engaged either as salaried employees or as contractors paid fees by Become Wealth.
Remuneration is not solely linked to sales targets or product recommendations.
Advisers may receive a discretionary bonus based on a blend of factors, including overall company profitability, client service and satisfaction levels, compliance performance, continued professional development, teamwork, and productivity targets.
Promotions, pay increases, or contractor fee adjustments are determined by merit, efficiency, and overall effectiveness.
Our financial advisers are:
Become Wealth may receive commissions from product providers when we place business on your behalf, particularly for mortgages and personal risk and insurance products. The specific amount varies depending on the provider and product; we will disclose exact details at the time advice is provided. These commissions support business operations, including no-cost or low-cost mortgage and insurance advice, and do not go to individual advisers personally. No adviser engaged by Become Wealth receives personal commissions from product providers.
For investment management, via DIMS, the position is different and is set out above under Investment management fees: Become Wealth receives no commissions, and any fund manager rebates are paid in full into your portfolio.
Become Wealth has no institutional ownership or control from banks, investment platforms, insurers, or fund managers. This eliminates "house brand" funds, internal product quotas, or perceived or real pressure to favour specific providers.
Our recommendations are drawn from a broad, open range of providers and are based solely on your individual goals, circumstances, and (particularly for investments) independent third-party research.
Shareholders may own shares in Become Wealth through a small number of non-trading or immaterial holding entities. These exist solely for flexible shareholder ownership arrangements and have no operational role or influence over advice, product selection, or business decisions.
Become Wealth is not a related entity (under the Financial Markets Conduct Act) to Consilium, FNZ (custodians/platform provider), fund managers, or the product providers we recommend.
To ensure recommendations always place your interests first:
If you choose to purchase a property from a developer following an introduction by Become Wealth, we may receive a referral fee from the developer. This fee is not added to the property price. We will provide full details before any referral is made.
In many instances, Become Wealth or our research partners have negotiated a fee rebate on managed funds held in DIMS portfolios. To help your investment grow, all negotiated DIMS rebates or commissions are paid directly to your portfolio (a client benefit, not an adviser or Become Wealth's gain). This is transparently reported to you in your regular reports and visible in your online portal.
To ensure our advisers prioritise our clients’ interests:
Become Wealth and its advisers hold distributor agreements with recommended providers and may occasionally receive non-monetary benefits. These are typically minor, such as access to complimentary or subsidised business-support services (for example training, tools, or events), occasional hospitality such as a luncheon or drinks after a briefing session, small gifts such as a bottle of wine at Christmas, a calendar, a notebook or a pen, and invitations to educational sessions. Non-monetary benefits are recorded and monitored.
Become Wealth never pays for awards, rankings, editorial coverage, best-of placements, or reviews. Where the firm or its advisers are named, ranked, featured, or reviewed, the placement was earned and no payment or other incentive was provided.
In providing the NZDF service to Defence Community members, Become Wealth will primarily recommend a product or service listed on the Force Financial Hub. However, Become Wealth may need to recommend alternative third-party products and services where:
If you are not satisfied with our service or financial advice, please tell us as soon as possible.
Phone: 0508 232 663
Email: hello@become.nz
Write to: Become Wealth, Private Bag 93504, Takapuna, Auckland 0740
When we receive a complaint:
If we cannot agree on how to fix the issue, or if you decide not to use our internal complaints process, you can contact our external dispute resolution scheme, the Insurance & Financial Services Ombudsman Scheme (IFSO). IFSO provides a free and independent dispute resolution service that may help resolve your complaint if we have not been able to do so to your satisfaction. You can contact the Insurance & Financial Services Ombudsman Scheme at:
Phone: 0800 888 202
Email: info@ifso.nz
Write to: IFSO, PO Box 10-845, Wellington 6143
Become Wealth and our advisers have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice. We are required to:
Become Wealth Limited FSP249805 is the Financial Advice Provider.
Phone: 0508 232 663
Email: hello@become.nz
Write to: Become Wealth, Private Bag 93504, Takapuna, Auckland 0740
We welcome any questions you may have in relation to this information. Most importantly, we look forward to partnering with you.