http://www.fma.govt.nz/Financial Markets Authorityhttp://www.fma.govt.nz2013-06-19T15:11:17+13:00http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/being-alert-to-scams/names-of-firms-and-individuals-to-be-wary-of/2013-06-19T15:11:17+13:00Financial Markets Authority<div id="teaser-text">Since August 2000 we have published the names of firms who have targeted people in New Zealand.</div><div id="body"><p>This list shows companies or individuals FMA is aware of who do not comply with New Zealand's financial services laws or are not registered as a financial service provider in New Zealand.<br /> <br /> Find out more about why it's important for financial service providers to be <a href="http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/being-alert-to-scams/checking-the-financial-service-providers-register/"> registered</a>.<br /> <br /> The list is not exhaustive. If you are cold called from a firm, or if you have found a company on the internet, that is not on the list, it does not mean they are genuine or appropriately registered.</p> <p>&nbsp;</p> <h3>Names recently added to the list (most recent at the top)</h3> <ul> <li><a href="#BioMedReports">BioMedReports</a></li> <li><a href="#MiltonKeynesCapitalPartnersLLP">Milton Keynes Capital Partners LLP</a></li> <li><a href="#E1AssetManagementInc">E1 Asset Management, Inc.</a></li> <li><a href="#Swiss Asia Commodities Securities">Swiss Asia Commodities Securities</a></li> <li><a href="#Halcyon Offshore Asset Management">Halcyon Offshore Asset Management</a></li> <li><a href="#Vision Continental Consultants Limited (">Vision Continental Consultants Limited ("VCC")</a></li> <li><a href="#Vision Continental services Limited">Vision Continental services Limited</a></li> </ul> <ul> <li><a href="#IB Capital FX(NZ) LLP">IB Capital FX(NZ) LLP</a></li> </ul> <ul> <li> <p><a href="#Mane Capital Markets">Mane Capital Markets</a></p> </li> </ul> <ul> <li><a href="#Plutus Private Equity LLC">Plutus Private Equity LLC</a></li> </ul> <ul> <li><a href="#Department of Securities Trading">Department of Securities Trading</a></li> </ul> <ul> <li><a href="#Advisorcorp Limited">Advisorcorp</a></li> <li><a href="#Century Savings and Trust Ltd /Century Bancorp Limited (formerly)"> Century Bancorp of New Zealand/Century Savings and Trust Ltd</a></li> <li><a href="#Maxum Gold Bnk Limited/Maxum Gold Bnk Holdings Limited/Maxum Gold Bnk PCPT Limited"> Maxum Gold Bnk Limited/Maxum Gold Bnk Holdings Limited/Maxum Gold Bnk PCPT Limited</a></li> <li><a href="#New Zealand International Savings and Loans Ltd">New Zealand International Savings and Loans Ltd</a></li> <li><a href="#Swiss Financial Corp Limited">Swiss Financial Corp Limited</a></li> <li><a href="#Trendoks IMG (NZ) LLC and Trendoks Limited">Trendoks IMG (NZ) LLC</a></li> <li><a href="#Trillion Private Wealth Limited">Trillion Private Wealth Limited</a></li> <li><a href="#Vista International Services Limited">Vista International Services Limited</a></li> <li><a href="#Sumitomo Financial Corporation">Sumitomo Financial Corporation</a></li> </ul> <p>&nbsp;</p> <p><a href="#a">A</a> | <a href="#b">B</a> | <a href="#c">C</a> | <a href="#d">D</a> | <a href="#e">E</a> | <a href="#f">F</a> | <a href="#g">G</a> | <a href="#h">H</a> | <a href="#i">I</a> | <a href="#j">J</a> | <a href="#k">K</a> | <a href="#l">L</a> | <a href="#m">M</a> | <a href="#n">N</a> | <a href="#o">O</a> | <a href="#p">P</a> | <a href="#q">Q</a> | <a href="#r">R</a> | <a href="#s">S</a> | <a href="#t">T</a> | <a href="#u">U</a> | <a href="#v">V</a> | <a href="#w">W</a> | <a href="#x">X</a> | <a href="#y">Y</a> | <a href="#z">Z</a></p> <h2 id="a">A</h2> <h3>Abacus International Capital Corp</h3> <p>The Abacus International Capital Corp listed has stolen the identity of a legitimate firm in the United States. The legitimate Abacus International Corp can be contacted by phone at (212) 285 4770 or by fax (212) 285 4136 or (212) 274 0107.</p> <p>Published on this site July 2007</p> <h3>Abbey House Acquisitions</h3> <p>Tower 42<br /> 25 Old Broad St<br /> London<br /> EC2N 1HQ<br /> UNITED KINGDOM</p> <p>Published on this site March 2006</p> <h3>AB Financial Group</h3> <p>440 South Laselle Street<br /> Suite 3300<br /> Chicago, IL 60605<br /> UNITED STATES OF AMERICA</p> <p>Phone: +1 312 283 0869<br /> Fax: +1 866 277 9351<br /> E-mail: info@abfinancialservicesgroup.com, info@nasdaqshareholdersupport.org<br /> Website: <a href="http://www.abfinancialservicesgroup.com">www.abfinancialservicesgroup.com</a></p> <h3><a id="Advisorcorp Limited " name="Advisorcorp Limited "></a><a id="Advisorcorp Limited" name="Advisorcorp Limited"></a>Advisorcorp Limited&nbsp;</h3> <p>602 Yaldhurst Road Rd 6<br /> Christchurch 7676<br /> New Zealand<br /> <br /> Website: <a href="http://www.advisorcorp.com.au">www.advisorcorp.com.au</a><br /> <br /> Published on this site July 2012</p> <h3>Alderman Associates Ltd</h3> <p>Arca Central Building<br /> 14F 1-2-1 Kinshi Sumida-ku, 1300031<br /> Tokyo<br /> JAPAN</p> <p>Phone: +81 3 4520 9536<br /> Fax: +81 3 6385 7599<br /> E-mail: info@aldermanassociatesltd.com<br /> Website: www.aldermanassocitesltd.com</p> <p>Associated individuals: John Davis, Elizabeth Dole, Jamie Glanfield, Terry Staley, Steven Ong</p> <p>Published on this site January 2010</p> <h3>Alpha REIT Advisors Co., Ltd</h3> <p>1-9-20, Akasaka<br /> Minato-ku<br /> Tokyo, 107-0052<br /> Japan</p> <p>Phone: + 8150 5539 8517<br /> Fax: + 813 5501 9694<br /> Website: www.alphareitadvisors.com<br /> Email: contact@alphareitadvisors.com</p> <p>Published on this site March 2010</p> <h3>American Financial Group</h3> <p>Ten G Street<br /> NE 6th Floor<br /> Washington DC 20002<br /> USA</p> <p>Phone: 852 1904 4132 also used is 1 800 2020 227<br /> Website: www.amfigroup.com<br /> Email: info@amfigroup.com</p> <p>Associated individuals: Stephen O. Smith, Brandon Robertson, James Lander</p> <p>Published on this site September 2011</p> <h3>Anderson Tate</h3> <p>4107 Emerald Street<br /> Boise<br /> Idaho 83706<br /> UNITED STATES OF AMERICA</p> <p>Published on this site January 2004</p> <h3>Anova Corporate Services</h3> <p>222 Yanan Road East<br /> Shanghai<br /> CHINA 200002</p> <p>Associated individual: Stuart Lucas</p> <p>Published on this site July 2004</p> <h3>Apple Investment Company Pty Ltd.</h3> <p>Level 13, 50 Cavill Avenue<br /> Surfers Paradise<br /> Gold Coast, QLD 4217<br /> AUSTRALIA</p> <p>Phone: +617 55 534 139<br /> Fax: +617 55 383 390<br /> Email: info@appleinvestmentcompany.com.au<br /> www.appleinvestmentcompany.com.au</p> <p>Published on this site October 2010</p> <h3>Apple Investment Company Ltd.</h3> <p>Level 11, 48 Wall Street<br /> New York<br /> NY, 10005<br /> UNITED STATES OF AMERICA</p> <p>Phone: +212 918 4952<br /> Fax: +212 918 4801<br /> Email: info@appleinvestmentcompany.com<br /> www.appleinvestmentcompany.com</p> <p>Published on this site October 2010</p> <h3>Arawack Portfolio Management Inc</h3> <p>Sunlife Plaza, 144 - 4th Avenue SW<br /> Ste. 3600<br /> West Tower<br /> Calgary, AB T2P 3N4<br /> CANADA</p> <p>Published on this site October 2005</p> <h3>Argus Capital Investment Corporation</h3> <p>Postbus 59366<br /> 1040 KJ Amsterdam<br /> THE NETHERLANDS</p> <p>Associated individual: Ted Davies</p> <p>Published on this site August 2001</p> <h3>Asia Pacific Advisors Ltd</h3> <p>24 Fl Pu Fa Tower<br /> 588 Pudong South Road<br /> Pudong<br /> Shanghai 2001200<br /> CHINA</p> <p>Phone: +86 21 3126 9109<br /> Fax: +86 21 5107 9311<br /> E-mail: noreply@asiapacificadvisors.com<br /> Website: www.asiapacificadvisors.com</p> <p>Associated individuals: Richard Kingman, Samuel Wong</p> <p>Published on this site August 2001</p> <h3>Associated Financial Services</h3> <p>118 Broadway<br /> Fargo<br /> ND 58102<br /> 40 Exchange Place, New York, NY 10005</p> <p>Not to be confused with the genuine: Associated Financial Services, Inc, 118 Broadway, Suite 504 (BLACK BLDG) PO Box 2163, FARGO ND 58102 USA Tel: +1-701-293-9434</p> <p>Published on this site June 2008</p> <h3>Atlantic International Partners</h3> <p>01-03 Ocean Building<br /> 10 Collyer Quay<br /> SINGAPORE 49315</p> <p>Published on this site May 2005</p> <h3>Atlantis Mergers &amp; Acquisition Group, Inc.</h3> <p>J P Morgan International Plaza<br /> Suite 1500<br /> 14221 Dallas Parkaway<br /> Dallas<br /> Texas 75254<br /> UNITED STATES OF AMERICA</p> <p>Published on this site December 2005</p> <h2 id="b">B</h2> <h3>Baros Corporation</h3> <p>2857 NW 78 Avenue<br /> Miami<br /> Florida<br /> UNITED STATES OF AMERICA</p> <p>Published on this site November 2004</p> <h3>Baxter Financial Group Inc</h3> <p>1040 Avenue of the Americas<br /> 24th Floor<br /> New York<br /> NY 10018<br /> UNITED STATES OF AMERICA</p> <p>Published on this site April 2004</p> <h3>Baycorp International Mergers &amp; Acquisitions</h3> <p>9 Bei San Huan Dong Lu<br /> Chao Yang District<br /> Beijing 100029<br /> CHINA</p> <p>Published on this site August 2007</p> <h3>Beacon Capital Management</h3> <p>70 Kimberly Road<br /> HONG KONG</p> <p>(Beacon Capital Management, Hong Kong should not be confused with Beacon Capital Markets, LLC, UNITED STATES OF AMERICA or Beacon Capital Management Advisors, UNITED STATES OF AMERICA)</p> <p>Published on this site October 2005</p> <h3>Beijing International Research Mergers and Acquisitions</h3> <p>3/F Building B<br /> E-Wing Center<br /> 113 Zhichun Rd<br /> Haidan District<br /> Beijing 100086<br /> CHINA</p> <p>Published on this site June 2006</p> <h3>Bell International Asset Management</h3> <p>12020 Shamrock Plaza<br /> Omaha, Nebraska 68154-3537<br /> UNITED STATES OF AMERICA</p> <p>Published on this site May 2005</p> <h3>Benson Dupont Capital Management Inc</h3> <p>14th Floor, Kamiya-cho Mori Bldg<br /> 4-3-20 Toranomon<br /> Minato, Tokio<br /> JAPAN</p> <p>Published on this site August 2001</p> <h3>Benson Dupont</h3> <p>Level 23, CP Tower<br /> 313 Silom Road<br /> Bangkok 10500<br /> THAILAND</p> <p>Associated individuals: Steve Wilson and Keith Nochman</p> <p>Published on this site August 2000</p> <h3>Bentley Moore &amp; Daines Sterling Strategies Group Limited</h3> <p>18 Avenue Louis-Casai<br /> Geneva 28<br /> 1211<br /> SWITZERLAND</p> <p>Published on this site November 2003</p> <h3>Berchmans Lee Company Inc</h3> <p>1410 Herrera Tower<br /> Herrera Street<br /> Salcedo Village<br /> Makati<br /> Manila<br /> PHILIPPINES</p> <p>Associated individual: Chris Carter</p> <p>Published on this site September 2000</p> <h3>Berger Aron Macey</h3> <p>Suite 2700, 1240 Peachtree Street NE<br /> Atlanta, GA 30309<br /> UNITED STATES OF AMERICA</p> <p>Published on this site June 2007</p> <h3>Berkely Financial</h3> <p>Associated individual: Harry Dean</p> <p>Published on this site November 2009</p> <h3>Bernard Kaplan</h3> <p>The Mercantile Exchange<br /> 30 South Wacker Drive, 22nd floor<br /> Chicago, Illinois 60606<br /> UNITED STATES OF AMERICA</p> <p>Published on this site June 2007</p> <h3>Bernstein &amp; Zeiglier</h3> <p>10 Anson Road<br /> # 18-18 International Plaza<br /> SINGAPORE 079903</p> <p>Associated individual: Henry Thornton</p> <p>Published on this site September 2002</p> <h3><a name="BioMedReports"></a>BioMedReports</h3> <p>C/-M. Media<br />1201 W. 5^{<span style="line-height: 115%; font-family: 'Calibri','sans-serif'; font-size: 11pt; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-ansi-language: EN-NZ; mso-fareast-language: EN-US; mso-bidi-language: AR-SA; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi;">th</span>} Street<br />Suite F-105<br />Los Angeles CA 90017<br />UNITED STATES OF AMERICA<br /><br />Email: <a href="mailto:support@biomedreports.com">support@biomedreports.com</a><br />&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a href="mailto:report@biomedreports.com">report@biomedreports.com</a><br />Website: <span style="line-height: 115%; font-family: 'Calibri','sans-serif'; font-size: 11pt; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-ansi-language: EN-NZ; mso-fareast-language: EN-US; mso-bidi-language: AR-SA; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi;"><a href="http://www.biomedreports.com">http://www.biomedreports.com</a></span><br /><br />Associated individual: M.E. Garza<br /><br />Published on this site June 2013</p> <h3>Bion, McConnan &amp; Associates LLB</h3> <p>141 757 West Hastings St<br /> Suite 800<br /> Vancouver B.C.<br /> CANADA</p> <p>Published on this site September 2002</p> <h3>BioMaxx Systems Inc.</h3> <p>Suite 1801<br /> 1 Yonge Street<br /> Toronto<br /> Ontario M5E 1WS<br /> CANADA</p> <p>Associated person: Ralph Bayer</p> <p>Published on this site December 2007</p> <h3>Boston Global Finance Inc.</h3> <p>Paragon Towers<br /> 233 Needham Street, suite 300<br /> Newton MA 02464<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: Jessica Tyler</p> <p>Published on this site July 2004</p> <h3>Bradford Kempner Investments Limited</h3> <p>Unit 1512, 15th Floor<br /> Q-House Asoke Building<br /> 66 Sukhumvit 21 Road<br /> Klongtoey Nua<br /> Wattana<br /> Bangkok 10110<br /> THAILAND</p> <p>Published on this site September 2001</p> <h3>Bradley, Chen &amp; Associates</h3> <p>HONG KONG</p> <p>Associated individual: David Lake</p> <p>Published on this site July 2004</p> <h3>Bremer Finance Ltd</h3> <p>Howard Hughes Center<br /> 6601 Center Drive, Suite 500<br /> Los Angeles, CA 90045<br /> USA</p> <p>Published on this site August 2007</p> <h3>Brooks Pearson Investment Limited</h3> <p>Wisma Danamon Aetna Life<br /> 19th Floor, Jalan Jondral Sudirtnan<br /> Kauling 45-46<br /> Jakarta 12930<br /> INDONESIA</p> <p>Published on this site July 2001</p> <h3>Brown &amp; Company Trading Inc</h3> <p>JAPAN</p> <p>Published on this site April 2007</p> <h3>Brown &amp; Burke Securities</h3> <p>339, La Salle St<br /> Chicago, IL 60605<br /> UNITED STATES OF AMERICA</p> <p>Published on this site May 2005</p> <h2 id="c">C</h2> <h3>Can Am Acquisitions Inc</h3> <p>ABC Center<br /> 500 North Michigan Ave<br /> Suite 300<br /> Chicago Illinois 60611<br /> UNITED STATES OF AMERICA</p> <p>Published on this site March 2005</p> <h3>Capital Assets Limited</h3> <p>Taipei Metro Building<br /> Suite D, 11/F<br /> No. 207 Tun Hwa South Road, Sec.2<br /> Taipei<br /> TAIWAN</p> <p>Associated individual: Robert Mason</p> <p>Published on this site March 2001</p> <h3>Capital Growth Equities S.L.</h3> <p>Apartado de Correos 1057<br /> 29600, Malaga<br /> SPAIN</p> <p>Published on this site December 2003</p> <h3>Capital Management Group</h3> <p>340 South Main Street<br /> New City<br /> NY 10956<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: Thomas White</p> <p>Published on this site November 2004</p> <h3>Capital Transfer Consolidated</h3> <p>410 Park Avenue<br /> New York, NY 10022<br /> UNITED STATES OF AMERICA</p> <p>Phone: + 1 212 359 1625<br /> Fax: + 1 212 918 3467<br /> website: www.capitalconsolidated.com<br /> e-mail: info@capitalconsolidated.com</p> <p>Associated individual: John Lewis</p> <p>Published on this site March 2009</p> <h3>Capitol Transfer</h3> <p>1121 West Park Ave<br /> Suite 100<br /> Los Angeles<br /> California 90021<br /> UNITED STATES OF AMERICA</p> <p>Phone: +1 206 338 2159</p> <p>Fax: +1 323 421 9366<br /> website: www.capitoltransfer.com<br /> e-mail: capitol@capitoltransfer.com</p> <p>Associated individuals: Frank Roth, William Johnson</p> <p>Published on this site March 2009</p> <h3>Castlepeak and Sons, Ltd</h3> <p>Blue Ash 11427 Reed Hartman Highway<br /> Cincinnati, OH 45241<br /> UNITED STATES OF AMERICA</p> <p>Published on this site November 2005</p> <h3>C &amp; C Global Co., Limited</h3> <p>17th Floor UBC II Building<br /> Soi Sukhumvit 33<br /> Bangkok<br /> THAILAND</p> <p>Published on this site September 2001</p> <h3>Central Capital Inc</h3> <p>387 Ivy Street<br /> San Francisco<br /> California<br /> UNITED STATES OF AMERICA</p> <p>New Bright Building<br /> 11 Sheung Yuet Road<br /> HONGKONG</p> <p>Published on this site November 2002</p> <h3>Century Capital Switzerland Limited</h3> <p>5 St John's Lane<br /> UK - ECIM4BH<br /> Phone: +44 20 7549 1668<br /> Fax: +44 20 7549 1669</p> <p>Administrative Office<br /> Vanderpool Plaza<br /> Wickhams City 1<br /> PO Box 873<br /> Road Town<br /> BVI</p> <p>Public relations<br /> 15 East 57th Street<br /> New York, NY 10022<br /> UNITED STATES OF AMERICA<br /> Phone: +1 646 452 4767<br /> Fax: +1 646 356 6938</p> <p>E-mail: info@centurycapitalltd.com<br /> website: www.centurycapitalltd.com</p> <p>Associated individuals: James Hayden, Garry Alexander, Michael Dundas</p> <p>Published on this site November 2006 (updated September 2008)</p> <h3>Century Group M &amp; A</h3> <p>12604 Pacific Street<br /> Omaha - NE -68154<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: Eric Cairns</p> <p>Published on this site July 2004</p> <h3><strong><a id="Century Savings and Trust Ltd /Century Bancorp Limited (formerly)" name="Century Savings and Trust Ltd /Century Bancorp Limited (formerly)"></a> Century Savings and Trust Ltd /Century Bancorp Limited (formerly)</strong></h3> <p>188 Quay Street<br /> Auckland 1010<br /> New Zealand<br /> <br /> Phone: (64) 9 363 2918<br /> Email: <a href="mailto:info@cenbancorp.net">info@cenbancorp.net</a><br /> Website: <a href="http://www.cenbancorp.net/">www.cenbancorp.net/</a><br /> <br /> Published on this site July 2012</p> <h3>Chabert Asset Management</h3> <p>Superior East Avenue<br /> Suite 1300 Cleveland<br /> Ohio 44114<br /> UNITED STATES OF AMERICA</p> <p>Published on this site November 2005</p> <h3>Chase Capital Inc.</h3> <p>405 Lexington Avenue<br /> Chrysler Building<br /> New York City<br /> NY 10174<br /> UNITED STATES OF AMERICA</p> <p>Published on this site February 2007</p> <h3>Cheoy Lee Asset Management Asia</h3> <p>Hong Kong Office:<br /> Level 25, 1 Garden Road - China Tower<br /> HONG KONG</p> <p>Belgium Office:<br /> 106 Avenue Louise<br /> Brussels 1050<br /> BELGIUM</p> <p>U.S. Office:<br /> 225 Bush Street<br /> San Francisco CA 94104<br /> UNITED STATES OF AMERICA</p> <p>Published on this site October 2005</p> <h3>Chicago Accounting</h3> <p>235 W Cermak Road<br /> Chicago IL 60616<br /> UNITED STATES OF AMERICA</p> <p>Published on this site October 2005</p> <h3>Chicago Board of Acquisition Inc</h3> <p>5801 South Ellis Ave<br /> Chicago<br /> Illinois, 60637<br /> UNITED STATES OF AMERICA</p> <p>Published on this site January 2004</p> <h3>Citiexchange Group</h3> <p>Level 12 Hibiya Central Building<br /> 1-2-9 Nishi Shimbashi Minato-Ku<br /> Tokyo, Japan</p> <p>Associated individual: Angela Roberts</p> <p>Published on this site June 2005</p> <h3>CitiFund Asset Management, Inc.</h3> <p>399 Park Avenue<br /> 8th Floor New York<br /> New York<br /> UNITED STATES OF AMERICA</p> <p>This firm is not associated with any legitimate businesses conducted by Citigroup or Citibank, some of which have offices at 399 Park Avenue in New York.</p> <p>Published on this site October 2007</p> <h3>Clanvale Securities S.A.</h3> <p>Edificio Torre America<br /> Floor 3 Office 307<br /> Avenida Venezeula<br /> Bello Monte<br /> Caracas<br /> VENEZUELA</p> <p>Edificio Paladium<br /> Oficina 5F<br /> 4 Avenida 15-70 Zona 10<br /> Guatemala City<br /> GUATEMALA C.A. 01010</p> <p>Associated individuals: Lance Ramsey, John Sparks, Charles Blundell</p> <p>Published on this site November 2001 &amp; March 2003</p> <h3>Clarkson Gordon Limited</h3> <p>Daliana Court<br /> 5 Chytron Street<br /> 2nd Floor, Office 21<br /> 1075 Nicosia<br /> CYPRUS</p> <p>Associated individuals: Bernard Owens, George Scott</p> <p>Published on this site September 2003</p> <h3>Classic Consultants</h3> <p>5419 Hollywood Boulevard<br /> Suite C-206<br /> Los Angeles<br /> CA 90027<br /> UNITED STATES OF AMERICA</p> <p>Associated individuals: Jack Quinn and Mark Johnson</p> <p>Published on this site July 2005</p> <h3>Classic Gaming</h3> <p>415 North Camden Drive<br /> Beverly Hills<br /> CA 90210<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: Andrew Kennedy</p> <p>Published on this site July 2005</p> <h3>Clover Mergers &amp; Acquisitions</h3> <p>United States Office<br /> South 700 East, South Salt Lake<br /> Salt Lake City<br /> UT 84107<br /> UNITED STATES OF AMERICA</p> <p>Published on this site November 2006</p> <h3>Cohen Nesbit Group Limited</h3> <p>Level 19 Hong Leong Building<br /> 16 Raffles Quay<br /> SINGAPORE</p> <p>Published on this site September 2001</p> <h3>Colony Capital &amp; Associates</h3> <p>20th Floor Marunouchi Building<br /> 2-4-1 Marunouchi<br /> Chiyoda-ku<br /> Tokyo 100-6332<br /> JAPAN</p> <p>Phone: +813 6688 7243<br /> Fax: +813 4496 4202<br /> E-mail: info@colonycapitalassoc.net<br /> website: colonycapitalassoc.net</p> <p>Associated individuals: Tom Clairmont (VIP Acquisitions Dept.), Kim Glodenberg (Authorised signatory)</p> <p>Published on this site November 2007</p> <h3>Commodities Futures Trading Authority Ltd</h3> <p>237 Tenth Avenue<br /> New York, NY 10018<br /> USA</p> <p>Email: info@cftaltd.com<br /> Website: www.cftaltd.com</p> <p>Associated individual: Christopher Lopez</p> <p>Published on this site September 2011</p> <h3>Compass-Asset Management</h3> <p>SWITZERLAND</p> <p>The Compass Asset Management listed here has stolen the identity of a legitimate firm in Switzerland. The legitimate Compass Asset Management can be contacted by phone +41 91 9603983 or by fax on +41 91 960 3979.</p> <p>Published on this site April 2006</p> <h3>Comtrade Group Pty Ltd</h3> <p>48 Cavill Avenue<br /> Surfers paradise<br /> Queensland, 4217<br /> AUSTRALIA</p> <p>Phone: +61 300 216 143<br /> Fax: + 61 300 216 537<br /> E-mail: info@comtrade-group.com<br /> website: www.comtrade-group.com</p> <p>Associated individuals: Tony Davis, Matt Shannon</p> <p>Published on this site January 2011</p> <h3>Consolidated Transfer Inc.</h3> <p>33 Hysan Avenue<br /> HONG KONG</p> <p>Published on this site May 2007</p> <h3>Concorde Pacific Management Inc.</h3> <p>Madrona Plaza Building<br /> 1305, 34th Avenue<br /> Seattle, WA 98122<br /> UNITED STATES OF AMERICA</p> <p>Published on this site April 2007</p> <h3>Cooper Kline NYC</h3> <p>180 Malden Lane<br /> New York<br /> UNITED STATES OF AMERICA</p> <p>Associated individuals:<br /> Drew Richards E-mail: drew_richards@cooperklinenyc.com<br /> Jonathan Smith E-mail: jonathan.smithcaptranfer@gmail.com</p> <p>Published on this site August 2008</p> <h3>Continental Allied Incorporated</h3> <p>30 Queen's Road<br /> HONG KONG</p> <p>Published on this site April 2005</p> <h3>Corporate Mergers and Acquisitions Group</h3> <p>535 Madison Avenue<br /> Suite 300<br /> New York, NY10022<br /> UNITED STATES OF AMERICA</p> <p>Phone: +1 646 810 8666<br /> Fax: +1 347 223 5234<br /> E-mail: info@corporatemagroup.com</p> <p>Published on this site October 2010</p> <h3>Crawford Peale</h3> <p>Unit 1609<br /> 16th Floor, Vaint 1 Building<br /> 1126/1 New Petchburi Road<br /> Bangkok 10400<br /> THAILAND</p> <p>Published on this site September 2001</p> <h3>Crest Asset Management</h3> <p>21 Science Park<br /> #06-07 The Aquarius<br /> Singapore, 117628</p> <p>Published on this site July 2008</p> <h3>Crest International Investment Inc</h3> <p>First West Building<br /> 200 First Avenue West Suite 400<br /> Seattle<br /> Washington 98119<br /> UNITED STATES OF AMERICA</p> <p>Published on this site February 2005</p> <h3>Crown Capital Corporation</h3> <p>6 Sheraton St<br /> Soho<br /> LONDON<br /> UK W1F 8BH</p> <p>Published on this site June 2006</p> <h2 id="d">D</h2> <h3>Davis Goldberg Group</h3> <p>782 NW 42nd Avenue<br /> Miami<br /> FL 33135<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: Mark Hughes</p> <p>Published on this site May 2004</p> <h3>Dawson Turner</h3> <p>Two Penn Centre Plaza<br /> Philadelphia, PA 19102-1706<br /> UNITED STATES OF AMERICA</p> <p>Published on this site February 2004</p> <h3>De Verre Lloyd &amp; Co</h3> <p>15th Floor, Cerulean Tower<br /> 26-1 Sakuragaoka-cho<br /> Shibuya-ku<br /> Tokyo 150-8512<br /> JAPAN</p> <p>Associated individual: Ian Walsh</p> <p>Published on this site July 2004</p> <h3>Deacons Lasalle</h3> <p>London<br /> UNITED KINGDOM</p> <p>Published on this site March 2007</p> <h3>Dearborn International</h3> <p>719 Griswold Street<br /> Detroit<br /> Michigan 48226<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: Gerry Markham</p> <p>Published on this site November 2004</p> <h3>Dempster Hampton Duke</h3> <p>26th floor<br /> The Chrysler Building<br /> 405 Lexington Avenue<br /> New York City<br /> NY10174<br /> UNITED STATES OF AMERICA</p> <p>Published on this site October 2005</p> <h3><a id="Department of Securities Trading" name="Department of Securities Trading"></a>Department of Securities Trading</h3> <p>745 19^th Street Northwest, Washington, DC 20431<br /> Phone: +1 202 600 4504<br /> Fax: +1 202 403 3957<br /> E-mail: robert.young@depst.us<br /> <br /> Published on this site August 2012</p> <h3>Diligent Solutions</h3> <p>19 Hennessey Road<br /> Wanchai<br /> HONG KONG</p> <p>Published on this site June 2006</p> <h3>Diversified Global Capital Group</h3> <p>2121 E. Pacific Coast Highway<br /> Corona Del Mar, California<br /> UNITED STATES OF AMERICA</p> <p>Diversified Global Capital Group is fraudulently using the name and address of Diversified Global Capital Group, Inc. which is a legitimate corporation in United States of America.</p> <p>Published on this site April 2007</p> <h3>Diversified Investments Group</h3> <p>Diversified Investments Group is fraudulently using the name of Diversified Investments Group Inc. which was a legitimate firm in United States of America. The legitimate Diversified Investments Group Inc. terminated registration on 2 October 2006.</p> <p>Published on this site October 2007</p> <h3>DKM Global Management Inc</h3> <p>1 Lan Kwai Fong<br /> HONG KONG</p> <p>Published on this site November 2003</p> <h3>Donaldson and Turner</h3> <p>30N. La Salle Street, #2800A<br /> Chicago, IL 60602-3349<br /> USA</p> <p>Tel: +1 312 957 6007<br /> Fax: +1 312 275 7666<br /> Email: info@donaldsonandturner.com<br /> Website: www.donaldsonandturner.com</p> <p>Published on this site May 2011</p> <h3>Douglas Baker &amp; Co.</h3> <p>800-615 West Broadway Ave.<br /> Vancouver, BC<br /> CANADA</p> <p>Associated individual: Richard Mason</p> <p>Published on this site January 2004</p> <h3>Dragon Pacific Company Limited</h3> <p>17th Floor, One Pacific Place<br /> 140 Sukhumvit Road<br /> Bangkok<br /> THAILAND</p> <p>Associated individual: Douglas King</p> <p>Published on this site August 2000</p> <h3>Drake Asset Management</h3> <p>1991 Crocker Road<br /> Cleveland, OH 44145<br /> UNITED STATES OF AMERICA</p> <p>Published on this site May 2005</p> <h3>Dreyfus Securities Limited</h3> <p>14/F Kamiya-cho Mori Building<br /> 4-3-20 Toranomon, Minato-ku<br /> Tokyo 105-0001,<br /> JAPAN</p> <p>Amnuaydech Suite 048<br /> 22 Central Chidlom Tower<br /> Polenchit Road, Lumpini<br /> Pathumwan, Bangkok 10330<br /> THAILAND</p> <p>29/F One Canada Square<br /> Canary Wharf, London<br /> UNITED KINGDOM, E14 5DY</p> <p>Associated individual: Steven Dixon</p> <p>Published on this site July 2001</p> <h3>Dukes and Company Securities Corporation</h3> <p>Unit 1009<br /> PSBank Tower<br /> Senator Gil J<br /> Puyat Avenue<br /> Makati City 1220<br /> PHILIPPINES</p> <p>Constitution Drive<br /> PO Box 332<br /> Belmopan<br /> BELIZE</p> <p>Associated individuals: Michael Martin, Ben Smit</p> <p>Published on this site September 2000</p> <h3>Dune Dawson Inc.</h3> <p>The Lincoln Building<br /> 305 Madison Ave, Suite 439<br /> New York<br /> UNITED STATES OF AMERICA</p> <p>Associated Individual: Chad Robinson</p> <p>Published on this site June 2005</p> <h2 id="e">E</h2> <h3><a name="E1AssetManagementInc"></a>E1 Asset Management, Inc.</h3> <p>44 Wall Street, 9th Floor<br />New York, NY 10005<br /><br />Website: <span style="font-family: 'Calibri','sans-serif'; font-size: 11pt; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-ansi-language: EN-NZ; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><a href="http://www.e1am.com/">http://www.e1am.com/</a></span><br /><br />Published on this site May 2013</p> <h3>Elders Cohen</h3> <p>Hills Plaza 1<br /> 345 Spear Street, Suite 138<br /> San Francisco<br /> California<br /> CA94105<br /> UNITED STATES OF AMERICA</p> <p>Associated individuals: Steve Thomas, Michael Sands</p> <p>Published on this site September 2003</p> <h3>Eli Solomon</h3> <p>580 Madison Avenue<br /> New York City<br /> New York 10022<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: Andrew Forster</p> <p>Published on this site November 2007</p> <h3>Eno Capital Ltd</h3> <p>Level 9 AIG Building<br /> 1-1-3 Marunouchi<br /> Chiyoda-ku<br /> Tokyo 100-0005<br /> JAPAN</p> <p>Published on this site October 2005</p> <h3>EquiAsia Group Limited</h3> <p>Level 28, Shinagawa Intercity Building, Tower A<br /> 2-15-1 Konan, Minato-Ku<br /> Tokyo 108-6028<br /> JAPAN</p> <p>Phone: +813 6717 4321<br /> Fax: +813 6717 4341<br /> E-mail: tokyo@equiasiagroup.net, kualalumpur@equiasiagroup.net, shanghai@equiasiagroup.net<br /> Website: www.equiasiagroup.net</p> <p>Associated individuals: Stephen Bench, K Sharpe, W Harris, Charles Anthony, Richard Steller</p> <p>Working in conjunction with Janco Lazard Transfer Company and Weiss Rifkin &amp; Partners</p> <p>Published on this site June 2008 (Updated November 2009 and May 2011)</p> <h3>Equinox Equities</h3> <p>19 Des Voeux Road<br /> HONG KONG</p> <p>Published on this site September 2005</p> <h3>Equiserve Trust Capital Market</h3> <p>423 Walpole Ter Canton<br /> MA 02021<br /> UNITED STATES OF AMERICA</p> <p>Published on this site December 2005</p> <h3>European Private Equity Group</h3> <p>Grosse Bockenheimer 13<br /> Suite 2160<br /> 60313 Frankfurt<br /> Am Main<br /> GERMANY</p> <p>Published on this site September 2005</p> <h3>Evans and Stern Corporation</h3> <p>website: www.evansandstern.com<br /> E-mail: info@evannsandstern.com</p> <p>Associated Individual: Kevin Lomax</p> <h2 id="f">F</h2> <h3>Factor Ten Financial</h3> <p>30th Floor, Central Plaza<br /> 18 Harbour Road<br /> HONG KONG</p> <p>Published on this site February 2006</p> <h3>Fairchild Roth Financial Inc</h3> <p>Gallery 4<br /> 12 Leadenhall Street<br /> London EC3V 1LP<br /> UNITED KINGDOM</p> <p>Published on this site November 2003</p> <h3>Famex Financial</h3> <p>9/F Henan Building<br /> 17-19 Luard Road<br /> Wanchai, CBD District<br /> HONG KONG</p> <p>Phone +852 3180 7888<br /> Fax +852 3180 7899<br /> Email info@famexfinancial.com<br /> Website www.famexfinancial.com</p> <p>Associated individual John White</p> <p>This firm must not be confused with Famex Financial who have the same address and website but different phone and fax details. The legitimate Famex Financial can be contacted by phone +852 3180 7844 or by fax on +852 3180 7874.</p> <p>Published on this site February 2010</p> <h3>Federal Equities Corporation</h3> <p>51 Madison Avenue<br /> New York, NY 1001<br /> UNITED STATES OF AMERICA</p> <p>Phone: +1 646 360 1718<br /> Email: info@federalequitiescorp.com<br /> Website: www.federalequitiescorp.com</p> <p>Associated individuals: James Fries, John Ognar</p> <p>Published on this site June 2010</p> <h3>Financial Assets Corporation</h3> <p>30 Wall Street<br /> Suite 1203<br /> New York, NY 10005<br /> UNITED STATES OF AMERICA</p> <p>Published on this site October 2005</p> <h3>First Capital Securities Limited</h3> <p>P O Box 847<br /> 1 Capital Place<br /> Georgetown<br /> Grand Cayman<br /> CAYMAN ISLANDS</p> <p>Published on this site January 2004</p> <h3>First Colonial Management</h3> <p>17 Ensign House, Admirals Way<br /> London E14 9XQ</p> <p>Associate individual: Kent Daniels</p> <p>Published on this site June 2005</p> <h3>First Financial Management</h3> <p>255 W 36th Street<br /> New York, NY 10018-7798<br /> USA</p> <p>Phone: +1 646 351 1282<br /> Fax: +1 646 961 4811<br /> Email: info@firstfinancialmgmt.com<br /> Website: www.firstfinancialmgmt.com</p> <p>Associated individuals: Rob Jacob, John Lewis, Kris Reynolds, Ashley Waters</p> <p>Published on this site September 2010</p> <h3>First Independent Capital Resources, Inc</h3> <p>Shiroyuma JT Movi Building<br /> 8-1 Toranoman 4 Chome<br /> Minato-Ku, Tokyo 105<br /> JAPAN</p> <p>Published on this site September 2002</p> <h3>First Independent Resource Management Group Inc</h3> <p>4, V.S. Prospero<br /> Milano<br /> ITALY</p> <p>Published on this site September 2001</p> <h3>First International Equity &amp; Acquisition Inc</h3> <p>654 Madison Avenue<br /> New York<br /> NY 10021<br /> UNITED STATES OF AMERICA</p> <p>Published on this site April 2004</p> <h3>First International Equity Inc.</h3> <p>UNITED STATES OF AMERICA</p> <p>Associated individual: James C. King</p> <p>Published on this site March 2003</p> <h3>First National Financial Group Inc</h3> <p>Empire State Building<br /> 350 6th Avenue Suite 3304<br /> New York<br /> NY 10118<br /> UNITED STATES OF AMERICA</p> <p>46th Floor<br /> 140 Broadway<br /> New York<br /> NY 10005</p> <p>Published on this site November 2003</p> <h3>First National Reliance Incorporated</h3> <p>300 5th Avenue<br /> New York, NY 10001<br /> UNITED STATES OF AMERICA</p> <p>Tel: +1 212 542 9166<br /> Email: legal@firstnationalreliance.com<br /> Website: www.firstnationalreliance.com</p> <p>Associated individuals: John Marshall Robert M. Pellecchia James Henry Johnson Doug Kramer</p> <p>Published on this site: October 2010</p> <h3>Financial Marketing</h3> <p>35/F Central Plaza<br /> 18 Harbour Road<br /> Wanchai<br /> HONG KONG</p> <p>Phone: +852 3051 9888/ 852 3973 3983<br /> Fax: +852 3006 4252<br /> Email: info@fusionfinancialmarketing.com<br /> Web: www.fusionfinancialmarketing.com</p> <h3>First Standard Consolidated</h3> <p>326 Regent Street<br /> London, UK W1B 3HH</p> <p>Phone: +4419 2421 7168 / +4484 5130 8710<br /> Fax: +4418 9280 0012 / +4419 2420 0581<br /> Website: www.firststandardcsld.com<br /> Email: info@firststandardcsld.com</p> <p>Associated individuals: Ted Simms</p> <p>Published on this site March 2010</p> <h3>Fisher Sterling International Limited</h3> <p>302 Hung Kei Mansion<br /> 5-8 Queen Victoria Street Central<br /> HONG KONG</p> <p>Associated individual: Dave Adams</p> <p>Published on this site September 2001</p> <h3>Flagship Consolidated</h3> <p>663 King's Road<br /> HONG KONG</p> <p>Phone: +852 3693 1523<br /> Fax: +852 3015 8912<br /> E-mail: info@flagshipcsld.com<br /> website: www.flagshipcsld.com</p> <p>Associated individual: Jack Perez</p> <p>Published on this site February 2009</p> <h3>Fleetwood Mergers and Acquisitions</h3> <p>2500 City West Blvd<br /> Houston<br /> TX 77042-3000<br /> UNITED STATES OF AMERICA</p> <p>Published on this site October 2006</p> <h3>Foreign Currency International</h3> <p>27 Sukhumvit Soi 20<br /> Bangkok, 10110<br /> THAILAND</p> <p>Associated individual: Stephen Sharpe</p> <p>Published on this site December 2000</p> <h3>Foreign Trade International</h3> <p>12th Floor<br /> 253 Sukhumvit Soi<br /> 21 Asoke Road<br /> Bangkok 10110<br /> THAILAND</p> <p>Associated individuals: Ian Morris, Christian Webb, Michael Lumby, Alex Pagan, Dennis Askew.</p> <p>Published on this site August 2001</p> <h3>FourWinds Trading Systems</h3> <p>Drake Chambers, Road Town<br /> Tortola<br /> PO Box 3321<br /> BRITISH VIRGIN ISLANDS</p> <p>Associated individual: Scott Mullens</p> <p>Published on this site July 2004</p> <h3>Fund Investors Inc.</h3> <p>Fund Investors Inc.<br /> 10 King Street<br /> White Plains<br /> NY 10604<br /> USA</p> <p>Tel: + 1 914 214 5303<br /> Fax: + 1 914 462 3783<br /> Email: info@fundinvestorsincllc.com<br /> Website: www.fundinvestorsincllc.com</p> <p>Associated individual: Allan Gates.</p> <p>Note: not to be confused with the genuine firm</p> <p>Published on this site March 2011</p> <h3>Fusion Financial Marketing</h3> <p>35/F Central Plaza<br /> 18 Harbour Road<br /> Wanchai<br /> HONG KONG</p> <p>Phone: +852 3051 9888/ 852 3973 3983<br /> Fax: +852 3006 4252<br /> Email: info@fusionfinancialmarketing.com<br /> Web: www.fusionfinancialmarketing.com</p> <h3>FX Advisors East, LLC</h3> <p>200 Public Square Suite 2955<br /> Cleveland<br /> Ohio<br /> UNITED STATES OF AMERICA</p> <p>Published on this site August 2001</p> <h2 id="g">G</h2> <h3>Gaylord &amp; Finch</h3> <p>400 Broadway<br /> Seattle<br /> Washington<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: Peter Williams</p> <p>Published on this site September 2002</p> <h3>Gilt Edged Equities</h3> <p>Fax: +1 212 8133254</p> <p>Associated individual: Jeffrey Muller</p> <p>Not to be confused with the genuine firm and individual, Gilt-Edged Equities, LLC which has no retail customers.</p> <p>Also associated with Gilt Edged Equities are:</p> <ul> <li>Global Transfer Corporation</li> <li>First Standard Consolidated</li> <li>Hobdell and Williamson</li> <li>Alpha REIT Advisors Co. Ltd</li> </ul> <p>Published on this site March 2010</p> <h3>Glendale Settlements Incorporated</h3> <p>Motion Picture Association Building<br /> 888 16th Street NW<br /> Suite 800<br /> Washington DC 20006<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: James Shea</p> <p>Published on this site July 2005</p> <h3>Global Asset Advisors S.A.</h3> <p>(purportedly operating from Spain)</p> <p>Associated individual: Marc Dannenberg</p> <p>Published on this site April 2003</p> <h3>Global Capital Securities Corporation</h3> <p>538 Broad Hollow Road<br /> Suite 315E<br /> Melville<br /> New York<br /> UNITED STATES OF AMERICA</p> <p>Associated individuals: Christopher Ferruzza, James Sparacino</p> <p>Published on this site April 2001</p> <h3>Global Option Trading Co Limited</h3> <p>14th Floor<br /> 253 Sukhumvit Soy 21, Asoke Rd<br /> Bangkok 10110<br /> THAILAND</p> <p>Associated individuals: Jamie Nettleship, Callum Hunt</p> <p>Published on this site October 2001</p> <h3>Global Select Portfolio Corp.</h3> <p>Carson City, Nevada<br /> UNITED STATES OF AMERICA<br /> Phone: 702 430 1791,<br /> in London - Amsterdam<br /> Phone: +44 2081 441097<br /> Fax:+44 208 0825839<br /> E-mail: david.benson@globalspc.net<br /> website: www.globalspcorp.com</p> <p>Associated individual: David Benson</p> <p>Published on this site November 2008</p> <h3>Global Transfer Corporation</h3> <p>66 Mody Road, Tsim Sha Tsui East<br /> Kowloon, Hong Kong</p> <p>Phone: +852 9046 2063<br /> Fax: +852 3051 8205/8<br /> Website: www.globaltransfercorp.com<br /> Email: info@globaltransfercorp.com</p> <p>Published on this site March 2010</p> <h3>Grand Capital Incorporated</h3> <p>250 West 57th Street,<br /> New York,<br /> New York 10107*<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: Kelly Campbell</p> <p>Grand Capital Incorporated is a fraudulent firm using the address of Grand Capital Corporation which is a legitimate corporation in United States of America.</p> <p>Published on this site August 2006</p> <h3>Granite Consolidated</h3> <p>22 Queen's Road<br /> Central<br /> Hong Kong</p> <p>Published on this site November 2007</p> <h3>Graves Stanley &amp; Peabody Limited</h3> <p>(latest activities are thought to be based in Spain)</p> <p>Associated individual: Richard Gaston</p> <h3>Greenfield &amp; Mato</h3> <p>Koraku Mori Bldg 9F<br /> 1-4-14 Koraku<br /> Bunkyo-Ku<br /> TOKYO</p> <p>Published on this site January 2007</p> <h3>Greater Advisory</h3> <p>Website: www.greateradvisory.com<br /> E-mail: info@greateradvisory.com<br /> Associated individuals: David Proctor, John Castro</p> <p>Published on this site February 2010</p> <h3>Gresham Management Inc</h3> <p>207 South 79th Street<br /> Suite 1006<br /> New York<br /> NY 10024<br /> UNITED STATES OF AMERICA</p> <p>Associated individuals: Edward Saunders, Martin Nelson, Cynthia Landsburg, Charles Hampton</p> <p>Published on this site September 2001</p> <h3>Greystone Asset Management</h3> <p>120 Broadway, Suite 1744<br /> New York, NY 10271<br /> USA<br /> Fax: 1 212 208 2496<br /> Email: info@greystoneassetmanagement.com<br /> Website: www.greystoneassetmanagement.com</p> <p>Associated individuals: Roger O. Elmer, Daniel J Hayes</p> <p>Not to be confused with the genuine firm which has no website:<br /> Greystone Asset Management, LLC<br /> 780 Third Avenue, 43rd Floor<br /> New York, NY 10017<br /> USA<br /> Telephone: 1 212-521-3817</p> <p>Published on this site August 2009</p> <h3>Griffin Mergers and Acquisitions Office</h3> <p>8th Street and Nicollet Mall, Downtown<br /> Minneapolis, MN 55402-8773<br /> UNITED STATES OF AMERICA</p> <p>Published on this site May 2007</p> <h3>Guaranty Consolidated</h3> <p>New York<br /> UNITED STATES OF AMERICA</p> <p>Published on this site July 2007</p> <h2 id="h">H</h2> <h3><a id="Halcyon Offshore Asset Management" name="Halcyon Offshore Asset Management"></a>Halcyon Offshore Asset Management</h3> <p>13/C-E Millennium City 5<br /> 418 Kwun Tong Road<br /> Hong Kong<br /> <br /> Tel Local. 81757833<br /> Tel. +61399980427<br /> <br /> Contact: Kenneth Wong<br /> Website: http://hoamhk.com/<br /> <br /> Published on this site February 2013<br /> <br /> <strong>Please note, this is not: Halcyon Offshore Asset Management LLC</strong><br /> <strong>https://www.halcyonllc.com/halcyon/web/me.get?web.home</strong></p> <h3>Hamilton &amp; Associates</h3> <p>Bahnhofstrasse<br /> 52 CH8001<br /> Zurich<br /> SWITZERLAND</p> <p>Associated individuals: Alexander Woodbridge, David A Smith, Michael Kennedy</p> <p>Published on this site October 2002</p> <h3>Hamilton Trading Limited</h3> <p>OBF Centre<br /> Aratha Graha Bldg 6th Floor<br /> JI Jend Sudiram Kav<br /> 52-53 Jakarta 12190<br /> INDONESIA</p> <p>Phone: +62 2152898454<br /> Fax: +62 2152898456<br /> E-mail: info@hamilton-trading.com<br /> Website: www.hamilton-trading.com</p> <p>Associated individuals: Brian Johnstone, Richmond Capital Management</p> <p>Published on this site November 2008</p> <h3>Hanworth Weir Ltd</h3> <p>Penthouse Level, Suntec Tower Three<br /> 8 Temasek Boulevard<br /> SINGAPORE</p> <p>Published on this site 04 June 2004</p> <h3>Harbour Capital Management</h3> <p>600 California St,<br /> 15 Floor<br /> San Francisco<br /> CA 94108<br /> UNITED STATES OF AMERICA</p> <p>Published on this site August 2006</p> <h3>Harbor Light Securities Inc</h3> <p>1093 Deep Woods Drive<br /> Marion, North Carolina 28752<br /> UNITED STATES OF AMERICA</p> <p>Phone: +1 828 527 0244<br /> Fax: +1 877 426 8220<br /> Email: info@harborlightsecinc.com<br /> Website: www.harborlightsecinc.com</p> <p>Associated individuals: Anita Baker, James Bradley, Dereck Hanson, Mark Mendoza</p> <p>NOT TO BE CONFUSED WITH THE GENUINE COMPANY:</p> <p>Harbor Light Securities LLC<br /> 1039 Deep Woods Drive<br /> Marion, North Carolina 28752<br /> UNITED STATES OF AMERICA<br /> Phone: +1 828 442 2765</p> <p>Published on this site September 2010</p> <h3>Harris Atlantic Management Inc</h3> <p>Suite 300-301 Paragon Towers<br /> 233 Needham, Newton MA 02464<br /> UNITED STATES OF AMERICA</p> <p>Published on this site March 2005</p> <h3>Harrison Lee Partners</h3> <p>2 Priestley Road<br /> Basingstoke, Hampshire<br /> ENGLAND RG24 9NP</p> <p>82 Winglok Street<br /> HONG KONG</p> <p>Associated individuals: Charles McKenzie, UNITED STATES OF AMERICA West, Rock Group Co</p> <p>Published on this site July 2004, March 2005</p> <h3>Hartford Capital Management, S.A</h3> <p>Panama<br /> Calle Eusebio A. Morales<br /> Suite 1 - A, # E1 Cangrejo<br /> Ciudad De Panama<br /> REPUBLICA DE PANAMA</p> <p>Costa Rica<br /> Edificio Ortencia Ler Piso<br /> 1 Caudra al Sur 200 Este de MacDonald's<br /> Sabana Sur, San Jose,<br /> COSTA RICA&lt;</p> <p>Published on this site December 2005</p> <h3>Heinz Hokkaido International</h3> <p>1585 Broadway<br /> New York<br /> NY 10016<br /> UNITED STATES OF AMERICA<br /> website: www.heinzhokkaido.net</p> <p>Published on this site August 2008</p> <h3>Helvetica Trust &amp; Fiduciary Group</h3> <p>Bahnhofstrasse 71<br /> Surich 8001<br /> SWITZERLAND</p> <p>Associated individual: Gerald Mulrine</p> <p>Published on this site September 2002</p> <h3>Heritage Financial Inc</h3> <p>103 Franklin Corner Road<br /> Trenton<br /> New Jersey 08648<br /> UNITED STATES OF AMERICA</p> <p>Published on this site March 2005</p> <h3>Heritage Mergers &amp; Acquisitions</h3> <p>Kamiyacho Mt Building<br /> 14th Floor, 4-3-20 Toranomon<br /> Minato-ku<br /> Tokyo 105-0001<br /> JAPAN</p> <p>Published on this site February 2006</p> <h3>Hing and Foster Partners</h3> <p>30 Cecil Street<br /> SINGAPORE 049712</p> <p>Published on this site October 2005</p> <h3>Hobdell and Williamson</h3> <p>2496/2494 Sand Hill Road, Suite 132<br /> Menlo Park, California 94025<br /> UNITED STATES OF AMERICA</p> <p>Phone: +1 650 963 5727 / +1 650-763-8061<br /> Fax: +1 650 240 3913<br /> Website: www.hobdellwilliamson.com<br /> Email: info@hobdellwilliamson.com</p> <p>Published on this site March 2010</p> <p>Associated individuals: Peter Gallagher, Graham Archer</p> <h3>JR Hoffman &amp; Associates</h3> <p>1 Place Ville Marie,<br /> 18th floor Montreal<br /> Quebec, H3B 2E7<br /> CANADA</p> <p>Published on this site June 2008</p> <h3>Hoover Deplache Investments Inc.</h3> <p>1500 Euclid Avenue,<br /> 730 Cleveland<br /> OH 4415<br /> UNITED STATES OF AMERICA</p> <p>Published on this site April 2006</p> <h3>Horizon Financial Management</h3> <p>11 Wilson Street<br /> Woolwich, London<br /> United Kingdom SE18 6 QQ</p> <p>Phone: 4420 3455 5001<br /> Fax: 4420 3355 4111<br /> Website: www.horizonfinancialmgmt.com<br /> Email: info@horizonfinancialmgmt.com<br /> <br /> Associated individual: John Carter</p> <p>Published on this site September 2011</p> <h3>Hudson International</h3> <p>Caracasbaaiweg 199<br /> PO Box 6050<br /> Curacao<br /> Netherlands Antilles<br /> WEST INDIES</p> <p>Room 2207<br /> 22/F, II Lippo Centre<br /> Central<br /> HONG KONG</p> <p>Associated individuals: Thomas Jenkins, Steven Billings, Jeffrey Kahn, Frank Edwards, Murray Skolsky.</p> <p>Published on this site September 2000</p> <h3>HVC - Hypo Venture Capital</h3> <p>Uraniastrasse 40<br /> Zurich, 8001<br /> SWITZERLAND</p> <p>Tel: + 41 350 016 736 / + 41 435 080 372<br /> Fax: + 41 447 326 623<br /> Email: info@hypovc.com<br /> Web: www.hypovc.com</p> <p>Associated individual: Charlotte Gruber</p> <p>Published on this site March 2011</p> <h2 id="i">I</h2> <h3><a id="IB Capital FX(NZ) LLP" name="IB Capital FX(NZ) LLP"></a>IB Capital FX(NZ) LLP</h3> <p>Ibcap Office,<br /> Level 5,<br /> 22 The Terrace,<br /> Wellington, 6011,<br /> Website: <a href="http://www.ibcaptial.co">www.ibcaptial.co</a><br /> <br /> This entity was registered on the Financial Service Providers Register but has been de-registered as it did not have a place of business in New Zealand.<br /> <br /> Published on this site November 2012</p> <h3>Interactive Taxation Consultants / Interactive Taxation Consultants Limited</h3> <p>New York Office<br /> Samson Building Level 8-22G<br /> 501 Fifth Avenue<br /> New York, NY 10017<br /> UNITED STATES OF AMERICA</p> <p>Phone: +1 212 359 1682<br /> Fax: +1 212 954 5088<br /> Website: www.taxationconsultants.com<br /> Email: info@taxationconsultants.com<br /> infor@interactivetaxationconsultants.com</p> <p>Tokyo Office<br /> AIG Building, Level 14 2-56<br /> 1-1-3 Maranuchi, Chiyoda-Ku<br /> Tokyo 100-0005<br /> JAPAN<br /> Phone: +81 345 500 562, +81 345 500 502<br /> Fax: +81 344 965 042</p> <p>Associated individuals:Peter Miller, Michael Rosen</p> <p>Published on this site April 2010</p> <h3>International Asset Management</h3> <p>CP Tower Level 23<br /> 313 Silom Road<br /> Silom 10500<br /> Bangkok<br /> THAILAND</p> <p>Associated individual: Richard Jennings</p> <p>Published on this site February 2001</p> <h3>Innova Equity Corporation</h3> <p>18th Floor<br /> Bund Centre<br /> 22 Yanan Road East<br /> Shanghai<br /> CHINA</p> <p>Published on this site January 2004</p> <h3>Interglobal Mergers &amp; Acquisitions Inc.</h3> <p>55 Park Plaza Drive<br /> Daly City<br /> San Francisco<br /> California<br /> UNITED STATES OF AMERICA</p> <p>Associated individuals: Vanessa Stone, Gregory Handsfield</p> <p>Published on this site March 2004</p> <h3>International Association of Transfer Agents</h3> <p>30 Wall Street<br /> New York, New York 10005<br /> UNITED STATES OF AMERICA</p> <p>Published on this site June 2007</p> <h3>InterTrade Asset Management</h3> <p>1800 E 9th # 1400<br /> Cleveland<br /> Ohio 44114<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: Maxwell Jones</p> <p>Published on this site April 2004</p> <h3>ITB Limited</h3> <p>Level 2<br /> Via Maistra 2<br /> St. Moritz<br /> SWITZERLAND</p> <p>Published on this site December 2003</p> <h2 id="j">J</h2> <h3>J P Moreau Limited</h3> <p>Level 14 Prudential Tower<br /> 30 Cecil Street<br /> 049712<br /> SINGAPORE</p> <p>Associated individuals: Lawrence Piper, Lily Chen</p> <p>Published on this site May 2003</p> <h3>Jacobs &amp; Kiplinger</h3> <p>Zurich World Trade Centre<br /> Leutschenbachstrasse 95<br /> 8050 Zurich<br /> SWITZERLAND</p> <p>Published on this site May 2002</p> <h3>Janco Lazard Transfer Company</h3> <p>30 Rockefeller Plaza 57th Floor<br /> New York, NY 10112-6300<br /> USA</p> <p>Tel: +1 202 389 7918<br /> Email: info@jancolazardtransfer.com<br /> Web: www.jancolazardtransfer.com</p> <p>Associated individual: Michael Levine</p> <p>Working in conjunction with Weiss Rifkin &amp; Partners, and EquiAsia</p> <p>Published on this site May 2011</p> <h3>Jefferson Clark Associates</h3> <p>PO Box 58389<br /> Seattle,<br /> Washington State,<br /> 98138-1386<br /> USA</p> <p>Published on this site June 2008</p> <h3>Johannson Linqvist Associates</h3> <p>Klarabergsviaduckten 70<br /> Kungsbron 1 Box 70301<br /> 107 24 Stockholm<br /> SWEDEN</p> <p>Associated individuals: Albert Stuart, Gerald Montrose</p> <p>Published on this site July 2005</p> <h2 id="k">K</h2> <h3>Kearns Investments Inc</h3> <p>Level 9 AIG Building<br /> 1-1-3 Marunouchi Chiyoda-Ku<br /> Tokyo 100-0005<br /> JAPAN</p> <p>Level 21 HSBC Tower<br /> 101 Yin Cheng East Road<br /> Pudong<br /> Shanghai 200120<br /> CHINA</p> <p>Level 36<br /> Menara Citibank<br /> 165 Jalan Ampang<br /> 50450 Kuala Lumpur<br /> MALAYSIA</p> <p>Associated individuals: Michelle Von Wald, Cyrus Fahad, Tony Sacks and Michael Stuart.</p> <p>Published on this site October 2001</p> <h3>Kempton Fitzgerald Limited</h3> <p>Empire House<br /> 175 Picadilly<br /> Mayfair<br /> London WIJ 9TB<br /> UNITED KINGDOM</p> <p>Published on this site November 2003</p> <h3>Kennedy Investments Limited</h3> <p>Edificio Centro Empresarial<br /> Oficina 403 Torre II<br /> 5a Avenida 15-45 Zona 10<br /> Guatemala City<br /> GUATEMALA 01010</p> <p>Published on this site June 2003</p> <h3>Kensington Group Inc</h3> <p>30th Floor, Shinjuku Park Tower<br /> 3-7-1 Nishi-shinjuku<br /> Shinjuku<br /> Tokio<br /> JAPAN</p> <h3>The Kensington Group</h3> <p>23F M Thai Tower<br /> All Seasons Place<br /> 87 Wireless Road<br /> Phatumwan<br /> Bangkok<br /> THAILAND</p> <p>18F, One International Finance Centre<br /> 1 Harbour View Street<br /> Central<br /> HONG KONG</p> <p>Published on this site October 2000</p> <h3>Kimberly Capital Corporation</h3> <p>14 George Road<br /> Glen Rock NJ 07452<br /> UNITED STATES OF AMERICA</p> <p>Associated individuals: Laurence Smith, Kamal Pateal Smith, Shamon Peris</p> <p>Telephone: 201 839 9517<br /> Fax: 201 604 7444<br /> E-mail: contact@kimberlycapital.com<br /> website: www.kimberlycapital.com</p> <p>Kimberly Capital Corporation should not confused with the legitimate Kimberly Capital Corporation incorporated in the US. It has stolen the name and address of the genuine firm. The genuine Kimberly Capital Corporation does not have a website and has different phone and fax numbers.</p> <p>Published on this site February 2009</p> <h3>KLM Investment Services Limited</h3> <p>25 Dowgate Hill<br /> Cannon Bridge<br /> London<br /> UNITED KINGDOM</p> <p>Associated individuals: Adam Lewis and Timothy Husk</p> <p>Published on this site August 2001</p> <h3>Knobias Alliance Group</h3> <p>Kornhausstrasse 3<br /> CH 9000 St. Gallen<br /> SWITZERLAND</p> <p>Associated individual: Jack Quinn</p> <p>Published on this site January 2004</p> <h2 id="l">L</h2> <h3>Liberty Assets Inc.</h3> <p>3306 South Liberty Street<br /> New Orleans<br /> LA 70115<br /> UNITED STATES OF AMERICA</p> <p>Associated individuals: Eli Green, George Franks, George Buckingham and Steven Givens</p> <p>Published on this site 28 September 2004</p> <h3>Liberty Capital International Limited</h3> <p>PO Box W829<br /> Corn Alley<br /> St John's<br /> ANTIGUA</p> <p>Published on this site June 2001</p> <h3>Liberty First Advisory Services, S.A.</h3> <p>Paris, 101-107<br /> 08029 Barcelona<br /> SPAIN</p> <p>Associated individual: Randy Perry</p> <p>Published on this site April 2004</p> <h3>Lincoln Partners M&amp;A Inc.</h3> <p>415 Madison Avenue<br /> New York City, New York<br /> 10017 UNITED STATES OF AMERICA</p> <p>Published on this site June 2007</p> <h3>Limbaugh and York Associates</h3> <p>1200 McGill College Avenue<br /> Suite 1105 Execu-Centre<br /> Montreal, QC H3B 4G7<br /> CANADA</p> <p>Phone: +1 514 906 1732<br /> Fax: +1 514 221 3865<br /> E-mail: info@limbaughandyorkassociates.com<br /> Website: www.limbaughandassociates.com</p> <p>Published on this site October 2008</p> <h3>Livingston Asset Management</h3> <p>14 Ron<br /> 1204 Geneva<br /> SWITZERLAND</p> <p>Associated individuals: Ingo Janneau, Marc Philips, Aron Mozes, Jonathon Livingston, Charles Bond.</p> <p>Published on this site June 2002</p> <h3>Lloyds TSB</h3> <p>Email: customer -service@lloydstsb.co.uk</p> <p>Note: Only this particular Lloyds email address is identified as fraudulent.</p> <p>Published on this site June 2008</p> <h3>Lombard Grand Incorporated</h3> <p>Level 21 Centennial Tower<br /> 3 Temasek Avenue<br /> SINGAPORE 039190</p> <p>Published on this site March 2004</p> <h3>Loyal Relations, Ltd.</h3> <p>1805 Wheelock House<br /> 20 Pedder Street,<br /> Central, HONG KONG</p> <p>Published on this site May 2007</p> <h3>Lloyds &amp; Barclays Inc.</h3> <p>Suite 3304, Empire States Building<br /> 350 Fifth Avenue<br /> New York 10118<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: Sonny Danson</p> <p>Published on this site 28 September 2004</p> <h3>Lynx Commodities</h3> <p>Asia House<br /> 31-33 Lime Street<br /> London EC3M 7HT<br /> UNITED KINGDOM</p> <p>Associated individual: James Wright</p> <p>Published on this site July 2005</p> <h3>Lynx Mackenzie Incorporated</h3> <p>415 Madison Avenue<br /> New York, NY10017<br /> USA</p> <p>Website: www.lynxmackenzie.com</p> <p>Published on this site January 2009</p> <h2 id="m">M</h2> <h3>Macintosh &amp; Sons Ltd</h3> <p>8 Hampshire Lane<br /> 3rd Floor<br /> Salisbury<br /> Wiltshire<br /> SP2 7TU<br /> UNITED KINGDOM</p> <p>Associated individual: Edward D. Macintosh II</p> <p>Published on this site October 2003</p> <h3>The Madison Group</h3> <p>23rd Floor<br /> M.Thai Tower<br /> All Seasons Place<br /> 87 Wireless Road<br /> Phatumwan<br /> Bangkok 10330<br /> THAILAND</p> <p>Associated individuals: Glen Bradshaw, Frank Harris, John Jacobsen</p> <p>Published on this site September 2000</p> <h3>Magna Capital Research</h3> <p>702 Wheelok House<br /> 20 Pedder Street<br /> Central Hong Kong<br /> HONG KONG</p> <p>Published on this site March 2006</p> <h3>Magnusson Edward</h3> <p>17/F Cheung Kong Center<br /> 2 Queen's Road Central<br /> HONG KONG</p> <p>Published on this site January 2006</p> <h3>Mane Capital Markets<a id="Mane Capital Markets" name="Mane Capital Markets"></a></h3> <p>Pasea Estate, Tortola<br /> British Virgin Islands<br /> <br /> Correspondent Office:<br /> Bahnhofstrasse 52,<br /> CH-8001 Zurich<br /> <br /> Phone: +41 (0)44 214 67 91<br /> Fax:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; +41 (0)44 214 65 19<br /> E-mail:&nbsp; <a href="mailto:info@mcmbroker.com">info@mcmbroker.com</a></p> <p>Published on this site&nbsp;October 2012</p> <h3>Manhattan Pacific Group Limited</h3> <p>The World Trade Centre<br /> Leutschenbachstrasse 95<br /> Zurich 8050<br /> SWITZERLAND</p> <p>Associated individual: David Carlton</p> <p>Published on this site March 2005</p> <h3>Manhattan Securities Corporation</h3> <p>166 Millbrook Circle<br /> Norwood<br /> NJ 07648<br /> UNITED STATES OF AMERICA</p> <p>Published on this site May 2006</p> <h3>Manning Capital, Inc</h3> <p>384 - 386 Greenwich Street<br /> NY 10013<br /> UNITED STATES OF AMERICA</p> <p>Published on this site April 2008</p> <h3>Michael J Marrin</h3> <p>Attorney-at-Law<br /> 44 Court Street<br /> Temple Bar Building<br /> Suite 802<br /> Brooklyn<br /> New York<br /> NY 11201<br /> UNITED STATES OF AMERICA</p> <p>Not to confused with Michael J Marrin, Attorney-at-Law, 65 Southard Avenue, Rockville Center, New NY 11570, United States of America.</p> <p>Published on this site June 2008</p> <h3>Marlborough Acquisitions Inc</h3> <p>4600 South Ulster Street<br /> Denver, Colorado 80237-2882<br /> UNITED STATES OF AMERICA</p> <p>Published on this site March 2001</p> <h3>Mason McHale Portfolio Management</h3> <p>19/F Hing Wai Building<br /> 36 Queen's Road<br /> CENTRAL HONG KONG</p> <p>Published on this site 04 June 2004</p> <h3>Master Bettman</h3> <p>548 8 Avenue<br /> New York<br /> UNITED STATES OF AMERICA</p> <p>Level 25, Bank of China Tower<br /> 1 Garden Road<br /> HONG KONG</p> <p>Published on this site April 2007</p> <h3>Mayer Wegner Mergers &amp; Acquisitions</h3> <p>Schwarzwaldstr, 88PLZ<br /> Stadt: 60528<br /> Frankfurt<br /> GERMANY</p> <p>Published on this site October 2005</p> <h3><a id="Maxum Gold Bnk Limited/Maxum Gold Bnk Holdings Limited/Maxum Gold Bnk PCPT Limited " name="Maxum Gold Bnk Limited/Maxum Gold Bnk Holdings Limited/Maxum Gold Bnk PCPT Limited "></a> <a id="Maxum Gold Bnk Limited/Maxum Gold Bnk Holdings Limited/Maxum Gold Bnk PCPT Limited" name="Maxum Gold Bnk Limited/Maxum Gold Bnk Holdings Limited/Maxum Gold Bnk PCPT Limited"></a> Maxum Gold Bnk Limited/Maxum Gold Bnk Holdings Limited/Maxum Gold Bnk PCPT Limited&nbsp;&nbsp;</h3> <p>Associated Business Advisors Limited<br /> 1st Floor, 178 Hibiscus Coast Highway, Red Beach<br /> Auckland, 0932 , New Zealand</p> <p>Phone: +1-415-513-5330<br /> Email: <a href="mailto:info@maxumgoldbnk.com">info@maxumgoldbnk.com</a><br /> Website: maxumgoldbnk.com/first_1.html</p> <p>Published on this site July 2012&nbsp;</p> <h3>Mercantile International Securities</h3> <p>100 Summer Street<br /> Boston, MA 02110<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: William Blair</p> <p>Published on this site 17 August 2004</p> <h3>Merit Capital Group</h3> <p>38 Russell Street<br /> 28/Floor Soundwill Plaza<br /> Causeway Bay<br /> HONG KONG</p> <p>Published on this site July 2003</p> <h3>Millennium Exchange</h3> <p>6919 Viejean Ave<br /> Van Nuys<br /> CA 914406<br /> UNITED SATES</p> <p>Published on this site May 2006</p> <h3>Millenium Financial Group</h3> <p>23rd Floor<br /> Tower 1, The Enterprise Center<br /> 6766 Ayala Avenue<br /> Makati City 1200<br /> PHILIPPINES</p> <p>Associated individuals: Richard Arrowsmith, Gary Artzt, G. Edward Buell, Ben Cattaneo, Nica Gelera, Ray Gordon, Jon Jones, Jon Lopresti, Matthew McAllister, George Mitchell, Lenny Mazzola, Joseph Paterno, Ken Sheffield, Romson Velez, and Robert Velis.</p> <p>Published on this site March 2001</p> <h3>Miller Bosses Acquisitions Inc.</h3> <p>4100 Lyndale Av<br /> Minneapolis<br /> MN 55409<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: Charles Davenport</p> <p>Published on this site 28 September 2004</p> <h3><a name="MiltonKeynesCapitalPartnersLLP"></a>Milton Keynes Capital Partners LLP</h3> <p>312 Avebury Boulevard, Milton Keynes, England, United Kingdom<br />Tel: +44 1908 535015<br />Fax: +44 1908 787525<br />Website: <a href="http://www.mkcap.co.uk">www.mkcap.co.uk</a><br />Email: <a href="mailto:admin@mkcap.co.uk">admin@mkcap.co.uk</a></p> <p>Published on this site May 2013</p> <h3>Monahan &amp; Monahan Ltd</h3> <p>339 Florida Boulevard<br /> Baton Rouge<br /> Louisiana 70806<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: Stephen P Monahan</p> <p>Published on this site November 2004</p> <h3>Montgomery,Smith and Cooper</h3> <p>Phone: +1 212 710 1372<br /> Fax: +1 718 725 8048</p> <p>Published on this site August 2008</p> <h3>Morgan International Investment Group Inc</h3> <p>6, Circuit de la Foire Internationale<br /> BP 2507, L-1025 Luxembourg<br /> GRAND-DUCHE DE LUXEMBOURG</p> <p>Associated individuals: Thomas Carpenter, Simon Richardson, Diane Rosenberg</p> <p>Published on this site November 2001</p> <h3>Morgan Pacific</h3> <p>138 Silom Road<br /> Boonmitr Building 10th Floor<br /> Suriyawongse<br /> Bangrak<br /> Bankok 10500<br /> THAILAND</p> <p>Associated individual: Graham Thompson</p> <p>Published on this site June 2001</p> <h3>Morgan Price Limited</h3> <p>Suite 2/83 Walker Street<br /> North Sydney<br /> NSW 2060<br /> AUSTRALIA</p> <p>Level 21, 201 Miller Street<br /> North Sydney<br /> NSW 2060<br /> AUSTRALIA</p> <p>Registered Office<br /> Unit 81<br /> 6 Greenknowe Avenue<br /> Elizabeth Bay<br /> NSW 2011<br /> AUSTRALIA</p> <p>Associated individuals: Robbie Joseph, president, Douglas Pestano, director/secretary, Paul Cottingham Sohn, director.</p> <p>Published on this site March 2003</p> <h3>Morrison Cross Financial Investments Limited</h3> <p>Ave. Manuel Espinosa Batista<br /> International Business Center<br /> Floor 11<br /> PO Box 0833-0118<br /> Panama<br /> REPUBLIC OF PANAMA</p> <p>Associated individuals: Kenneth Elliot, Max Peters</p> <p>Published on this site June 2001</p> <h3>Muller and Sons Securities Management Inc</h3> <p>Unit 114 Prince Plaza 1<br /> 106 Legaspi Street<br /> Legaspi Village<br /> Makati City<br /> PHILIPPINES</p> <p>Associated individuals: Ben Smit, Michael Martin, Stephanie Victoire and Maurie Wise</p> <p>Published on this site August 2000</p> <h3>Muller Schmidt Associates</h3> <p>1500 W Lake St<br /> MN 55408<br /> UNITED STATES OF AMERICA</p> <p>Published on this site December 2005</p> <h2 id="n">N</h2> <h3>Nakamoto International Group</h3> <p>Wakamatsu Building<br /> 3-3-6 Nihonbashi Hon-cho<br /> Chuo-ku<br /> TOKYO 103-0023</p> <p>Published on this site June 2006</p> <h3>Nasdaq Brokercheck</h3> <p>Not to be confused with the genuine Nasdaq Stock Exchange (<a href="http://www.nasdaq.com" title="View site: www.nasdaq.com">www.nasdaq.com</a>)</p> <p>Published on this site June 2008</p> <h3>Nationwide Mergers &amp; Acquisitions Inc</h3> <p>3178 Johnson Ferry Road Northeast<br /> Atlanta, GA 30303<br /> UNITED STATES OF AMERICA</p> <p>Published on this site February 2005</p> <h3>New Alliance Securities Inc.</h3> <p>1370 3rd Avenue<br /> New York, NY<br /> UNITED STATES OF AMERICA</p> <p>Tel: + 1 646 360 1715<br /> Fax: + 1 646 224 9826<br /> Email: info@newalliancesecurities.com</p> <p>Associated individual: Jose Luis Barria</p> <p>Published on this site April 2011</p> <h3>New York Income Partners II LLC</h3> <p>34445 Winton Place<br /> Rochester NY 14623<br /> UNITED STATES OF AMERICA</p> <p>Phone: +1 866 365 0718/ +1 585 492 8900<br /> Fax: +1 202 262 1105<br /> E-mail: info@nyipartners.com</p> <p>Not to be confused with the genuine New York Income Partners II, LLC</p> <p>Published on this site January 2010</p> <h3>Newmann Hamshire GmbH</h3> <p>21^st Floor Mainzer Landstrasse 47<br /> 60329 Frankfurt am Main<br /> GERMANY</p> <p>Published on this site November 2005</p> <h3>New Market Corporation</h3> <p>Yurakucho 2-7-1<br /> Chiyoda-Ku<br /> Tokyo<br /> JAPAN</p> <p>Website: www.newmarketcorp.com<br /> Email: info@newmarketcorp.com<br /> Phone: +813 4580 2171<br /> Fax: +813 4580 2197</p> <p>Associated individual: Dave Chavez</p> <p>Published on this site April 2010</p> <h3>Newport Pacific Securities &amp; Management Inc</h3> <p>Unit 404<br /> Greenbelt Mansion<br /> 106 Pera Street<br /> Legaspi Village<br /> Makati<br /> Manila<br /> PHILIPPINES</p> <p>Associated individuals: Jack Miller, Thomas Massino, Johnny Morgan, Peter Lynch and Ron James</p> <p>Published on this site October 2000</p> <h3><strong><a id="New Zealand International Savings and Loans Ltd" name="New Zealand International Savings and Loans Ltd"></a>New Zealand International Savings and Loans Ltd</strong></h3> <p>Level 3, Office 24<br /> 60 Cook Street<br /> Auckland 1010, New Zealand</p> <p>Email: <a href="mailto:admin@nzisl.com">admin@nzisl.com</a><br /> Phone: (64) 9 973&nbsp; 5882<br /> Website: <span>nzisl.com/</span></p> <p>Published on this site July 2012&nbsp;</p> <h3>Noble International Consulting Inc</h3> <p>PO Box 330<br /> Ste 505<br /> 123 Queen Street<br /> Toronto<br /> Ontario M5H 2M9<br /> CANADA</p> <p>Published on this site August 2005</p> <h3>Northpoint Portfolio Management Ltd (<em>see also earlier listing below</em>)</h3> <p>Chong Hing Finance Centre<br /> Level 12<br /> Nanjing West Road<br /> 2003 Shanghai<br /> CHINA</p> <p>Phone: +86 138 1655 0144<br /> Email: clientservices@northppm.com<br /> Website: www.northpmm.com</p> <p>Associated individuals: Eric Demitrios, Richard Forsyth</p> <p>Published on this site October 2010</p> <h3>North Point Asset Management Ltd</h3> <p>North Point Investment Management<br /> Chonghing Finance Center<br /> Level 12, 288 Nanjing XI Road<br /> Huangpu district 200003<br /> Shanghai,<br /> CHINA</p> <p>Phone: +86 138 165 501 44<br /> Fax: +86 216 163 8213<br /> Website: www.northpointassetmanagement.com</p> <p>Associated individual: Chris Johnson</p> <p>Published on this site August 2009</p> <h3>Norwich Capital Mutual Funds Limited</h3> <p>Valero Towers, Penthouse D<br /> 122 Valero Street<br /> Salcedo Village<br /> Makati City<br /> PHILIPPINES</p> <p>Associated individual: Chris Jones</p> <p>Published on this site August 2001</p> <h3>Norwich International Trading Inc</h3> <p>W910 West Tower<br /> Philippine Stock Exchange Centre<br /> Exchange Road<br /> Oritgas Centre<br /> Pasig City<br /> Metro Manila<br /> PHILIPPINES</p> <p>Associated individuals: Kathleen Edward and Kevin Walker</p> <p>Published on this site November 2001</p> <h3>NT Financial Services</h3> <p>808 Broadway, #1<br /> New York, NY 10003<br /> UNITED STATES OF AMERICA</p> <p>Tel: +1 212 247 1798<br /> Fax: + 1 212 937 3669<br /> Email: info@ntfinancialservices.net<br /> Website: www.ntfinancialservices.net</p> <p>Associated individuals: Alyson White</p> <p>Published on this site October 2010</p> <h3>Nuventis Corporate Services Group</h3> <p>18F Bund Center<br /> 222 Yunan Road East,<br /> Shanghai 2000002<br /> CHINA</p> <p>Published on this site December 2005</p> <h2 id="o">O</h2> <h3>Oakmont Financial Mergers</h3> <p>130 Bellevue Avenue<br /> Newport, RI 02840<br /> UNITED STATES OF AMERICA</p> <p>Published on this site February 2005</p> <h3>Oasis Capital Inc.</h3> <p>542 Mt. Pleasant Road, Suite 105<br /> Toronto, Ontario<br /> CANADA M4S 2M7</p> <p>Associated individuals: Timothy (Ted) E Manning, Judith M Switzer, James K de Roux</p> <p>Published on this site November 2003</p> <h3>Ocean Blue Distribution Limited</h3> <p>380 Bloor St. W.<br /> Toronto<br /> Ontario<br /> M7J-3M5<br /> CANADA</p> <p>Associated individuals: Cindy Tan and William W. Baynes</p> <p>Published on this site July 2003</p> <h3>Onyx Acquisitions</h3> <p>London<br /> ENGLAND</p> <p>Published on this site February 2006</p> <h3>Oppenheimer International</h3> <p>No. 4 Royal Mint Court<br /> London EC3N 4HJ<br /> ENGLAND</p> <p>Associated individuals: Jess Bunting, Carsten Straber, Patrick Seagraves</p> <p>Published on this site May 2003</p> <h3>Oppenheimer Securities Inc.</h3> <p>1150 Silverado Street<br /> La Jolla<br /> California<br /> UNITED STATES OF AMERICA</p> <p>Published on this site May 2007</p> <h3>Overseas Management Group Inc.</h3> <p>1054-356 Centre Street<br /> Toronto, Ontario<br /> Canada</p> <p>Associated individual: Ricardo Martins</p> <p>Published on this site June 2005</p> <h3>Oxley Mergers and Acquisitions</h3> <p>717 Texas Avenue<br /> Houston<br /> TX 77002-2761<br /> UNITED STATES OF AMERICA</p> <h2 id="p">P</h2> <h3>Palladium Cathay Intermediaries</h3> <p>1266 Nanjing West Road, Shanghai<br /> 200040<br /> CHINA</p> <p>Published on this site April 2008</p> <h3>Pan Euro Financial SA</h3> <p>10, Cours de Rive<br /> CP3237 - CH1211<br /> Geneva<br /> SWITZERLAND</p> <p>Associated individuals: Steven Evans, Allen Kaplan, David Mills, Mike Nyberg</p> <p>Published on this site September 2003</p> <h3>Paradigm Resources, Ltd</h3> <p>Mansell<br /> 4555 Mansell Road<br /> Suite 625<br /> Atlanta<br /> GA 30022<br /> UNITED STATES OF AMERICA</p> <p>Published on this site December 2005</p> <h3>Parker &amp; Cramer Asset Management Inc</h3> <p>First West Building<br /> 200 First Avenue West Suite 400<br /> Seattle<br /> Washington 98119<br /> UNITED STATES OF AMERICA</p> <p>Published on this site February 2005</p> <h3>Pacific Rim Wealth Management</h3> <p>16 Westlands Road<br /> HONG KONG</p> <p>Tel: 852 9573 7972<br /> Fax: 852 3050 9026<br /> Email: info@pacificrimwealthmgmt.com<br /> Website: www.pacificrimwealthmgmt.com<br /> Associated Individuals: Judy Abbot, Ben Allan, Alan Jones, Tony Ortiz</p> <p>Published on this site June 2009</p> <h3>Park Equity Ventures</h3> <p>78 York Street<br /> London<br /> United Kingdom</p> <p>Tel: +4420 3026 3883<br /> Fax: + 4420 3014 9560<br /> Email: info@parkequityventures.com<br /> Website: www.parkequityventures.com</p> <p>David Graham - associated individual<br /> Dr. Michael Bennett - associated individual<br /> Charles Davis - associated individual<br /> Ted James - associated individual<br /> George Nelson - associated individual</p> <p>Published on this site December 2010</p> <h3>Parker Jennings</h3> <p>2117 Buffalo Road<br /> Rochester<br /> New York 14624<br /> UNITED STATES OF AMERICA</p> <p>Published on this site December 2002</p> <h3>PCA Management</h3> <p>24 De Castro<br /> Road Town<br /> Tortola<br /> BRITISH VIRGIN ISLANDS</p> <p>Published on this site December 2005</p> <h3>Pembridge Group</h3> <p>Suite 2903<br /> 29/F, Tower 1<br /> Admiralty Centre<br /> HONG KONG</p> <p>Associated individual: Justin Wentworth</p> <p>Published on this site August 2001</p> <h3>Perpetual Trading Group</h3> <p>1650 S. Dixie Highway Suite 100<br /> Boca Raton<br /> Florida 33432<br /> U.S.A</p> <p>Published on this site November 2004</p> <h3>Pfeiffer Galland</h3> <p>Plaza Mashill Level 21<br /> Jalan Jendral Sudirman Kav 25<br /> Jakarta<br /> INDONESIA</p> <p>Published on this site October 2002</p> <h3>Pinnacle Global Corporation</h3> <p>77 Lai Kwai Fong<br /> HONG KONG</p> <p>Published on this site in November 2005</p> <h3>Pinnacle Group LLC</h3> <p>1400 N. Dallas Parkway<br /> Suite 1200<br /> Dallas, Texas 75240<br /> UNITED STATES OF AMERICA</p> <p>Published on this site in March 2006</p> <h3><a id="Plutus Private Equity LLC" name="Plutus Private Equity LLC"></a>Plutus Private Equity LLC</h3> <p>1 Mystic View Road, Boston MA 02149<br /> Phone: (617) 517 3046<br /> Fax: (617) 249 0766<br /> E-mail: s.williams@plutuspe.com<br /> <br /> Published on this site August 2012</p> <h3>Powell McDougall</h3> <p>Harcourt Centre<br /> Harcourt Road<br /> Dublin 2<br /> REPUBLIC OF IRELAND</p> <p>Published on this site March 2004</p> <h3>Preferred Global Partners</h3> <p>Theaterstrasse 14<br /> Zurich 8001<br /> SWITZERLAND</p> <p>Associated individual: Steven Marx</p> <p>Published on this site March 2005</p> <h3>Preferred Performance Group, Company Limited</h3> <p>Richmond Building<br /> 75 Sukhumvit Soi 26<br /> Bangkok<br /> THAILAND</p> <p>Published on this site November 2001</p> <h3>The Prestige Group Ltd</h3> <p>National Newark Building<br /> 744 Broad Street<br /> 18th Floor<br /> Newark, NJ 07102<br /> UNITED STATES OF AMERICA</p> <p>Published on this site April 2007</p> <h3>The Prestige Perspective</h3> <p>1 Harbour Road<br /> Wanchai<br /> HONG KONG</p> <p>Published on this site October 2005</p> <h3>Premier eFinance</h3> <p>Central Centre<br /> 99 Queens Road<br /> Hong Kong SAR</p> <p>Tel: + 852 8197 2553<br /> Fax: + 852 3015 6867<br /> Email: info@premier-efinance.com<br /> Website: www.premier-efinance.com</p> <p>Associated individual: Susan Crawford</p> <p>Published on this site March 2011</p> <h3>Price &amp; Partners Consultants</h3> <p>5-7C Duke Wellington House<br /> 14-21 Wellington Street, Central District<br /> Hong Kong</p> <p>Tel: + 852 3 6786714 / + 852 3 1750956<br /> Email: b.scott@priceandpartnersconsultants.com<br /> legal@priceandpartnersconsultants.com<br /> Website: www.priceandpartnersconsultants.com</p> <p>Associated individual: Brian Scott</p> <p>Published on this site April 2011</p> <h3>Prime Capital Advisors</h3> <p>Nicolau Pentadromos Center<br /> 25 Ayias Zonis Street<br /> Suite 1100 Limassol<br /> CYPRUS</p> <p>Associated individual: Wendell Martin</p> <p>Published on this site November 2004</p> <h3>Primesolutions Securities Inc</h3> <p>The Primesolutions Securities Inc. listed has stolen the identity of a legitimate firm in the United States. The legitimate Primesolutions Securities Inc. can be contacted by phone +1 440 230 0400 or by fax on +1 440 230 9956.</p> <p>Published on this site August 2007</p> <h3>Pro Capital Asset Management</h3> <p>25 Aphrodite Street<br /> PO Box 26025<br /> 166 Nicosia<br /> CYPRUS</p> <p>Associated individual: Scott Meadows</p> <p>Published on this site December 2007</p> <h3>Profidex Ltd</h3> <p>Levels 9-11, AIG Building<br /> 1-1-3 Marunouchi<br /> Chiyoda-Ku<br /> Tokyo 100-0005<br /> JAPAN</p> <p>Published on this site April 2006</p> <h2 id="q">Q</h2> <h3>Quantum Capital Corporation</h3> <p>Hardturmstrasse 101<br /> Zurich, CH, 8005<br /> SWITZERLAND</p> <p>Published on this site November 2005</p> <h3>Quantum Global Equities Inc.</h3> <p>19th St NW<br /> Washington, District of Columbia 20036<br /> USA</p> <p>Tel: + 1 202 3910 955<br /> Email: info@quantumglobalequitiesinc.com</p> <p>Associated individual: James Forbes</p> <p>Published on this site March 2011</p> <h2 id="r">R</h2> <h3>Radius Resources</h3> <p>95 South Street<br /> New York, NY 10038<br /> UNITED STATES OF AMERICA</p> <p>Published on this site May 2007</p> <h3>Regal Group International</h3> <p>35/F Central Plaza<br /> 18 Harbour Road<br /> HONG KONG SAR</p> <p>Phone: +852 3175 0983<br /> Fax: +852 3678 6713<br /> Email: info@regalgroupinternational.com<br /> Website: www.regalgroupinternational.com</p> <h3>Reliance Asset Management Ltd</h3> <p>Suite 308<br /> 3F Toyota Bldg, 3-11 Minami-Semba 4-chome<br /> Chuo-ku, Osaka 542-0081<br /> JAPAN</p> <p>Phone: +816 4560 4003<br /> Fax: +816 7635 4846<br /> Email: peter.francis@reliance-am.com/ inquire@reliance-am.com<br /> Website: www.reliance-am.com</p> <p>Associated individual: Peter Francis III, Brian Lee, Richard McDaniel</p> <p>Published on this site May 2011</p> <h3>Remington Consultancy Limited</h3> <p>1245 Pleasant View Boulevard<br /> Scottsdale Arizona 85261<br /> UNITED STATES OF AMERICA</p> <p>Associated individuals: Richard Remington, George Mason, John Richmonds</p> <p>Published on this site September 2001</p> <h3>Richard Watson Associates</h3> <p>4021 27th Street, 2nd Floor<br /> Long Island City<br /> New York 11101<br /> UNITED STATES OF AMERICA</p> <p>Published on this site November 2003</p> <h3>Richardson Resources Inc.</h3> <p>Carl-Zeiss-Str. 14-18<br /> 65520 Bad Camberg<br /> GERMANY</p> <p>81 Pedder Street<br /> HONG KONG</p> <p>Associated individual: William Ford</p> <p>Published on this site 17 August 2004</p> <h3>Richmond Capital Management</h3> <p>21/F Seoul Finance Centre<br /> Taepyeongno 1-ga<br /> Jung-gu, Seoul, Korea 100-768</p> <p>Phone: +82 70 7894 5584<br /> Fax: +82 2 3782 4820<br /> E-mail: info@richmondconsultancy.com<br /> Website: www.richmondconsultancy.com</p> <p>Not to be confused with the genuine:</p> <p>Richmond Capital Management, Inc. 10800 Midlothian Turnpike, Suite 217, Richmond, VA USA 23235, Tel: (804) 379-8280, Fax: (804) 379-9362</p> <p>Associated individuals: Hamilton Trading Limited</p> <p>Published on this site June 2008, updated November 2008</p> <h3>RJL International Ltd</h3> <p>625 Mt. Auburn Street<br /> Cambridge, MA 02138<br /> UNITED STATES OF AMERICA</p> <p>Associated individuals: Vincent Gentile, Mike Eastwood, Jerry Bell</p> <p>Published on this site 15 April 2004</p> <h3>Rosenberg Smith &amp; Partners</h3> <p>2000 Steeles Avenue West, Suite 200<br /> Concord<br /> Ontario<br /> CANADA</p> <p>Associated individuals: Norman Rosenberg and Morry Nosak</p> <p>Published on this site July 2004</p> <h3>Rosenthal International</h3> <p>1370 Broadway<br /> New York<br /> NY 10018<br /> UNITED STATES OF AMERICA</p> <p>Associated individuals: Jonathon Nagle and Michael Ryder</p> <p>Published on this site 17 August 2004</p> <h3>Royal Acquisitions Inc</h3> <p>96 West Park Place<br /> Newark<br /> Delaware 19711<br /> UNITED STATES OF AMERICA</p> <p>Associated individuals: Associated individuals: Anthony Hutchins, Eric Collins</p> <p>Published on this site 28 September 2004</p> <h3>Rutherford Acquisitions</h3> <p>7400 Metro Blvd<br /> Minneapolis<br /> Minnesota MN 55439<br /> UNITED STATES OF AMERICA</p> <p>Published on this site December 2002</p> <h2 id="s">S</h2> <h3>Safeguard Equity Group</h3> <p>88 Queensway, Central<br /> HONG KONG</p> <p>Phone: +852 9573 7990<br /> Fax: +852 3016 6330<br /> E-mail: info@safeguardequity.com<br /> Website: www.safeguardequity.com</p> <p>Associated individuals: Julia Lopez, Steve Edwards, Laura Bates</p> <p>Published on this site November 2008</p> <h3>Salem Asset Management</h3> <p>1501 Frederica Street, Duluth<br /> Minnesota 42101<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: David Pearson<br /> Published on this site 17 August 2004</p> <h3>Scudder, Stevens &amp; Clark</h3> <p>60 St. Mary Ave<br /> London<br /> EC3A 8JQ<br /> UNITED KINGDOM</p> <p>Published on this site September 2003</p> <h3>Schwartz Leiberman Associates</h3> <p>PO Box 16425<br /> Seattle<br /> Washington, 97271<br /> United States of America</p> <p>Tel: + 1 206 350 4019 / + 1 206 202 6202<br /> Fax: + 1 206 299 9239 / + 1 206 339 4812<br /> Email: info@schwartzleiberman.com<br /> Website: www.schwartzleiberman.com</p> <p>Associated individual: John Campbell</p> <p>Posted on this site November 2010</p> <h3>Seago South</h3> <p>One Harbour Place<br /> 1901 S Harbor City Blvd<br /> Melbourne, FL 32901<br /> UNITED STATES OF AMERICA</p> <p>Associated individuals: John Joust and Stephen J. Seago</p> <p>Published on this site November 2007</p> <h3>Shanghai M&amp;A International</h3> <p>3501 Citic Square<br /> 1168 Nanjing Xi Lu<br /> Shanghai 200041<br /> CHINA</p> <p>Published on this site April 2006</p> <h3>Shin Kong Wedbush</h3> <p>6F, No.6, Sec.4, Xinyi Rd<br /> Taipei<br /> TAIWAN</p> <p>Phone: + 886 2 8758 2905<br /> Fax: + 886 2 6602 1275<br /> Email: info@shinkongwedbush.com<br /> Web: www.shinkongwedbush.com</p> <p>Published on this site October 2010</p> <h3>Sherman Brothers</h3> <p>Unit 1911, 19th Floor<br /> One Pacific Place<br /> 140 Sukhumvit Road<br /> Klongtoey District<br /> Bangkok 10110<br /> THAILAND</p> <p>Published on this site September 2001</p> <h3>Schiller Gates Incorporated</h3> <p>1695 Broadway<br /> New York, NY 10018 - 5009<br /> UNITED STATES OF AMERICA</p> <p>Tel: +1 646 912 6185<br /> Fax: + 1 646 861 4847<br /> Email: admin@schiller-gates.com<br /> Website: www.schiller-gates.com</p> <p>Associated individuals: Andrew Steve Johnson John Marshall</p> <p>Published on this site October 2010</p> <h3>Sigama Capital Management</h3> <p>14th Floor, Kamiya-cho Mori Bldg<br /> 4-3-20 Toranomon<br /> Minato, Tokio<br /> JAPAN</p> <h3>Sigama Capital Management</h3> <p>Level 18<br /> One International Finance Centre<br /> 1 Harbour View Street<br /> Central<br /> HONG KONG</p> <p>Level 14/1401<br /> One Pacific Place<br /> 140 Sukhumvit Road<br /> Bangkok<br /> THAILAND</p> <p>Associated individuals: David Burgess and Anne Davies</p> <p>Published on this site August 2000</p> <h3>Silverstone Management S.L.</h3> <p>Avda, Diagonal 618<br /> Planta 9<br /> 0821<br /> Barcelona<br /> SPAIN</p> <p>Associated individual: Matthew Thompson</p> <p>Published on this site July 2005</p> <h3>Simmons, Blake &amp; Fritch</h3> <p>27 Floor Jefferson Towers<br /> 9823 Hover Street<br /> Maverick Avenue<br /> St Paul, Minnesota<br /> UNITED STATES OF AMERICA</p> <p>Associated individuals: Jennifer Stone, Kate Jones, Timothy Croft</p> <p>Published on this site September 2001</p> <h3>Simon Eastwood Asset Management</h3> <p>15/5 Cerulean Tower<br /> 26-1 Sakuragaoka-cho<br /> Shibuya-ku, Tokyo 150 8512</p> <p>US Office<br /> 3330 Cumberland Blvd.,<br /> Atlanta, GA 30339</p> <p>China Office<br /> 989 Changle Road<br /> Shanghai 200031</p> <p>Published on this site October 2005</p> <h3>Simpson Venture Limited</h3> <p>ABC Centre, 500 North Michigan Ave.<br /> 300, Chicago<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: Jason Edwards</p> <p>Published on this site July 2005</p> <h3>Sino Intermediaries</h3> <p>Level 37<br /> Taipei 101 Tower<br /> 7 Xinyi Road<br /> Section 5<br /> 110 Taipei<br /> TAIWAN</p> <p>Published on this site May 2006</p> <h3>Smith &amp; Henderson Associates Inc</h3> <p>Level 21, HSBC Tower<br /> 101 Yin Cheng East Road<br /> Pudong<br /> Shanghai<br /> CHINA</p> <p>Serrano 240 5th Floor<br /> 28016 Madrid<br /> SPAIN</p> <p>Published on this site November 2001</p> <h3>Smith Davidson Group Inc</h3> <p>4-2880 queen St. East<br /> Suite 304<br /> Brampton<br /> ON L6S 6H4<br /> CANADA</p> <p>Published on this site February 2006</p> <h3>Smith Klein Venture Limited</h3> <p>3705 Bank of America Tower<br /> Suite 582<br /> 12 Harcourt Road<br /> HONG KONG</p> <p>Associated individual: Castor Hill</p> <p>Published on this site June 2005</p> <h3>South East Asia Trading</h3> <p>12th Floor<br /> 253 Soi Sukhumvit<br /> 21 Asoke Road<br /> Bangkok 10110<br /> THAILAND</p> <p>Associated individuals: Jamie Nettleship, Andrew Hewit, Michelle Tetreaut.</p> <p>Published on this site August 2001</p> <h3>Spartan Capital Management</h3> <p>412 Park Avenue, 18th Floor<br /> New York, NY 10022<br /> USA</p> <p>Phone: +1 646 861 7887<br /> Fax: +1 646 224 4890<br /> Email: info@spartancam.com<br /> Website: www.spartancam.com</p> <h3>Stamford - Financial</h3> <p>Level 14, Hibiyo Central Building<br /> 1-2-9 Nishi Shimbashi<br /> Minoto-ku<br /> Tokyo<br /> JAPAN</p> <p>Published on this site November 2002</p> <h3>Standard United Corporation</h3> <p>8 Harbour Road<br /> Wanchai<br /> HONG KONG</p> <p>Phone: +852 9575 4213<br /> Fax: +852 3015 9768<br /> E:mail info@standardunited.com<br /> website: www.standardunited.com<br /> Associated individuals: Isabel Green, Ray Chavez</p> <p>Published on this site August 2008</p> <h3>Sterling Capital Corp.</h3> <p>23rd Floor, 6750 Ayala Ave<br /> Makati City, Metro Manila<br /> 1226 THE PHILIPPINES</p> <p>Associated individuals: Steven Thompson, John Davis, Michael Cayhill, Jane Alexander</p> <p>Published on this site November 2001</p> <h3><a id="Sumitomo Financial Corporation" name="Sumitomo Financial Corporation"></a>Sumitomo Financial Corporation</h3> <p>1-8-3 Marunouchi<br /> Chiyoda-Ku<br /> Tokyo 1006601<br /> Japan.<br /> Tel 81 345 888 710. <a href="http://www.sumifincorp.com">www.sumifincorp.com</a></p> <p>Not to be confused with the legitimate entity Sumitomo Mitsui Banking Corporation and Sumitomo Mitsui Financial Group, Inc (<a href="http://www.smfg.co.jp/english/">http://www.smfg.co.jp/english/</a>)</p> <h3>Sun International Mergers &amp; Acquisitions</h3> <p>1661 International Drive<br /> Memphis<br /> TN 38120-1431<br /> UNITED STATES OF AMERICA</p> <p>Published on this site February 2006</p> <h3><a id="Swiss Asia Commodities Securities" name="Swiss Asia Commodities Securities"></a>Swiss Asia Commodities Securities</h3> <p>Bahnhofstrasse 63<br /> Zurich<br /> Schweiz 8001<br /> <br /> Phone: +41 44 586 2832<br /> Fax: +41 44 732 6268<br /> <br /> Contact: John Cooper<br /> <br /> Email addresses:<br /> charles.hampton@sacsecurities.org<br /> clients@sacsecurities.org<br /> <br /> Website: http://sacsecurities.org/<br /> <br /> Published on this site February 2013<br /> <br /> <strong>Please note, this is not: SAC Capital http://sacsecurities.org/</strong></p> <h3><strong>Swiss Financial Corp Limited</strong></h3> <p>&nbsp;412, Lake Road, Takapuna 0622<br /> Auckland 0744, New Zealand</p> <p>Email: <a href="mailto:aukland@swissfincorp.com">aukland@swissfincorp.com</a><br /> Website: swissfincorp.com/index.html</p> <p>Published on this site July 2012&nbsp;</p> <h2 id="t">T</h2> <h3>Taylor Atlantic Ltd</h3> <p>Level 4<br /> Tower 2<br /> Petronas Twin Towers<br /> Kuala Lumpur 50088<br /> MALAYSIA</p> <p>Associated individual: John Sinclair</p> <p>Published on this site June 2001</p> <h3>Tech-Link International Ltd</h3> <p>Shinjuku Park Tower N30<br /> Nishishinjuku 3-7-1<br /> Shinjuju-ku<br /> Tokyo<br /> JAPAN 163-030</p> <p>Associated individual: Frank Vacarro</p> <p>Published on this site April 2004</p> <h3>Thomas Reiss &amp; Partners</h3> <p>Dahnstr. 4, T7 OC, D-13403<br /> Berlin<br /> GERMANY</p> <p>Published on this site February 2006</p> <h3>Titan Capital Corporation</h3> <p>Published on this site April 2008</p> <h3>Tradex Corporation</h3> <p>Unit 811-813 Tower 1<br /> Junefield Plaza No.6 Xuanwumenwai Street<br /> Xuanwu District<br /> Beijing<br /> CHINA</p> <p>Published on this site February 2007</p> <h3>Transglobal Consultants Limited</h3> <p>Pacific Place Two Building Suite 1707<br /> 17th Floor, 142 Sukhumvit Road, Klongtoey<br /> Bangkok 10110<br /> THAILAND</p> <p>Associated individuals: Paul Jenson, Josh Kaytor, Daniel Bailey, Robert Ellis and Jeremy Blake.</p> <p>Published on this site August 2000</p> <h3>Trans-National Securities and Trust SA</h3> <p>Birmensdorferstrasse 140,<br /> CH-8003<br /> Zurich<br /> SWITZERLAND</p> <p>Associated individual: John Montana</p> <p>Published on this site December 2000</p> <h3><strong><a id="Trendoks IMG (NZ) LLC and Trendoks Limited" name="Trendoks IMG (NZ) LLC and Trendoks Limited"></a>Trendoks IMG (NZ) LLC and Trendoks Limited</strong></h3> <p>41 Shortland Street<br /> AXA Center<br /> Auckland 1010<br /> New Zealand</p> <p>Phone: (64)9 363 9606<br /> Email: <a href="http://www.trendoks.com/en/fsp-registration">http://www.trendoks.com/en/fsp-registration</a></p> <p>Published on this site July 2012&nbsp;</p> <h3>Trident International</h3> <p>Suite 2207<br /> 88 Corporate Centre<br /> 141 Valero Street<br /> Salcedo Village<br /> Makati<br /> Manila<br /> PHILIPPINES</p> <p>Associated individual : Richard Bell</p> <p>Published on this site October 2000</p> <h3><strong><a id="Trillion Private Wealth Limited" name="Trillion Private Wealth Limited"></a>Trillion Private Wealth Limited</strong></h3> <p>Level 3<br /> Office 24<br /> 60 Cook Street<br /> Auckland</p> <p>Published on this site July 2012&nbsp;</p> <h3>Turner Goodman Group</h3> <p>1650 Madison Avenue, 7th Floor<br /> New York 11002-311<br /> UNITED STATES OF AMERICA</p> <p>Associated individual: Jeremy Collins</p> <p>Published on this site 17 August 2004</p> <h3>Tzu, Waite &amp; Associates</h3> <p>105 Cecil Street<br /> 06-01 The Octagon<br /> SINGAPORE 069534</p> <p>9 Raffles Place<br /> 27-01 Republic Place<br /> SINGAPORE 048619</p> <p>Associated individuals: Jonathan Charles Waite, Jenny Su</p> <p>Published on this site September 2003</p> <h2 id="u">U</h2> <h3>Union Transfer Inc.</h3> <p>469 7th Avenue<br /> New York, NY 10018<br /> UNITED STATES OF AMERICA</p> <p>Phone: 1 212 401 6220<br /> Fax: 1 206 600 6553<br /> Email: info@uniontransferinc.com<br /> Website: www.uniontransferinc.com</p> <p>Associated individual: Thomas Dickson</p> <p>Published on this site August 2009</p> <h3>United Capital Management Inc</h3> <p>1680 Ramon Magsaysay Centre<br /> Roxas Boulevard<br /> Manila<br /> PHILIPPINES</p> <p>Associated individual : Richard Austin</p> <p>Published on this site October 2009</p> <h3>United Capital Partners</h3> <p>21F Marajo Tower,<br /> 312, 26th Street, Corner 4th Avenue<br /> Fort Bonifacio Global City<br /> Manila<br /> PHILIPPINES</p> <p>Phone: 632 856 1543 ext 570<br /> Fax: 632 856 7220<br /> Email: info@unitedcapital-partners.com<br /> Web: www.unitedcapital-partners.com</p> <p>Associated individual: Richard G Burden email: richard@unitedcapital-partners.com</p> <p>Published on this site October 2010</p> <h3>US Department of the Treasury</h3> <p>1500 Pennsylvania Avenue, NW<br /> Washington DC, 20220<br /> UNITED STATES OF AMERICA</p> <p>Email: treasgov@consultant.com<br /> Telephone: +1 646 395 1749<br /> Fax: +1 646 786 4658</p> <p>Associated person: Monique Wilson</p> <p>Published on this site March 2011</p> <p>Note: Not to be confused with the genuine US Department of the Treasury. The e-mail address, treasgov@consultant.com, and phone and fax numbers shown are fraudulent and have been established to deceive investors.</p> <h3>US Stock Transfers Bureau</h3> <p>101 Federal Street<br /> Boston, MA<br /> UNITED STATES OF AMERICA</p> <p>Email: compliance@ustb.us, info@ustb.us<br /> Telephone: +1 617 517 0339<br /> Fax: +1 617 249 1763</p> <p>Associated person: Alan Schindler</p> <p>Published on this site February 2001</p> <h3>Universal Consolidated</h3> <p>55 Wall Street<br /> New York, NY 10005<br /> UNITED STATES OF AMERICA</p> <p>Phone: +1 212 401 6180<br /> Fax: +1 212 401 6181<br /> Email: info@universalcsld.com<br /> Website: www.universalcsld.com</p> <p>Associated individuals: Nicole Valdez, Cain Martin, Chris March, Olivia Rios, William Waldon</p> <p>Published on this site June 2010</p> <h3>US - Internal Revenue Service</h3> <p>1220 S.W. Third Avenue<br /> Portland<br /> Oregon 97204<br /> USA</p> <p>Toll Free Hotline Number: + 1 8888 298 244<br /> Email: usirs.gov@revenue.com</p> <p>Associated individual: David Frank</p> <p>Note: the above entity is an impersonation of the genuine US Internal Revenue Service</p> <p>Published on this site December 2010</p> <h3>US International Bureau For Trading</h3> <p>1101 30th Street, NW Suite 500<br /> Washington, DC 20007<br /> USA<br /> <br /> Tel:+1 2024704047<br /> Investor helpline:+1 2024704047<br /> E-mail: info@usibtrading.org<br /> Website: http://www.usibtrading.org<br /> <br /> Note: US International Bureau For Trading website is an impersonation of the New Zealand Financial Markets Authority (FMA) website<br /> Please note that this is a fake regulator and has no connection to New Zealand FMA.<br /> <br /> Published on this site on 21 November 2011</p> <h2 id="v">V</h2> <h3>Vantage Global Partners&nbsp;</h3> <p>Aikawa Building<br /> 25 B 7th Floor<br /> Nishishinjuku<br /> Shinjuku-ku<br /> 6-5-1<br /> Tokyo<br /> JAPAN</p> <p>Phone: +81 345 884 017<br /> Fax: +81 345 884 020<br /> Email: clientservices@vantageglobalpartners.com, info@vantageglobalpartners.com<br /> Website: www.vantageglobalpartners.com</p> <p>James Martins - associated individual<br /> Michael Klein - associated individual<br /> Peter Louw - associated individual</p> <p>Published on this site September 2010</p> <h3>Vantage International Management Group Inc</h3> <p>Times Square Building<br /> 12th Floor, Unit 12-04B<br /> 246 Sukhumvit Road<br /> Klongtoey<br /> Bangkok 10110<br /> THAILAND</p> <p>Published on this site September 2001</p> <h3>VantagePro Asset Management</h3> <p>Level 7, Wakamatsu Building<br /> 3-3-6 Nihonbashi-Honcho, Chuo-Ku<br /> Tokyo 103-0023<br /> JAPAN</p> <p>Tel: +81 3 6202 2913<br /> Fax: +81 3 6202 2912<br /> Associated individual: Richard Weller<br /> Website: www.vantagepro.jp<br /> Email: richard.weller@vantagepro.jp</p> <p>Published on this site February 2010</p> <h3>VIP World Asset Management Co</h3> <p>Shirlaw House<br /> Shirley Street<br /> P O Box SS-19084<br /> Nassau<br /> THE BAHAMAS</p> <p>Associated individual: Joseph Santeramo</p> <p>Published on this site October 2000</p> <h3><a id="Vision Continental Consultants Limited (" name="Vision Continental Consultants Limited ("></a>Vision Continental Consultants Limited ("VCC")</h3> <p>Level 28 Al Habtoor Business Tower<br /> Dubai Marina, Dubai<br /> UNITED ARAB EMIRATES<br /> <br /> Published on this site December 2012</p> <h3><a id="Vision Continental services Limited" name="Vision Continental services Limited"></a>Vision Continental services Limited</h3> <p>Level 41, Emirates Towers<br /> Sheikh Zayed Road, Dubai<br /> UNITED ARAB EMIRATES<br /> P.O. Box 31303<br /> <br /> Telephone numbers:<br /> New Zealand: 0800 452 911<br /> US &amp; Canada: + 1 800 982 0680<br /> Worldwide: + 1 800 982 0680<br /> <br /> E-mail addresses:<br /> sales@vccmarkets.com<br /> info@vccmarkets.com<br /> compliance@vccmarkets.com<br /> alex.fuller@vccmarkets.com<br /> james.farrington@vccmarkets.com<br /> <br /> Website: http://www.vccmarkets.com/<br /> <br /> Published on this site December 2012</p> <h3><strong><a id="Vista International Services Limited" name="Vista International Services Limited"></a>Vista International Services Limited</strong></h3> <p>14 Jelicich Court, Henderson<br /> Waitakere, 0612, New Zealand</p> <p>Phone: (64) 918 0394<br /> Email: <a href="mailto:cs@vista-services.org">cs@vista-services.org</a><br /> Website: <a href="http://www.vistaservices.org/">www.vistaservices.org/</a></p> <p>Published on this site July 2012&nbsp;</p> <h2 id="w">W</h2> <h3>Warren and Baker</h3> <p>Otemachi First Square East Tower 4F<br /> 1 - 5 - 1 Otemachi<br /> Chiyoda-ku<br /> Tokyo 100-0004<br /> JAPAN</p> <p>Associated individuals: Frank Raul, William H. Warren, James Rayburn</p> <p>Published on this site October 2003</p> <h3>Webster Acquisitions</h3> <p>29th floor<br /> One Canada Square<br /> Canary Wharf<br /> LONDON E14 5DY</p> <p>Associated individual: Stephen Larson</p> <p>Published on this site November 2004</p> <h3>Weiss Rifkin &amp; Partners</h3> <p>710 West 14th Street<br /> Austin, TX78701<br /> USA</p> <p>Tel: +1 512 696 1547<br /> Fax: +1 512 532 6552</p> <p>Website: www.weissrifkinpartners.com<br /> Email: info@weissrifkinpartners.com</p> <p>Associated individuals: Mark Hamilton, Michael Fox</p> <p>Working in conjunction with Janco Lazard Transfer Company and EquiAsia</p> <p>Published on this site May 2011</p> <h3>West Golden Capital</h3> <p>Level 14 &amp; 15, Prudential Tower<br /> 30 Cecil Street<br /> Singapore 049712<br /> Fax: +65 6491 5143<br /> Email: support@westgoldencapital.com<br /> Website: www.westgoldencapital.com</p> <p>Associated individuals: Ronald Nicholson, Shaun Vincent, Brian O'Connor and Lourens Waller</p> <p>Published on this site March 2010</p> <h3>The West Group</h3> <p>Glockengieberwall 17<br /> Hamburg<br /> GERMANY 20095</p> <p>Associated individual: Doug Mason</p> <p>Published on this site March 2005</p> <h3>West Pac Inc.</h3> <p>Published on this site November 2006</p> <h3>Westernfield Holdings Inc.</h3> <p>Shinjuku Park Tower S 20/F<br /> 3-7-1 Nishi-Shinjuku<br /> Shinjuku-ku Tokyo 163-1035<br /> JAPAN<br /> Phone + 81-345209532<br /> Fax + 81-344966474<br /> Email info@western-field.com<br /> Website www.western-field.com</p> <p>Associated individuals: Alex Barclay, Anthony Barling</p> <p>Published on this site February 2010</p> <h3>Western Equities Corporation</h3> <p>Manhattan Business Centre, 15th Floor<br /> 410 Park Avenue<br /> New York NY10022<br /> USA</p> <p>Tel: + 1 646 360 1663<br /> Fax: + 1 914 462 3791<br /> Email: infodesk@westernequitiescorp.com<br /> Website: www.westernequitiescorp.com</p> <p>Associated individual: Kenneth Logan</p> <p>Published on this site March 2010</p> <h3>Westgate Capital Management</h3> <p>UNITED STATES OF AMERICA</p> <p>The Westgate Capital Management listed here has stolen the identity of a legitimate firm in the United States. The legitimate Westgate Capital Management is located at One Blue Plaza, 11th floor, Pearl River, NY 10965. They can be contacted on the phone at +1 845 620 1818 or by fax +1 845 620 6868.</p> <p>Published on this site April 2008</p> <h3>Whitby Dumas</h3> <p>130 Cromwell Street<br /> LONDON SW5 OBW</p> <p>Published on this site 04 June 2004</p> <h3>Whitman Lloyds and Associates Mergers and Acquisitions</h3> <p>70 West Madison Street<br /> Chicago<br /> IL 60602-4270<br /> UNITED STATES OF AMERICA</p> <p>Published on this site March 2006</p> <h3>Whitman Wright &amp; Associates</h3> <p>1886 Steeles Avenue west, Suite 201 Concord<br /> Ontario<br /> CANADA L4K 3E9</p> <p>Published on this site 04 June 2004</p> <h3>The Williams Group</h3> <p>29 Harley Street<br /> London W1G 9QR</p> <p>Associated individual: William Edwards</p> <p>Published on this site November 2004</p> <h3>Worldwide Investors Management Inc</h3> <p>Suites 303 and 305<br /> Valero Plaza<br /> 124 Valero Street<br /> Salcedo Village<br /> Makati<br /> Manila<br /> PHILIPPINES</p> <p>Associated individuals: Chase Trek, Ramiro Yabut, Christian Dupont, Richard Austin, Nathan Logan, Amador Pastrana, Toby Forster and Peter Lawson.</p> <p>Published on this site October 2000</p> <h3>Worldwide Service Inc.</h3> <p>322-2906 West Broadway Avenue<br /> Vancouver, British Columbia<br /> CANADA</p> <p>Associated individual: Jeffery Diamond</p> <p>Published on this site July 2004</p> <h2 id="x">X</h2> <h3>The Xenon Group</h3> <p>979 King's Road<br /> Island East<br /> HONG KONG-2761</p> <p>Published on this site August 2006</p> <h2 id="y">Y</h2> <h3>Younger &amp; Hausmann Private Equity</h3> <p>105 Cecil Street<br /> # 106 - 01 The Octagon<br /> SINGAPORE 069534</p> <p>Published on this site February 2005</p> <h3>Youngson International Holdings Limited</h3> <p>45/F 1 Exchange Square<br /> 8 Connaught Place<br /> HONG KONG</p> <p>Published on this site July 2005</p> <h2 id="z">Z</h2> <h3>Zeus Enterprises</h3> <p>86 Queens Road<br /> Central<br /> HONG KONG</p> <p>Published on this site November 2005</p></div>http://www.fma.govt.nz/help-me-invest/investing-basics/goals-and-risk-tolerance/2013-06-05T09:25:40+13:00Financial Markets Authority<div id="teaser-text">Knowing your goals, timing and your appetite for risk will determine your choice of investment.</div><div id="body"><h2><strong>Get to know yourself</strong></h2> <p>Everybody is different. &nbsp;To choose the right investment strategy, you need to be clear about your own needs and what you are trying to achieve.<br /> <br /> Speaking to a financial adviser can help get you started because there are lots of things to think about.<br /> <br /> Start by setting your goals. Then think about your investment timeframe - when do you want to spend the money? Then think about your attitude to risk. Knowing these things will help you identify what types of investment are suitable for you.</p> <ul> <li><a href="#Set your goals and timeframes">Set your goals and timeframes</a></li> <li><a href="#How much time have you got?">How much time have you got?</a></li> <li><a href="#How do you feel about risking your money?">How do you feel about risking your money?</a></li> <li><a href="#How much risk should you accept?-2">How much risk should you accept?<strong>&nbsp;</strong></a></li> <li><a href="#What we mean by growth, balanced and conservative">What we mean by growth, balanced and conservative</a></li> <li><a href="# Case study: Caroline plays it safe">Case study: Caroline plays it safe</a><strong><a href="# Case study: Caroline plays it safe"><br /> </a></strong></li> </ul> <div> <h2><a id="Get to know yourself Everybody is different. To choose the right investment strategy, you need to be clear about your own needs and what you are trying to achieve. Speaking to a Financial Adviser can help get you started because there are lots of things to think about. Start by setting your goals. Then think about your investment timeframe - when do you want to spend the money? Then think about your attitude to risk. Knowing these things will help you identify what types of investment are suitable for you. &bull; Set your goals and timeframes &bull; How much time have you got? &bull; How do you feel about risking your money? &bull; How much risk should you accept? Set your goals and timeframes Investing is about putting your money to work to achieve your personal goals. So start by identifying what you want to achieve by when. Choose goals that are realistic and ones that you can set a dollar value against. For example; if you were saving for a deposit on a house think about how much you can afford to put away. Setting goals forces you to plan, and having a clear goal -ideally written down - helps motivate you to stick to your plan. Think about your goals first. Perhaps you are saving for a holiday, for a home deposit or to pay for a child's education. Or your goal may be to boost retirement savings. You can see that different goals have different timeframes. You may only have 6 months or a year to save for a holiday but if you are saving for your retirement you might have 25 or 50 years. Setting a timeframe for each goal helps you stay on track. You may have several goals, each with a different timeframe. Allocating a timeframe to each investment goal will enable you to think about how much you can afford to invest and how long it will realistically take you to reach your goal. Check Sorted's website to find out more about setting financial goals or speak to a Financial Adviser to help you get started. Sample goals and timeframes Goal Short term (up to 3 years) Medium term (4-9 years) Long term (more than 9 years) Holiday $3000 Save for child's education $40,000 Boost retirement savings $100,000 When do you want to spend the money? In 2 years Starting in 5 years Starting in 25 years How much time have you got? Setting a timeframe for each goal will help you work out how much investment risk you can afford to take. If you are saving money over a short period of time it may be tempting to use higher-risk investments because they often come with higher returns. But growth investments, such as shares, are not appropriate for short investment timeframes as their value might drop suddenly, just when you need your money. But if you are saving for a long-term goal, such as retirement in 25 years, then you have time to ride out the ups and downs in the market. This means you can take on a higher level of investment risk. pHow do you feel about risking your money? Risk tolerance also depends on your ability to cope with dips in the value of your investments. Factors that can influence your risk tolerance include your age, your financial and emotional ability to recover from capital losses and your health. To decide where you fit on the risk tolerance scale, ask yourself this question: " name="Get to know yourself Everybody is different. To choose the right investment strategy, you need to be clear about your own needs and what you are trying to achieve. Speaking to a Financial Adviser can help get you started because there are lots of things to think about. Start by setting your goals. Then think about your investment timeframe - when do you want to spend the money? Then think about your attitude to risk. Knowing these things will help you identify what types of investment are suitable for you. &bull; Set your goals and timeframes &bull; How much time have you got? &bull; How do you feel about risking your money? &bull; How much risk should you accept? Set your goals and timeframes Investing is about putting your money to work to achieve your personal goals. So start by identifying what you want to achieve by when. Choose goals that are realistic and ones that you can set a dollar value against. For example; if you were saving for a deposit on a house think about how much you can afford to put away. Setting goals forces you to plan, and having a clear goal -ideally written down - helps motivate you to stick to your plan. Think about your goals first. Perhaps you are saving for a holiday, for a home deposit or to pay for a child's education. Or your goal may be to boost retirement savings. You can see that different goals have different timeframes. You may only have 6 months or a year to save for a holiday but if you are saving for your retirement you might have 25 or 50 years. Setting a timeframe for each goal helps you stay on track. You may have several goals, each with a different timeframe. Allocating a timeframe to each investment goal will enable you to think about how much you can afford to invest and how long it will realistically take you to reach your goal. Check Sorted's website to find out more about setting financial goals or speak to a Financial Adviser to help you get started. Sample goals and timeframes Goal Short term (up to 3 years) Medium term (4-9 years) Long term (more than 9 years) Holiday $3000 Save for child's education $40,000 Boost retirement savings $100,000 When do you want to spend the money? In 2 years Starting in 5 years Starting in 25 years How much time have you got? Setting a timeframe for each goal will help you work out how much investment risk you can afford to take. If you are saving money over a short period of time it may be tempting to use higher-risk investments because they often come with higher returns. But growth investments, such as shares, are not appropriate for short investment timeframes as their value might drop suddenly, just when you need your money. But if you are saving for a long-term goal, such as retirement in 25 years, then you have time to ride out the ups and downs in the market. This means you can take on a higher level of investment risk. pHow do you feel about risking your money? Risk tolerance also depends on your ability to cope with dips in the value of your investments. Factors that can influence your risk tolerance include your age, your financial and emotional ability to recover from capital losses and your health. To decide where you fit on the risk tolerance scale, ask yourself this question: "></a> <a id="Set your goals and timeframes" name="Set your goals and timeframes"></a>Set your goals and timeframes</h2> <p>Investing is about putting your money to work to achieve your personal goals. So start by identifying what you want to achieve by when. Choose goals that are realistic and ones that you can set a dollar value against. For example; if you were saving for a deposit on a house think about how much you can afford to put away.&nbsp; Setting goals forces you to plan, and having a clear goal -ideally written down - helps motivate you to stick to your plan.<br /> <br /> Think about your goals first. Perhaps you are saving for a holiday, for a home deposit or to pay for a child's education. Or your goal may be to boost retirement savings. You can see that different goals have different timeframes. You may only have 6 months or a year to save for a holiday but if you are saving for your retirement you might have 25 or 50 years.<br /> <br /> Setting a timeframe for each goal helps you stay on track. You may have several goals, each with a different timeframe. Allocating a timeframe to each investment goal will enable you to think about how much you can afford to invest and how long it will realistically take you to reach your goal.<strong><br /> <br /> Check Sorted's website to find out more about</strong> <a href="https://www.sorted.org.nz/a-z-guides/setting-goals?next-steps=yes&amp;from=/calculators/goals-worksheethttp://fmawpddms02/OTCS/llisapi.dll?func=ll&amp;objId=654028&amp;objAction=versions&amp;nexturl=%2FOTCS%2Fllisapi%2Edll%3Ffunc%3Dll%26objaction%3Doverview%26objid%3D654028"> <strong>setting financial goals</strong></a> <strong>or speak to a financial adviser to help you get started.<br /> <br /> Sample goals and timeframes</strong></p> </div> <table border="0"> <tbody> <tr> <td> <p><strong>Goal</strong></p> </td> <td> <p><strong>Short term<br /> (up to 3 years)</strong></p> </td> <td> <p><strong>Medium term<br /> (4-9 years)</strong></p> </td> <td> <p><strong>Long term<br /> (more than 9 years)</strong></p> </td> </tr> <tr> <td> <p>Holiday</p> </td> <td> <p>$3000</p> </td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr> <td> <p>Save for child's education</p> </td> <td>&nbsp;</td> <td> <p>$40,000</p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p>Boost retirement savings</p> </td> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p>$100,000</p> </td> </tr> <tr> <td> <p>When do you want to spend the money?</p> </td> <td> <p>In 2 years</p> </td> <td> <p>Starting in 5 years</p> </td> <td> <p>Starting in 25 years</p> </td> </tr> </tbody> </table> <div> <h2><br /> <a id="How much time have you got?" name="How much time have you got?"></a>How much time have you got?</h2> </div> <p>Setting a timeframe for each goal will help you work out how much investment risk you can afford to take.<br /> <br /> If you are saving money over a short period of time it may be tempting to use higher-risk investments because they often come with higher returns. But growth investments, such as shares, are not appropriate for short investment timeframes as their value might drop suddenly, just when you need your money.<br /> <br /> But if you are saving for a long-term goal, such as retirement in 25 years, then you have time to ride out the ups and downs in the market. This means you can take on a higher level of investment risk.</p> <h2><br /> <a id="How do you feel about risking your money?" name="How do you feel about risking your money?"></a><a id="How do you feel about risking your money?" name="How do you feel about risking your money?"></a>How do you feel about risking your money?</h2> <p>Risk tolerance also depends on your ability to cope with dips in the value of your investments. Factors that can influence your risk tolerance include your age, your financial and emotional ability to recover from capital losses and your health.<br /> <br /> To decide where you fit on the risk tolerance scale, ask yourself this question: "How would I feel if I woke up tomorrow and found my investment balance had dropped from $10,000 to $7,000 within a month of investing it?"<br /> <br /> If this drop would cause you to worry a lot and pull out of the investment, then a high risk investment is not for you. This is because you could pull out at the worst possible time and actually compound your losses.<br /> <br /> If, on the other hand, a drop in the market causes you to start looking for bargain buys, then you are probably very comfortable with market fluctuations. You will be comfortable with a higher level of investment risk.<br /> <br /> Your comfort level could be somewhere in between.</p> <h2><br /> <a id="How much risk should you accept?-2" name="How much risk should you accept?-2"></a>How much risk should you accept?</h2> <p>Your overall risk tolerance is the lesser of the risk you are comfortable with and the risk your timeframe will allow you to take. Use the investment grid below to work out where you fit on the investment risk scale. Cash is low risk and growth is high risk.<br /> <br /> Your partner may not have the same risk tolerance as you. If you are considering a joint investment, you may need to compromise on an investment option you are both comfortable with.<strong>&nbsp;</strong></p> <h3><strong>How comfortable are you?&nbsp;&nbsp;</strong></h3> <p><strong><em><img src="/media/1701035/investment_picture_500x215.jpg" width="500" height="215" alt="Investment table" style="width: 522px; height: 223px;" src="/media/1701035/investment_picture.jpg" title="Investment table"/><br />&nbsp;</em></strong></p> <p>&nbsp;</p> <h2><strong><a id="What we mean by growth, balanced and conservative" name="What we mean by growth, balanced and conservative"></a><a id="What we mean by growth, balanced and conservative" name="What we mean by growth, balanced and conservative"></a>What we mean by growth, balanced and conservative</strong></h2> <p>When we use 'growth', 'balanced', 'conservative' and 'cash' here, this is what we mean.</p> <ul> <li>Growth - invests 70-90% in shares or property. Aims for higher average returns over the long term.</li> <li>Balanced - invests 50-70% in shares or property, and the rest in fixed interest and cash. Aims for reasonable returns, but less than growth funds to reduce risk of losses in bad years.</li> <li>Conservative - invests 30-50% in shares and property with the majority in fixed interest and cash. Aims to reduce the risk of loss and therefore accepts a lower return over the long term.</li> <li>Cash - invests 100% in deposits with New Zealand deposit-taking institutions. Aims for stable returns over a short term.</li> </ul> <p>Different funds may have different names for their portfolios and asset allocations may not be the same as ours. Read the fund's Investment Statement or Prospectus to find out how money will be allocated for each investment option.<strong>&nbsp;</strong></p> <p><strong>Check</strong> <a href="https://www.sorted.org.nz/calculators/risk-recommender"><strong> Sorted's risk recommender</strong></a> <strong>to help you work out how much risk you can afford to take or speak to a financial adviser.</strong></p> <h2><strong><br /> <a id=" Case study: Caroline plays it safe" name=" Case study: Caroline plays it safe"></a> Case study: Caroline plays it safe</strong></h2> <p>Caroline is studying and working part-time. She is saving for a post-graduation trip but she is extremely cautious because she doesn't want any risk of losing her capital. She is happy to accept a steady rate of return from a high interest online savings account.<br /> <br /> "I may not be getting the same returns as a share investment in the good times but I want to take this holiday when I graduate in 2 years time, so preserving my capital is my main concern. The share market? Not at the moment. I don't have time to get back any losses."<em>&nbsp;</em></p> <h6><em>Reproduced and adapted with permission of ASIC.&nbsp; Source: MoneySmart website</em> <em><a href="http://www.moneysmart.gov.au">www.moneysmart.gov.au</a></em> <em>&nbsp;31 August 2012.</em><strong>&nbsp;</strong></h6></div>http://www.fma.govt.nz/help-me-invest/getting-the-right-information/brochures/2013-04-23T11:12:17+13:00Financial Markets Authority<div id="teaser-text">Key things consumers should consider</div><div id="body"><p><a href="/media/1520025/kiwisaver-are-you-getting-the-right-advice.pdf"><img src="/media/1624782/kiwisaver-are-you-getting-the-right-advice_136x289.jpg" width="136" height="289" alt="KiwiSaver Are You Getting The Right Advice"/></a> <a href="/media/1520016/be_wary_of_low_ball_offers.pdf"><img src="/media/1624767/be-wary-of-low-ball-offers_136x289.jpg" width="136" height="289" alt="Be Wary Of Low Ball Offers"/></a> <a href="/media/1520013/5-questions-to-ask-your-financial-adviser.pdf"><img src="/media/1624762/5-questions-to-ask-your-financial-adviser_136x290.jpg" width="136" height="290" alt="5 Questions To Ask Your Financial Adviser"/></a> <a href="/media/1520019/confidence-comes-from-sound-advice.pdf"><img src="/media/1624772/confidence-comes-from-sound-advice_136x290.jpg" width="136" height="290" alt="Confidence Comes From Sound Advice"/></a> <a href="/media/1520022/how-to-spot-an-investment-scam.pdf"><img src="/media/1624777/how-to-spot-an-investment-scam_136x290.jpg" width="136" height="290" alt="How To Spot An Investment Scam"/></a><a href="/media/1625831/a-director-s-guide.pdf"> </a><a href="/media/1626304/a-director-s-guide.pdf"><img src="/media/1625834/a-director-s-guide_136x290.jpg" width="136" height="290" alt="A Director's Guide"/></a></p></div>http://www.fma.govt.nz/help-me-invest/getting-financial-advice/disclosure-statements/2013-03-27T18:37:43+13:00Financial Markets Authority<div id="teaser-text">Information about the different types of disclosure statements and when you should be given one.</div><div id="body"> <p>If you are receiving financial advice, your adviser must give you a disclosure statement. This is available to you free of charge.</p> <p>If your advice is from an Authorised Financial Adviser (AFA), your adviser's disclosure statement must be in two parts.</p> <h2>AFA Primary Disclosure</h2> <p>The primary disclosure document will give you information to help you decide whether or not to use the adviser.</p> <p>The document will tell you their contact details, describe the services they offer, provide a general description of how they are paid and provide other information about their obligations. The document will also tell you about their complaints procedure and the name of the dispute resolution scheme the adviser belongs to.</p> <p>The primary disclosure is in a set format with compulsory questions that must be answered by the adviser. This means you can read the disclosure statements from different Authorised Financial Advisers (AFAs) and easily compare what each adviser can offer you.</p> <h2>AFA Secondary Disclosure</h2> <p>The secondary disclosure document describes the specific nature of the service your adviser will provide, what it will cost and how you will be charged. Since this will vary depending on the service you are seeking, there is no set format for this document. But the adviser must make sure they have provided you with sufficient information for you to decide whether to use their services.</p> <h2>QFE Adviser Disclosure</h2> <p>Qualifying Financial Entities don't have to follow a set format for their disclosure statements but they should give you an equivalent level of information.</p> <p>This means you should expect their disclosure statement to tell you about the services they offer, how they are regulated, how to complain and how the adviser will be paid.</p> <h2>Registered Financial Adviser (RFA) Disclosure</h2> <p>RFAs can't give investment advice so they are not required to tell you how they will be paid. However, they must still disclose certain information to you such as the services they provide, how they are regulated and the name of the dispute resolution scheme they belong to.</p> </div>http://www.fma.govt.nz/help-me-invest/kiwisaver/2013-03-27T18:37:43+13:00Financial Markets Authority<div id="teaser-text">Selecting a KiwiSaver provider is an important decision - each scheme performs differently and your savings are not guaranteed by the government.</div><div id="body"> <h3>Click <a href="/keep-updated/reports-and-papers/kiwisaver-report-for-the-year-ended-30-june-2012/"> here</a> to view a copy of the KiwiSaver Report for the year ended 30 June 2012.</h3> <p>&nbsp;</p> <p>KiwiSaver is a type of <a href="http://www.fma.govt.nz/help-me-invest/types-of-investments/managed-funds/"> managed fund</a>. It's specifically designed for people who want to save and invest to provide for their retirement.</p> <p>Many organisations offer KiwiSaver schemes, and most have several schemes you can choose from. Choosing a scheme is an important decision because each scheme performs differently and your savings are not guaranteed by the government.</p> <p>The best scheme for you will depend on a number of factors, including your age. In general, the younger you are, the more shares and growth investments you should have in your chosen KiwiSaver scheme.</p> <p>Below are five things you should be clear about when making your choice. Plain English information about these issues should be in the investment statement for the scheme. Every scheme must have an investment statement and it should be given to you before you join the scheme. Read this document before you invest.</p> <h2>Understand what you are committing to</h2> <p>Joining KiwiSaver is a long-term commitment and there are different levels of risk involved with different schemes. Generally speaking, the higher the proportion of shares and other growth investments in your KiwiSaver scheme, the higher your expected returns will be. The younger you are, the more growth investments you may wish to have in your scheme because growth investments generally perform best when held over many years. As you approach retirement, you may wish to increase your proportion of lower-risk fixed interest investments. Before you join, you should fully understand what sorts of investments the scheme will invest in, how much money you will have to pay into the scheme, what fees will be charged, and when and how you can access your savings in the future.</p> <h2>Not be pressured to sign up, or offered some reward</h2> <p>It's important to sign up because you want to - not because you're being pressured by the salesperson. It's against the law to sell KiwiSaver door-to-door. Also be wary if the KiwiSaver scheme is being sold as part of a bundle of other services or with a free offer attached. This isn't against the law but it can be confusing and mean you don't understand what you're getting into.</p> <h2>Receive clear and understandable reports of investment performance</h2> <p>Every KiwiSaver provider must report the performance of their investments separately from the overall performance of their KiwiSaver fund. This is because other factors can affect the fund's performance, like fees. These other factors mustn't be used to create a false impression that the KiwiSaver provider is more successful at investing than it really is.</p> <h2>See fair comparisons with the performance of other schemes</h2> <p>Comparisons between the performance of different KiwiSaver schemes in marketing materials must be calculated on the same basis. Otherwise the information can be misleading. The source of the calculations must also be stated, and it must be made clear if the calculations were prepared by the organisation that prepared the marketing material.</p> <h2>Be told how your money will be invested</h2> <p>Your KiwiSaver provider must be clear about the kind of investments they intend to make, so you can decide if you are comfortable with how risky these investments are. Providers must give their schemes names that reflect their investment intentions.</p> <p>For more information see IRD's <a href="http://www.kiwisaver.govt.nz/new/about/how/">KiwiSaver website</a> or the <a href="http://www.sorted.org.nz/home/sorted-sections/kiwisaver">Sorted website</a>.</p> </div>http://www.fma.govt.nz/help-me-invest/getting-financial-advice/kinds-of-advice/2013-03-27T18:37:42+13:00Financial Markets Authority<div id="teaser-text">Kinds of advice</div><div id="body"> <p>To get the best out of your investments, it's important to ask questions to help you make informed decisions.&nbsp; Consider getting the right kind of advice to suit your needs.<br /> <br /> There are three different types of information or advice you can receive.&nbsp; Use the descriptions below to help you decide what kind of advice you want - not all advisers will offer all kind.&nbsp; For information about KiwiSaver, use our brochure <a href="/media/1520025/kiwisaver_are_you_getting_the_right_advice.pdf"> here</a> to get the right kind of advice.</p> <h3>1. Personalised Advice</h3> <p>You will receive advice tailored to your personal circumstances.<br /> <br /> Your adviser can help you weigh up whether you should invest in a product and whether that product is suitable for you.&nbsp; As you will be receiving personalised financial advice, you can expect that your adviser has taken into account your personal situation and some of your goals.&nbsp; Your adviser will give you an opinion about whether a particular product is right for you.&nbsp; You should then consider this advice.</p> <h3>2. Class Advice</h3> <p>You will receive generic or general advice.<br /> <br /> In some cases, the adviser or sales representative may give you class advice.&nbsp; The adviser will be able to advise you about what is usually suitable for people in your group or 'class'.&nbsp; They cannot give you advice about your own individual needs and their advice won't take into account your personal situation.<br /> <br /> You can use the generic advice to form your own opinion about whether a product is right for you personally.</p> <h3>3. No Advice</h3> <p>You will only receive general information.<br /> <br /> The sales representative will be able to answer any general questions you have and provide you with some basic factual information about a product.&nbsp; They cannot give you any advice and you will receive information only.<br /> <br /> You will need to form your own view about whether the product is right for you.<br /> <br /> To find out who can provide personalised or class advice, click <a href="/help-me-invest/getting-financial-advice/types-of-advisers/">here</a>. Anyone can provide you with general information.</p> </div>http://www.fma.govt.nz/help-me-invest/getting-financial-advice/choosing-an-adviser/2013-03-27T18:37:42+13:00Financial Markets Authority<div id="teaser-text">Do some research and talk with a few advisers before you decide which one to work with.</div><div id="body"> <p>Choosing your adviser is an important personal matter. Do some research and consider talking with a few advisers before you decide which one to work with.</p> <p>We've developed some questions you can ask financial advisers, and we offer some ideas about what to listen for. If you are receiving personalised investment advice, you should be able to find some of this information in an adviser's disclosure statement. You can compare disclosure statements from advisers.</p> <p><br /> Before choosing your adviser, ask several financial advisers as many questions as you need to until you're confident you completely understand how they can help you.</p> <ul> <li><a href="#Advice type">Advice type</a></li> <li><a href="#Adviser type">Adviser type</a></li> <li><a href="#puts-clients-needs-first">Puts client's needs first</a></li> <li><a href="#reasonable-fees">Reasonable fees</a></li> <li><a href="#professional-standards">Professional standards</a></li> <li><a href="#professional-experience">Professional experience</a></li> <li><a href="#dispute-resolution">Dispute resolution</a></li> </ul> <h2><a id="Advice type" name="Advice type"></a>Advice Type</h2> <h3>Q: What type of advice or service do you provide?</h3> <p><strong>Listen for:</strong> Whether the service is information only (information is not considered advice), class advice, or personalised advice. Personalised advice is tailored to your own situation, and class advice is suitable for most people in a group or class. See our information and the different types of <a href="/help-me-invest/getting-financial-advice/kinds-of-advice/">advice</a> to help give you a better understanding.</p> <h2><a id="Adviser type" name="Adviser type"></a>Adviser type</h2> <h3>Q: What type of financial adviser are you?</h3> <p><strong>Listen for:</strong> AFA (Authorised Financial Adviser) or QFE adviser if you want personalised investment advice. Both these types of advisers have been licensed, and are monitored, by the Financial Markets Authority. Ask them what types of products they are licensed to advise you on as there are different categories of AFA and QFE licence.<br /> <br /> If they are a registered financial adviser individual, or work for a registered financial adviser entity, (but are not an AFA or QFE) they are not licensed or monitored by the Financial Markets Authority. Registered individuals can give you personalised advice on simpler products such as insurances, mortgages and term deposits. Registered individuals or entities can provide you with 'class' or generic advice on investment products such as KiwiSaver or managed funds.<br /> <br /> Find out more about <a href="/help-me-invest/getting-financial-advice/types-of-advisers/">types of financial advisers</a> and <a href="/help-me-invest/getting-financial-advice/kinds-of-advice/">kinds of financial advice</a>.</p> <h3>Q: Do you have any adviser qualifications?</h3> <p><strong>Listen for:</strong> A description of how their qualifications relate to the financial services they provide. For example, an AFA is required to meet a minimum level of competence set out in their Code of Professional Conduct.</p> <h2 id="puts-clients-needs-first">Puts Client's Needs First</h2> <h3>If you are looking for personalised advice, consider asking:</h3> <h3>Q: What information will you need to be able to provide me with financial advice that is tailored to suit me?</h3> <p><strong>Listen for:</strong> Lots of questions about your circumstances and needs. For instance, they should ask about your income and expenses, what you own and what you owe, your dependants and your financial goals, both short and long term and your appetite for risk. They should discuss your insurance needs and things such as estate planning or business succession planning if these topics are relevant to you.</p> <h3>Q: How will you deal with a range of different financial objectives for my individual goals?</h3> <p><strong>Listen for:</strong> Will help you prioritise your financial objectives, explain and discuss choices with you and develop a strategy to help you achieve your objectives.</p> <h3>Q: Am I a retail or wholesale investor?</h3> <p><strong>Listen for:</strong> Wholesale investors are defined in the Financial Advisers Act and can include entities such as family trusts. Your adviser needs to explain what a wholesale investor is and whether you are regarded as one. Wholesale investors have less protection than retail clients, so you need to understand the implications of being a wholesale investor. You can opt out of being a wholesale investor if you wish.</p> <h3>If you are looking for generic or 'class' advice, consider asking:</h3> <h3>Q: What 'class' or group of investors is your advice suitable for?</h3> <p><strong>Listen for:</strong> A description of the general characteristics of people like you with similar circumstances and requirements. This is sometimes referred to as your 'class' or group that your adviser has taken into account to advise you, e.g. your age group and tolerance for risk.</p> <h2 id="reasonable-fees">Reasonable Fees</h2> <h3>Q: How are you paid - via fees or commissions? How much is your advice likely to cost?</h3> <p><strong>Listen for:</strong> If the adviser charges a fee-for-service, it is easier to know how much you are paying if it is a 'flat dollar' fee such as a fee for service arrangement. If a 'percentage of assets' fee is charged, make sure you are clear on exactly how much you are paying, when this is to be paid, or if it is an on-going fee, how often it is to be paid. Make sure they give a clear explanation of how much they expect to receive, now and in future years (regular ongoing costs). If you are receiving personalised investment advice (only available from an AFA or QFE adviser), a general description of how they will be paid will be given to you in the adviser's primary disclosure statement. Once you've chosen an adviser, and they've made financial product recommendations, they will follow up with specific payment details in a secondary disclosure statement.</p> <h3>Q: If they charge ongoing fees, what will I get for these fees?</h3> <p><strong>Listen for:</strong> Regular reviews of your circumstances and investment portfolio. Re-balancing of your investment portfolio if necessary. If you are paying ongoing fees, you should expect to have reasonable access to your adviser when you need questions answered or want to discuss a financial issue with them, and they should schedule regular reviews with you.</p> <h2 id="professional-standards">Professional Standards</h2> <h3>Q: How do you keep up to date with changes that might affect your clients?</h3> <p><strong>Listen for:</strong> Participants in regular Continuing Professional Development (CPD) or other relevant training. Is a member of an industry organisation such as: Institute of Financial Advisers (IFA), Professional Advisers Association (PAA), or SIFA.</p> <h3>Q: Do you have to abide by a professional code of conduct?</h3> <p><strong>Listen for:</strong> AFAs should tell you about their <a title="Code of Professional Conduct for AFAs" href="/help-me-comply/financial-advisers/your-obligations/authorised-financial-advisers-obligations/code-of-professional-conduct-for-afas/">Code of Professional Conduct</a>. This sets out the minimum standards of competence, knowledge and skills, ethical behaviour and client care. It also specifies their continuing professional training. AFAs can be disciplined for breaches of the Code.</p> <p>QFE advisers do not have to follow the Code but their QFE should have established systems and procedures at an equivalent level to the Code.</p> <p>Registered financial advisers are not required to follow a code of conduct.</p> <h2 id="professional-experience">Professional Experience</h2> <h3>Q: How long have you been giving financial advice?</h3> <p><strong>Listen for:</strong> If they have only been giving advice for a short time, ask whether they receive supervision or oversight from a more experienced colleague or their employer.</p> <h3>Q: What type of clients do you mostly see? What are the majority of your clients trying to achieve?</h3> <p><strong>Listen for:</strong> It's helpful if the adviser deals with people in a similar situation to you, for example, young families, retirees or small businesses, as they will have experience in the type of advice you are looking for.</p> <h3>Q: What products do you advise on? What about the products I'm currently invested in?</h3> <p><strong>Listen for:</strong> Is their product range restricted to a certain type of product or is it limited to products from a small number of product providers? Are they aligned with one product provider only? Can they compare different products? A bigger range of products can mean more choice for you. This could also be important for any existing products you have, such as your KiwiSaver fund or managed funds. Can they provide advice in relation to your current funds or investments, for example, even if it is not on their approved product list? If they are recommending disinvestment from any products you currently hold, make sure they tell you what the risks and benefits are in doing this.</p> <h3>Q: How do you establish a client's tolerance for risk?</h3> <p><strong>Listen for:</strong> Use of a risk profiling tool, for example, a comprehensive questionnaire to assess clients' tolerance for risk (also known as a risk profile).</p> <h2 id="dispute-resolution">Dispute Resolution</h2> <h3>Q: How do you deal with customer complaints or disputes?</h3> <p><strong>Listen for:</strong> A clear description of their internal process for handling customer complaints. They must also belong to an external dispute resolution scheme if financial services are provided to retail clients, and the name of the scheme will also be in the adviser's disclosure statement.</p> </div>http://www.fma.govt.nz/help-me-invest/getting-financial-advice/working-with-an-adviser/2013-03-27T18:37:42+13:00Financial Markets Authority<div id="teaser-text">How to prepare for your first meeting. Think about what your adviser’s ongoing role will be.</div><div id="body"> <p>In your first meeting or meetings with an adviser, you'll need to provide detailed information so that the adviser can give you good recommendations.</p> <ul> <li><a href="#think-about-your-situation">Think about your situation</a></li> <li><a href="#provide-relevant-and-full-information">Provide relevant and full information</a></li> <li><a href="#discuss-risk">Discuss risk</a></li> <li><a href="#consider-the-advice">Consider the advice</a></li> </ul> <p>It's up to you to decide whether you want one-off advice or on going service.</p> <ul> <li><a href="#when-you-will-need-ongoing-advice">When you will need on-going advice</a></li> <li><a href="#saying-no-to-ongoing-advice">Saying no to on-going advice</a></li> </ul> <h2 id="think-about-your-situation">Think About Your Situation</h2> <p>Do some advance thinking about what you want to achieve and what your priorities are. The more preparation you do, the better the advice you're likely to get.</p> <p>Take a close look at your financial situation (where relevant to the advice you're seeking). For example, if you want a full financial plan on a range of issues you could start by working out:</p> <ul> <li>What you own - assets including your home, superannuation, car, shares or other investments and personal property</li> <li>Who owns what - for example, are assets owned personally, jointly or in family trusts</li> <li>What you owe - debts including mortgages, loans and outstanding credit card balances</li> <li>Income and expenses - the Sorted website has <a href="http://www.sorted.org.nz/calculators/budgeting">budget calculators</a> that can help</li> <li>What insurance you have and how much cover.</li> </ul> <p>If you're looking for specific advice on only one issue, you will only need to prepare information relevant to that issue.</p> <h3>Set Goals</h3> <p>Ask yourself:</p> <ul> <li>What are my priorities and goals in the short, medium and long-term?</li> <li>What do I need to achieve financially to reach my goals?</li> <li>Who depends on me financially and what do I want to provide for them?</li> </ul> <p>The Sorted website can help you <a href="http://www.sorted.org.nz/home/sorted-sections/set-your-goals"> set goals</a> and work out your <a href="http://www.sorted.org.nz/home/sorted-sections/investing/your-investment-profile"> investment profile.</a></p> <h2 id="provide-relevant-and-full-information">Provide relevant and full information</h2> <p>Give your adviser accurate information. Sometimes your adviser will need very detailed information, especially when giving retirement planning advice. This is because they'll have to consider tax and government retirement entitlements as well as your retirement needs. Your adviser should tell you what information to bring to the meeting such as savings account statements, superannuation account statements and pay slips.</p> <p>If you are not completely honest with your adviser or don't disclose something you don't see as relevant, you could get the wrong advice. Tell your adviser if you can only give limited or incomplete information. They need to know if they have only part of the picture.<br /> <br /> If you're only looking for general advice ('class' advice), your adviser should only ask you for basic information to determine which general group of customers you belong to. You will not need to give full information about yourself if you are only getting general advice.</p> <h2 id="discuss-risk">Discuss Risk</h2> <p>The first or second meeting is a good opportunity for you and the adviser to have a discussion about investment risk. This is sometimes called risk profiling and helps the adviser understand how much investment risk you are willing to accept. Based on the information you provide, the adviser will need to recommend what type of investment is suitable for you based on your risk profile. For more information, see <a title="Risks Involved in Investing" href="/help-me-invest/risks-involved-in-investing/">risks involved in investing</a>.</p> <h2 id="consider-the-advice">Consider the advice</h2> <p>At the end of your first meeting (sometimes it will take a couple of meetings to explore different options), your adviser may go away, do some further research and put together some recommendations. Your adviser must talk you through any recommendations and clearly answer your questions.<br /> <br /> If you are receiving personalised investment advice, your adviser must put any recommendations to you in writing and talk them through with you as well.</p> <p>Your adviser will also give you a disclosure statement. This should be in two parts. The first part will give you information about the adviser, the services they provide and how they are paid. The second part will provide specific detail such as the costs of the services they are recommending, and specific details on how they will be paid for those services and any conflicts they may have.</p> <h3>Read the Paperwork</h3> <p>Take your documents home to read before you agree to anything. Be prepared to set some time aside to go through the advice carefully. It might help to review the advice in stages, beginning with the overall strategy and then moving on to the detail.</p> <h3>Ask Questions</h3> <p>Don't be shy about asking questions. Advisers are required to put your interests first and explain the options clearly. Remember that it's your money and your future. The adviser has only made recommendations that you can accept, reject or ask to be varied. Ultimately, the decision rests with you. See <a title="Making Informed Choices" href="/help-me-invest/getting-the-right-information/">making informed choices</a>.</p> <h3>Moving Your Investments and/or Insurance</h3> <p>Sometimes your adviser may recommend switching existing investments or insurances. If so, make sure you understand the reasons and the benefits, and any disadvantages to you. Ask how many different products your adviser sells and who makes those products. Ask your adviser whether they have compared products made by different product providers. Find out any costs involved in making the switch.</p> <p>Your adviser may suggest moving your current investments to their preferred administrative platform (a master trust or wrap service). Again, check you will benefit from making this change and whether there are fees for making the switch and how the on-going fees compare to your current arrangements.</p> <h2 id="when-you-will-need-ongoing-advice">When You Will Need On-going Advice</h2> <p>If you don't have a lot of time or adequate expertise, or if you don't feel confident managing your own investments, getting on-going support from an adviser can be a good idea.</p> <h3>Review Your Plans Every Year</h3> <p>Review your plan at least once a year to ensure it is still right for you. You may be able to check this yourself. If you want advice, check how much your adviser will charge to do this review for you and what the fee includes. Then you can make an informed decision about whether you want to initiate any reviews or if you're happy to leave it up to the adviser to decide on the frequency of on-going reviews.</p> <h3>When Things Change</h3> <p>Between reviews, keep an eye on whether there are major changes in your circumstances, the market or your investments. There can also be changes to laws that affect superannuation or other entitlements. If you're not sure what these changes mean or whether they will affect you, you can talk it over with your adviser. If you agree to on-going support from your adviser, they should be able to keep you up to date and contact you when changes need to be made.</p> <h2 id="saying-no-to-ongoing-advice">Saying No to On-going Advice</h2> <p>Your financial affairs might be quite simple. In retirement, you may feel comfortable managing your own investments most of the time. If you have enough time and know-how, you may not need to pay an adviser for on-going service.</p> <p>It's up to you whether you want or need on-going service from your adviser.</p> <p>Many advisers are happy to charge a fee for advice and give back to you any on-going commissions they might earn from investment products you purchase. You still have the option of getting advice in the future if your circumstances change.</p> </div>http://www.fma.govt.nz/help-me-invest/getting-financial-advice/types-of-advisers/2013-03-27T18:37:41+13:00Financial Markets Authority<div id="teaser-text">Advisers must now be registered or licensed. Different advisers offer different services.</div><div id="body"> <p>Financial advisers are people who give advice about financial products. They include financial planners, brokers and people working for banks and building societies who provide advice about money and investing.</p> <p>There are different types of financial advisers and this affects the kind of advice they provide and the products they advise on. There are two different kinds of advice you can receive. You can receive personalised advice, tailored to your personal circumstances, or you can receive class advice which means the advice is usually suitable for people in your group or 'class'. For more information about the kinds of information or advice you can receive, click <a href="/help-me-invest/getting-financial-advice/kinds-of-advice/">here</a>.</p> <h2>Authorised Financial Advisers (AFAs)</h2> <p>Have met minimum qualification requirements and must comply with professional standards. They can advise on more complex investment products and can also offer investment management and investment planning services. Their licence will set out the types of products and services they are authorised to offer.</p> <h2>Qualifying Financial Entity advisers (QFE advisers)</h2> <p>Can you personalised advice on simpler products like insurance, bank term deposits, and mortgages and investment products of the entity they are employed by (the QFE) such as KiwiSaver or managed funds.</p> <h2>Individually registered financial advisers</h2> <p>Can give personalised advice on simpler products like insurance, bank term deposits, and mortgages and can also give class advice on investment products, including KiwiSaver.</p> <h2>Registered financial advisers (entities)</h2> <p>Registered financial adviser entities such as companies or banks can give class advice. Their employees or agents may give personalised advice if they are individually registered financial advisers or AFAs.</p> <h2>People who don't have to be licensed advisers</h2> <p>Some people are exempt from the requirements, although in a limited way.</p> <p>Lawyers and chartered accountants who provide you with financial advice as part of the ordinary business of being a lawyer or accountant don't have to be on the register or meet authorisation requirements. They are covered by other laws and regulatory regimes for their legal services.</p> <p>Journalists, lecturers and teachers also have an exemption for advice given in the course of those occupations.</p> <p>You can see more about <a title="Who Is Not Covered by the Financial Advisers Act 2008?" href="/help-me-comply/financial-advisers/who-needs-to-comply/who-is-not-covered-by-the-financial-advisers-act-2008/">who is not covered by the Financial Advisers Act</a>.</p> <p>Generally speaking, if someone is only giving you information about financial products without any recommendation or opinion to buy or sell the product, then they are not likely to be covered by the Financial Advisers Act. But if they are providing you with advice or providing financial planning services then they are.</p> <p>If you are not sure, or if you think someone is providing a financial adviser service and they are not licensed, <a title="Contact Us" href="/about-us/contact-us/">contact the Financial Markets Authority</a>.</p> </div>http://www.fma.govt.nz/help-me-invest/getting-financial-advice/find-an-adviser/2013-03-27T18:37:41+13:00Financial Markets Authority<div id="teaser-text">Check our searchable list to find an authorised adviser in your area. Or link to the register or to our QFE list.</div><div id="body"> <h2>Is the adviser on the register?</h2> <p>You can find out more about the Registered Financial Adviser (RFA) or Authorised Financial Adviser (AFA) you are dealing with on the public register at <a title="Financial Service Providers Register" href="http://www.fspr.govt.nz">www.fspr.govt.nz</a></p> <p>The register will tell you their business address and list the financial services they can provide. It will tell you whether they are just registered and/or licensed as an Authorised Financial Adviser (this will be in the list of financial services).</p> <p>Qualifying Financial Entity (QFE) advisers don't have to be listed individually on the register but the financial service company they work for must be there.</p> <p>If a person giving you financial advice is not on the register when they should be then don't deal with them. And let us know.</p> <h2>Finding an AFA in your area</h2> <p>If you don't have an AFA and want to find the names of AFAs in your area, you can use our <a title="AFA Listing" href="/help-me-comply/financial-advisers/how-to-get-licensed/afa-application-resources-and-templates/list-of-authorised-financial-advisers-(afa)/">searchable list</a>.</p> <h2>Which organisations are QFEs?</h2> <p>Your adviser may tell you they work for a Qualifying Financial Entity (QFE). You can check whether their organisation is a QFE on our <a title="List of Qualifying Financial Entities" href="/laws-we-enforce/registers/list-of-qualifying-financial-entities-(qfe)/">QFE list</a>.</p> </div>http://www.fma.govt.nz/help-me-invest/getting-the-right-information/getting-the-right-advice-on-your-red-zone-payout/financial-service-providers-register/2013-03-27T18:37:40+13:00Financial Markets Authority<div id="teaser-text">Financial Service Providers Register</div><div id="body"> Financial advisers have to be registered, either directly or through their company.<br /> <br /> You can check registration and whether or not the person is an Authorised Financial Adviser on the Government <a href="http://www.business.govt.nz/fsp/">register of financial service providers</a>.&nbsp; To find registration details, enter the surname or company name in the search box on the top right hand side of the screen.<br /> <br /> Individuals who work for Qualifying Financial Entities (QFEs) don't have to be on the register themselves. But their company will be there. If an adviser tells you they work for a 'QFE' you can check whether that company is a QFE <a href="http://fma.govt.nz/laws-we-enforce/legislation/notices/list-of-qualifying-financial-entities/"> here</a>.<br /> </div>http://www.fma.govt.nz/help-me-invest/getting-financial-advice/what-the-new-regulations-mean/2013-03-27T18:37:40+13:00Financial Markets Authority<div id="teaser-text">FMA now licenses and monitors financial advisers.</div><div id="body"> <p>All financial advisers have a legal requirement to act with care, diligence and skill. They must also put your needs first and not mislead you.</p> <p>They must have a complaints process in place and they, or the financial services provider they work for, must also belong to a dispute resolution scheme. So if there is a dispute, you can ask someone independent to resolve it. In addition, you can complain to the Financial Markets Authority if you have concerns about the behaviour of a financial adviser.</p> <p>All financial advisers must be registered on the Financial Service Providers Register (<a title="Financial Service Providers Register" href="http://www.fspr.govt.nz">www.fspr.govt.nz</a>). In addition, FMA licenses and monitors Authorised Financial Advisers and Qualifying Financial Entities. Only Authorised Financial Advisers and Qualifying Financial Entities can offer personalised advice on complex investment products.</p> <p>FMA will check that Authorised Financial Advisers are meeting professional standards.</p> <p>FMA will monitor that Qualifying Financial Entities are taking responsibility for their advisers.</p> </div>http://www.fma.govt.nz/help-me-invest/getting-the-right-information/getting-the-right-advice-on-your-red-zone-payout/who-can-i-talk-to-about-options-for-using-my-payout/2013-03-27T18:37:39+13:00Financial Markets Authority<div id="teaser-text">Who you can talk to about options for using your payout</div><div id="body"> There are a range of professionals you may be dealing with over your Red Zone payout.&nbsp; When someone offers you a recommendation or an opinion on a financial product such as a mortgage, insurance or an investment product, they're offering financial advice and are covered by legislation that requires them to offer you certain <a href="/help-me-invest/using-an-adviser/what-the-new-regulations-mean/"> protections</a>.<br /> <br /> <h2>Authorised Financial Advisers</h2> You might decide you'd like to take this opportunity to make some investments or look at your whole financial situation. In this case you should look for someone who is an Authorised Financial Adviser (AFA).<br /> <br /> AFAs have to meet minimum qualification requirements and must follow a Code of Professional Conduct. They can advise on simple and more complex investment products and can also offer financial planning services.&nbsp; Their AFA licence will set out the specific services they have been authorised to provide.<br /> <br /> <h2>Registered Financial Advisers</h2> You may need help with your mortgage on a new property, or insurances, or you may like to talk to someone about some short term saving options while you work out what to do.<br /> <br /> Registered Financial Advisers (RFAs) can advise on simpler products. They cannot help you with investment products or with financial planning.<br /> <br /> <h2>Qualifying Financial Entity Advisers</h2> Most major banks and insurance companies are now 'Qualifying Financial Entities' and the staff who work for them as financial advisers can help you with both simple products such as mortgages, insurance and savings products, and more complex investment products. But they can only advise you on investment products offered by their company.<br /> <br /> <h2>Other professionals</h2> Some of the other professionals you may be dealing with over your residential red zone payout are exempt from the requirements but only in a limited way.<br /> <br /> Lawyers, chartered accountants and real estate agents who provide you with financial advice don't have to be on the register or meet authorisation requirements but only if their advice is given as part of the normal business of being a lawyer, accountant or real estate agent. They are then covered by other laws and regulatory regimes.<br /> <br /> Similarly people who give you general financial information don't have to meet the rules around financial advice. However if they start offering you opinions or recommendations about your personal situation you should ask if they are registered or authorised as financial advisers.<br /> </div>http://www.fma.govt.nz/help-me-invest/getting-the-right-information/getting-the-right-advice-on-your-red-zone-payout/finding-a-financial-adviser-in-canterbury/2013-03-27T18:37:39+13:00Financial Markets Authority<div id="teaser-text">How to find a financial adviser in Canterbury</div><div id="body"> The Government register enables you to check whether an adviser is registered but doesn't have a search function to let you find an adviser in a certain area. You may get recommendations from friends or family but here are some other options if you are not sure who to approach:<br /> <br /> <ul> <li><a title="AFA Listing" href="/help-me-comply/financial-advisers/how-to-get-licensed/afa-application-resources-and-templates/list-of-authorised-financial-advisers-(afa)/">FMA list of AFAs</a> - FMA has extracted a list of all current Authorised Financial Advisers (AFAs) from the financial service providers register. This list is searchable.</li> </ul> <ul> <li><a href="http://fma.govt.nz/laws-we-enforce/legislation/notices/list-of-qualifying-financial-entities/"> FMA list of QFEs</a> - FMA has also extracted a list of all current Qualifying Financial Entities (QFEs). If an adviser tells you they don't need to be on the register because they work for a QFE you can check the organisation they are working for is on this list.</li> </ul> <ul> <li>Visit an adviser association website list. Links to the financial adviser association groups who offer searchable lists of their members are below. Remember to always check that the individual you find on one of these lists is registered to provide you with financial services.</li> </ul> o&nbsp;&nbsp;&nbsp; <a href="http://ifa.org.nz/search.php">Institute of Financial Advisers</a><br /> o&nbsp;&nbsp;&nbsp; <a href="http://www.paa.co.nz/Person?Action=List&amp;DataFilter_id=11"> Professional Advisers Association</a><br /> o&nbsp;&nbsp;&nbsp; <a href="http://www.sifa.org.nz/Find_an_Adviser_3.aspx">SIFA</a><br /> o&nbsp;&nbsp;&nbsp; <a href="http://www.nzmba.co.nz/">New Zealand Mortgage Brokers Association</a><br /> o&nbsp;&nbsp;&nbsp; <a href="http://www.ibanz.co.nz/MainMenu">Insurance Brokers Association of New Zealand</a><br /> <br /> </div>http://www.fma.govt.nz/help-me-invest/getting-the-right-information/brochures/confidence-comes-from-sound-advice-flyer/2013-03-27T18:37:38+13:00Financial Markets Authority<div id="teaser-text">A flyer outlining the key things consumers should consider when they work with a financial adviser.</div><div id="body"> <p>This flyer outlines the key things consumers should consider when they work with a financial adviser.</p> <p>You can order copies of this flyer by <a title="Contact Us" href="/about-us/contact-us/">contacting us</a>.</p> </div>http://www.fma.govt.nz/help-me-invest/getting-the-right-information/getting-the-right-advice-on-your-red-zone-payout/2013-03-27T18:37:38+13:00Financial Markets Authority<div id="teaser-text">Getting the right advice on your Red Zone payout</div><div id="body"> If you're going to be receiving a payout on your home you might be thinking about buying a new home straightaway, investing your deposit and payout until you've found somewhere new or perhaps about renting instead and using your money in a different way.<br /> <br /> You might need some professional advice to help you decide.<br /> <br /> <ul> <li><a href="http://www.fma.govt.nz/help-me-invest/using-an-adviser/choosing-an-adviser/"> Find out who you can talk to about options for using your payout</a></li> </ul> <ul> <li><a href="/help-me-invest/getting-the-right-advice-on-your-red-zone-payout/finding-a-financial-adviser-in-canterbury/"> </a> <a href="http://www.fma.govt.nz/help-me-invest/using-an-adviser/find-an-adviser/"> Find a financial adviser in Canterbury</a></li> </ul> <ul> <li><a href="/help-me-invest/getting-the-right-advice-on-your-red-zone-payout/financial-service-providers-register/"> </a> <a href="http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/being-alert-to-scams/checking-the-financial-service-providers-register/"> Check the adviser you are dealing with is on the financial service providers register</a></li> </ul> <ul> <li>Find out about the protections you have from working with a <a href="/help-me-invest/using-an-adviser/what-the-new-regulations-mean/"> regulated</a> financial adviser</li> </ul> <br /> Our website also has general information about <a href="/help-me-invest/using-an-adviser/">using a financial adviser</a> that might be useful to you.<br /> <br /> And if you decide to invest your money, read our pages on <a href="/help-me-invest/types-of-investments/">types of investment</a> - and on <a href="/help-me-invest/risks-involved-in-investing/being-alert-to-scams/"> being alert to scams.</a> In addition, the <a href="http://www.sorted.org.nz/redzone">Sorted website</a>'s red zone page has further information, including an action plan checklist and a booklet to help guide you through your financial decisions.<br /> <br /> <br /> </div>http://www.fma.govt.nz/help-me-invest/getting-the-right-information/credit-ratings/2013-03-27T18:37:37+13:00Financial Markets Authority<div id="teaser-text">Credit ratings are an indicator of the financial health of an entity.</div><div id="body"> <p>A credit rating can be an indicator of the riskiness of an investment, especially fixed interest investments. The rating actually applies to the organisation offering the investment, and is the rating agency's assessment of the likelihood that the organisation will default and investors will lose money.</p> <p>In New Zealand, a credit rating is required by most banks, finance companies, building societies, credit unions and other non-bank organisations taking deposits from the public. The rating must come from one of three agencies approved by the Reserve Bank - <a href="http://www.standardandpoors.com">Standard and Poor's</a>, <a href="http://www.moodys.com">Moody's Investor Services</a> and <a href="http://www.fitchratings.com/index_fitchratings.cfm">Fitch</a>.</p> <p>A good credit rating doesn't mean the investment is risk-free. It's simply the agency's opinion of the organisation's ability to meet its financial obligations.</p> <p>Ratings use letters and numbers to indicate risk. The tables below show average default rates for organisations with particular ratings. They show that the riskiness of an investment increases rapidly as the rating goes down from A towards C. They also show that risks increase over time.</p> <p>Ratings issued by financial advisers can be useful guides but should be treated with caution as they are not from approved agencies.</p> <p>Just because there's no credit rating doesn't necessarily mean you should avoid the investment. However, you should take extra care to assess the risk. You could ask a financial adviser why there is no credit rating.</p> <h2>Fitch</h2> <table class="credit-rating"> <caption>Global Corporate Finance Average Cumulative Default Rates: 1990 - 2009 (%)</caption> <colgroup class="heading"> <col /></colgroup> <colgroup class="data"> <col /> <col /> <col /> <col /> <col /></colgroup> <thead> <tr> <th>Rating</th> <th>Year 1</th> <th>Year 2</th> <th>Year 3</th> <th>Year 4</th> <th>Year 5</th> </tr> </thead> <tbody> <tr> <td>AAA</td> <td>0.00</td> <td>0.00</td> <td>0.00</td> <td>0.00</td> <td>0.00</td> </tr> <tr> <td>AA</td> <td>0.04</td> <td>0.04</td> <td>0.00</td> <td>0.02</td> <td>0.05</td> </tr> <tr> <td>A</td> <td>0.10</td> <td>0.27</td> <td>0.41</td> <td>0.50</td> <td>0.66</td> </tr> <tr> <td>BBB</td> <td>0.27</td> <td>0.84</td> <td>1.43</td> <td>2.10</td> <td>2.81</td> </tr> <tr> <td>BB</td> <td>1.52</td> <td>3.60</td> <td>5.17</td> <td>6.32</td> <td>7.51</td> </tr> <tr> <td>B</td> <td>2.71</td> <td>5.28</td> <td>6.31</td> <td>8.02</td> <td>9.27</td> </tr> <tr> <td>CCC to C</td> <td>26.39</td> <td>29.41</td> <td>32.10</td> <td>32.95</td> <td>35.31</td> </tr> </tbody> </table> <h2>Moody's</h2> <table class="credit-rating"> <caption>Average Cumulative Credit Loss Rates by Letter Rating, 1982-2009 (%)</caption> <colgroup class="heading"> <col /></colgroup> <colgroup class="data"> <col /> <col /> <col /> <col /> <col /></colgroup> <thead> <tr> <th>Rating</th> <th>Year 1</th> <th>Year 2</th> <th>Year 3</th> <th>Year 4</th> <th>Year 5</th> </tr> </thead> <tbody> <tr> <td>Aaa</td> <td>0.00</td> <td>0.01</td> <td>n/a</td> <td>0.00</td> <td>0.02</td> </tr> <tr> <td>Aa</td> <td>0.02</td> <td>0.04</td> <td>0.06</td> <td>0.07</td> <td>0.14</td> </tr> <tr> <td>A</td> <td>0.04</td> <td>0.10</td> <td>0.21</td> <td>0.35</td> <td>0.47</td> </tr> <tr> <td>Baa</td> <td>0.11</td> <td>0.30</td> <td>0.55</td> <td>0.82</td> <td>1.16</td> </tr> <tr> <td>Ba</td> <td>0.66</td> <td>1.93</td> <td>3.58</td> <td>5.45</td> <td>7.02</td> </tr> <tr> <td>B</td> <td>2.86</td> <td>6.76</td> <td>10.43</td> <td>13.46</td> <td>15.51</td> </tr> <tr> <td>Caa-C</td> <td>11.53</td> <td>19.12</td> <td>25.61</td> <td>29.58</td> <td>33.77</td> </tr> </tbody> </table> <p class="table-footnote">Data in percent based on issuer-weighted average default rate and on issuer-weighted average senior unsecured bond recovery rates.</p> <h2>Standard &amp; Poor's</h2> <table class="credit-rating"> <caption>Cumulative Average Default Rates (1981-2009) (%)</caption> <colgroup class="heading"> <col /></colgroup> <colgroup class="data"> <col /> <col /> <col /> <col /> <col /></colgroup> <thead> <tr> <th>Rating</th> <th>Year 1</th> <th>Year 2</th> <th>Year 3</th> <th>Year 4</th> <th>Year 5</th> </tr> </thead> <tbody> <tr> <td>AAA</td> <td>0.00</td> <td>0.03</td> <td>0.14</td> <td>0.26</td> <td>0.39</td> </tr> <tr> <td>AA</td> <td>0.02</td> <td>0.07</td> <td>0.14</td> <td>0.24</td> <td>0.33</td> </tr> <tr> <td>A</td> <td>0.08</td> <td>0.21</td> <td>0.35</td> <td>0.53</td> <td>0.72</td> </tr> <tr> <td>BBB</td> <td>0.26</td> <td>0.72</td> <td>1.23</td> <td>1.86</td> <td>2.53</td> </tr> <tr> <td>BB</td> <td>0.97</td> <td>2.94</td> <td>5.27</td> <td>7.49</td> <td>9.51</td> </tr> <tr> <td>B</td> <td>4.93</td> <td>10.76</td> <td>15.65</td> <td>19.46</td> <td>22.30</td> </tr> <tr> <td>CCC/C</td> <td>27.98</td> <td>36.95</td> <td>42.40</td> <td>45.57</td> <td>48.05</td> </tr> </tbody> </table> <p class="table-footnote">Source: Standard &amp; Poor's Global Fixed Income Research and Standard &amp; Poor's CreditPro©</p> </div>http://www.fma.govt.nz/help-me-invest/getting-the-right-information/information-from-other-sources/2013-03-27T18:37:37+13:00Financial Markets Authority<div id="teaser-text">Financial advisers, analysts, media and company websites are useful sources of information.</div><div id="body"> <h2>Financial advisers</h2> <p>Many people, including financial planners, brokers, and some bank staff, give investment advice. Read about <a title="Using an Adviser" href="/help-me-invest/getting-financial-advice/">using an adviser</a>.</p> <h2>Commentators and analysts</h2> <p>Financial institutions, brokers and financial advisers provide commentary and analysis, and often send recommendations to clients. You can visit their websites or ask to go onto mailing lists for newsletters and updates.</p> <h2>Media</h2> <p>Financial news is published in the business sections of daily, Sunday and weekly newspapers, and in several specialist magazines. News is also available online at sites like <a href="http://www.stuff.co.nz">Stuff</a>, <a href="http://money.msn.co.nz">MSN</a>, and radio and television websites. <a href="http://www.consumer.org.nz">Consumer</a> sometimes has articles on using advisers.</p> <h2>Websites</h2> <p>Other websites with investment information include New Zealand's exchange <a href="http://www.nzx.com">NZX</a>, <a href="http://www.sorted.org.nz">Sorted</a> and <a href="http://www.interest.co.nz">Interest.co.nz</a>.</p> <p>Always check who owns the site and whether their advice is independent and well-informed. If there are no names or proper contact details, treat the site with caution. Many scams are run via the Internet, so never send money or personal information to someone you only know over the Internet. The <a href="http://www.consumeraffairs.govt.nz/scams">Scamwatch</a> website has more information on scams.</p> <h2>Books on investing</h2> <p>Your public library will have many books about investment, including books written specifically for New Zealanders.&nbsp; Here are some you may also find useful:</p> <p><a href="http://www.rbnz.govt.nz/news/2012/4899492.html">Upside,downside:&nbsp; A guide to risk for savers and investors</a></p> <p><a href="https://www.sorted.org.nz/a-z-guides/booklets">Sorted booklets</a></p> </div>http://www.fma.govt.nz/help-me-invest/getting-the-right-information/guidance-from-fma/2013-03-27T18:37:37+13:00Financial Markets Authority<div id="teaser-text">Articles and information for investors from FMA</div><div id="body"> <h2>Articles and information for investors from FMA</h2> <ul> <li><a href="/keep-updated/newsroom/articles/unsolicited-offers-guidance-for-investors/"> </a><a href="/keep-updated/newsroom/articles/low-ball-offers-guidance-for-investors/"> "Low ball" offers - Guidance for Investors</a>&nbsp;(for offers made after 1 December 2012)</li> <li><a title="Moratorium Proposals - What Investors Should Consider" href="/keep-updated/newsroom/articles/moratorium-proposals-what-investors-should-consider/">Moratorium Proposals - What Investors Should Consider</a></li> </ul> <p><a title="Warnings and Scam Alerts" href="#">See Warnings and Alerts from FMA.</a></p> </div>http://www.fma.govt.nz/help-me-invest/getting-the-right-information/investment-statement/2013-03-27T18:37:36+13:00Financial Markets Authority<div id="teaser-text">This document should provide a plain English description of the investment. It is the first place to go for information.</div><div id="body"> <p>The first place to go for information is the investment statement.</p> <p>This has key information to help non-expert investors decide whether or not to invest. It is prepared by the organisation offering the investment - and must be given to you before you pay any money.</p> <p>You should read it. If you can't understand the investment statement, a financial adviser may be able to help you.</p> <p>Every investment statement is set out the same way, with 11 questions. This makes it easier to compare one investment with another.</p> <p>If the investment is a kind that doesn't require an investment statement, you should ask a financial adviser where you can find the equivalent information that an investment statement provides.</p> <p>The questions are:</p> <h2>What sort of investment is this?</h2> <p>This sounds like an obvious question. But it's essential that you understand exactly what you are buying. Never assume you already know what the investment is and always read the investment statement.</p> <h2>Who is involved in providing it to me?</h2> <p>When you invest, the returns you receive and any capital gain or loss will depend on the future and fortunes of the organisation offering the investment. So you need to know who these people are and what they intend to do with your money. Knowing this helps you assess the risks of the investment.</p> <h2>How much do I pay?</h2> <p>Before you buy you need to know how much it costs and when you need to pay. You'll also be told if there's a cooling-off period during which you can change your mind about investing.</p> <h2>What are the charges?</h2> <p>Fees can make a big difference to your return and this section should separate out all the fees so you can see what you are paying for. It will also tell you if the fees can change.</p> <h2>What returns will I get?</h2> <p>You need to know if the return is fixed (as with bonds) or if it varies depending on the investment's performance (as with shares and managed funds). You also need to know about factors likely to affect the levels of returns and about the strength of any guarantees offered.</p> <h2>What are my risks?</h2> <p>Whether an investment is right for you will depend heavily on the risks involved. You should be told about the risk that your money won't be paid back or you won't receive the returns described in the investment statement. You should also be told about any risk of having to pay more money on the investment.</p> <h2>Can the investment be altered?</h2> <p>Sometimes the terms of an investment can be changed - e.g. the term of a deposit might be extended. You should be told about this, and any fees charged if you initiate the change.</p> <h2>How do I cash in my investment?</h2> <p>You should be told if you can sell or cancel your investment, and any charges to do this. You should also be told if there's an established market that can be used to sell the investment. If there is an established market (e.g. shares listed on a stock exchange) the investment will probably be easier to sell.</p> <h2>Who do I contact with enquiries about my investment?</h2> <p>You should be given names and contact details of the people who can give you more information.</p> <h2>Is there anyone I can complain to if I have a problem with the investment?</h2> <p>There should be a contact person for complaints, with an address and telephone number. You'll also be told if you can complain to a trustee or statutory supervisor, or to any other person.</p> <h2>What other information is available about this investment?</h2> <p>You should be told of other information about the investment and how you can get it. This includes the prospectus and the financial statements, which should be available free of charge.</p> </div>http://www.fma.govt.nz/help-me-invest/getting-the-right-information/other-information-you-should-get/2013-03-27T18:37:36+13:00Financial Markets Authority<div id="teaser-text">The prospectus and annual report can help you decide whether to invest or to stay invested.</div><div id="body"> <h2>Prospectus</h2> <p>The prospectus contains detailed information that is not necessarily in the investment statement. This includes financial and legal information such as:</p> <ul> <li>what the money you invest will be used for</li> <li>further details about the people involved in the offer and the benefits they receive</li> <li>important commitments the company has, like long-term leases and key contracts</li> <li>the company's most recent financial information, and in some cases, financial information for the last five years or anticipated financial information for the future</li> <li>the key points in any trust deed or participation deed. These important documents cover things like how the trustee or statutory supervisor protects investors, financial limits imposed on the trust, and where you'd stand in the line of people waiting to be repaid if the investment went bust.</li> </ul> <p>If a financial adviser recommends the investment, they should have read the prospectus. Ask them to explain the most important points.</p> <p>You can ask the organisation offering the investment to send a prospectus free of charge. Copies of prospectuses can also be viewed at the <a href="http://www.companies.govt.nz">Companies Office</a> or its website.</p> <p>Registered banks do not have to have a prospectus but they must have a general disclosure statement and issue regular key information summaries instead. These documents give investors general information about the bank (including any restrictions placed on it by the Reserve Bank of New Zealand) and give an overview of the bank's financial position.</p> <h2>Financial statements</h2> <p>Annual financial statements are required for virtually all investments. They must be audited and registered with the Companies Office.</p> <p>Existing investors are usually sent a copy of the financial statements with the annual report. Potential investors in companies often view annual reports on company websites.</p> <p>Reading a company's annual report gives you a chance to see how the company is performing. You'll get information about the environment it is operating in, details of the directors and big shareholders, and how the entity is governed and managed.</p> <p>It can help you decide if you want to invest or to continue an existing investment.</p> <h2>Confirmation of investment</h2> <p>You are entitled to written confirmation of your investment. For one-off investments (e.g. buying a bond), a certificate will be sent for each investment. If you make regular payments into one investment (e.g. a KiwiSaver scheme), the managers are generally required to send a six month statement showing investments made in that period. However, you can ask for an updated statement at any time.</p> </div>http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/case-study-regular-income/2013-03-27T18:37:35+13:00Financial Markets Authority<div id="teaser-text">Case Study Regular Income</div><div id="body"> <p><strong>Neil and Ann need regular income</strong><br /> <br /> Neil and Ann are retirees who rely on income from their government pension and investments to cover all their living expenses.<br /> <br /> "We both have state pensions but our work superannuation funds are our main source of income," says Neil.<br /> <br /> "Then we have a range of other income-producing assets including a small investment property, a range of shares paying &nbsp; dividends and some government bonds."<br /> <br /> Neil and Ann say they have a simple reason for spreading their investments across a range of sources and asset types.<br /> <br /> "Even though we invest for income, we also want our capital to last as long as possible. That's why we invest in some growth assets despite the risks attached because of the rising costs of living and inflation."<br /> <br /> "That's why we have income-producing investments in other asset classes such as property and bonds too. They're our backup and mean we can spread our risk," says Ann.</p> <h6>Reproduced and adapted with permission of ASIC.&nbsp; Source: MoneySmart website <a href="http://www.moneysmart.gov.au">www.moneysmart.gov.au</a>&nbsp;31 August 2012.</h6> </div>http://www.fma.govt.nz/help-me-invest/getting-the-right-information/ask-questions/2013-03-27T18:37:35+13:00Financial Markets Authority<div id="teaser-text">In the investment world, asking questions is not being dumb - it is the sign of an astute investor.</div><div id="body"> <p>If you are unsure about any aspect of an investment, keep asking questions or seek a second opinion.</p> <p>If your question is about an important issue - like the fees you pay or the security of your money - get the answer in writing.</p> <p>If you can't understand the answers to your questions, don't invest. It's your money. Why hand it over to someone who can't, or won't, fully explain what will happen to it?</p> <p>The sorts of questions you need answers to include things like what are the risks, what are the fees, what will happen to my money and how can I get it back?</p> <p>By law, the people offering you the investment are usually required to provide you with a standard set of important questions and answers in writing, in a document called the investment statement. You should always read these questions and answers before you hand over any money.</p> <p>Other useful information is available, including in the investment's prospectus, annual reports, credit ratings and the media.</p> </div>http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/case-study-medium-term-saving/2013-03-27T18:37:34+13:00Financial Markets Authority<div id="teaser-text">Case study Medium-Term Saving</div><div id="body"> <p><strong>Clare saves for her daughter</strong><br /> <br /> Clare is a 36-year old teacher who lives in New Plymouth with her 11-year old daughter, Jackie. When Clare's mother passed away a few years ago, she left her granddaughter $10,000 in her will.<br /> <br /> "I know a couple of people who work in finance, so I asked them about the best way to invest the money for Jackie. I want her to have a little nest egg when she finishes school, maybe for spending on university fees or just to give her a bit of a boost when she gets out into the real world."<br /> <br /> After doing some research, Clare visited an Authorised Financial Adviser and decided to put Jackie's money in a managed fund.<br /> <br /> "I did some reading and worked out that a balanced managed fund was going to be my best bet. And I think I made the right choice, it's been 'growing' to plan. I didn't want to have to guess what shares to buy or sell, or worry about it all the time. It feels satisfying knowing Jackie's nest egg is growing, and she will have something for herself when she turns 18."</p> <h6>Reproduced and adapted with permission of ASIC.&nbsp; Source: MoneySmart website <a href="http://www.moneysmart.gov.au">www.moneysmart.gov.au</a>&nbsp;31 August 2012.</h6> </div>http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/case-study-capital-growth/2013-03-27T18:37:34+13:00Financial Markets Authority<div id="teaser-text">Case Study Capital Growth</div><div id="body"> <p><strong>Richard wants to grow his capital</strong><br /> <br /> Richard is a long-term investor. His goal is to build his retirement savings over the next 15 years.<br /> <br /> He runs his own small business and invests the profits into a superannuation fund. He has chosen a 'growth' investment option that has about 60% in shares, 20% in property, 10% in bonds and 10% in cash.<br /> <br /> Richard is a confident, well-informed investor. Before choosing an investment option, he took the time to understand how growth investments - like shares and property - work, and the risks involved.<br /> <br /> He understands that the market will rise and fall over his 15-year investment timeframe and history suggests there will be more ups than downs.<br /> <br /> His fund makes sure his money is diversified. It uses many different investment managers who supervise investments in many different sectors to reduce the overall fluctuations.<br /> <br /> "I chose an option that invests mostly in growth assets like shares and property because I know that over the long term they are likely to have higher returns. This means my investments should stay ahead of inflation," says Richard.<br /> <br /> Richard also knows that as he approaches retirement his investment needs and appetite for risk will change. He will&nbsp; want to make sure his funds don't erode so he may change his investment options from 'growth' to 'cash' or 'conservative'.</p> <h6>Reproduced and adapted with permission of ASIC.&nbsp; Source: MoneySmart website <a href="http://www.moneysmart.gov.au">www.moneysmart.gov.au</a>&nbsp;31 August 2012.</h6> </div>http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/borrowing-to-invest/2013-03-27T18:37:33+13:00Financial Markets Authority<div id="teaser-text">Borrowing to Invest</div><div id="body"> <p><strong>Risky business</strong></p> <p>Borrowing money to invest is risky business. The high returns can seem fantastic in good times but the losses can be huge in bad times.</p> <p>Borrowing to invest is also called 'gearing'. Look at the pros and cons before you decide if this strategy is right for you.</p> <h2><br /> Is borrowing to invest right for you?</h2> <p>Borrowing to invest is for experienced investors. It is only suitable if:</p> <ul> <li>You have enough income from other sources, like a secure salary, or have extra funds that you can use if there is a significant drop in the market</li> <li>You understand the risks of unpredictable, volatile investments</li> <li>Before going ahead you should seek financial advice from an Authorised Financial Adviser (AFA) to see how the math stacks up.&nbsp;</li> </ul> <div> <h2><br /> Beware of the risks</h2> <p>Borrowing to invest magnifies the highs and lows. If the market falls, the results can be disastrous.<br /> <br /> You could lose all of your investment and end up owing money to the lender.<br /> <br /> Remember, the more you borrow, the greater the risk and the less <a href="/help-me-invest/risks-involved-in-investing/diversification/"> diversified</a> your investment, the greater the risk. Borrowing to invest in just one company or one industry sector is not recommended.<strong><br /> </strong></p> <table> <tbody> <tr> <td><strong><em>Warning</em></strong><br /> <br /> <em>It is very risky to borrow against your home to put money into an investment. You could lose your home if the investment turns bad and you can't keep up your loan repayments.</em></td> </tr> </tbody> </table> <h6>Reproduced and adapted with permission of ASIC.&nbsp; Source: MoneySmart website <a href="http://www.moneysmart.gov.au">www.moneysmart.gov.au</a>&nbsp;31 August 2012.</h6> </div> </div>http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/case-study-short-term-saving/2013-03-27T18:37:33+13:00Financial Markets Authority<div id="teaser-text">Case Study Short-Term Saving</div><div id="body"> <p><strong>Isabel wants easy access to her cash</strong><br /> <br /> Isabel's investment goal is to buy a home within 2 years. She has moved back in with her parents and is saving as much as she possibly can towards a deposit.<br /> <br /> Isabel mentioned to a workmate that she has already saved over $20,000. She is looking for a two-bedroom house for around $250,000.<br /> <br /> Isabel is a qualified vet. She knows that with her income, banks will offer her a large loan. She would prefer to save a bigger deposit so she will have a smaller mortgage.<br /> <br /> "'I want to save at least $30,000, but $50,000 would be better," says Isabel.<br /> <br /> Isabel says she can achieve her goal comfortably by keeping her money in an accessible online savings bank account earning a good rate of interest.<br /> <br /> "'I am already keeping an eye out for properties. It's important to me that I can withdraw my money immediately, if the right house comes up for sale. It might happen this year; or it might not happen for a year or two."<br /> <br /> Her workmate doesn't understand why she doesn't try to fast-track things by investing the money in the share market. 'Shares can go up by 20% in a year,' he says.<br /> <br /> Isabel knows a savings account fits her needs best.<br /> <br /> "On any given day I know exactly how much I have in my account. I wouldn't have that certainty if I invested the money in shares. Shares could just as easily go down by 20% just when I need the money."</p> <h6>Reproduced and adapted with permission of ASIC.&nbsp; Source: MoneySmart website <a href="http://www.moneysmart.gov.au">www.moneysmart.gov.au</a>&nbsp;31 August 2012.</h6> </div>http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/being-alert-to-scams/checking-the-financial-service-providers-register/2013-03-27T18:37:32+13:00Financial Markets Authority<div id="teaser-text">Checking the Financial Service Providers Register</div><div id="body"> <p>Financial service providers with a place of business in New Zealand must be registered on a public online register called the Financial Service Providers Register (FSPR).&nbsp;<br /> <br /> The register will tell you their business address and list the financial services they are registered to provide.&nbsp; They can't offer you services not on this list.<br /> <br /> The register will also tell you the name of their dispute resolution scheme.&nbsp; This is a free service that will help you resolve any disputes you may have in future with the company or person.<br /> <br /> If the financial service provider you are dealing with doesn't appear on the register, you should be wary of dealing with them.&nbsp;<br /> <br /> Take care.&nbsp; Some companies quote a New Zealand company registration number when they are offering financial services.&nbsp; New Zealand company registration is not the same as financial service provider registration. You should always do your own independent check of the register.&nbsp;<br /> <br /> Also be aware the register is not a list of the individuals and entities that FMA regulate. While the registration process ensures certain people cannot be involved with the provision of financial services, for example those people who have specific criminal offences or who are undischarged bankrupts, there are no checks around competence, qualifications or good character.<br /> <br /> See below for more on FMA's role in monitoring the FSPR.</p> <h2><br /> How to check the register</h2> <p><br /> Go to <a href="http://www.fspr.govt.nz">www.fspr.govt.nz</a><br /> <br /> In the box on the top right hand side (search the register), type in your provider's surname or company name.<br /> <br /> This will generate a list of all the people or company with that name. Click on the one you are dealing with to see a screen of information about them. Make sure you scroll down to see the services they can offer you and the name of their dispute resolution scheme.<br /> <br /> Please note, financial advisers who work for a Qualifying Financial Entity (QFE) don't have to be listed individually on the register but the financial service company they work for must be there.&nbsp;<br /> <br /> <a href="http://www.fma.govt.nz/help-me-invest/using-an-adviser/find-an-adviser/"> See more about looking up financial advisers on the register.</a></p> <h2><br /> How FMA monitors the FSPR</h2> <p><br /> Where FMA finds a company or person registered when they shouldn't be, we alert the Companies Office to de-register them.<br /> <br /> Where a company or person should be on the register but isn't, we'll take action. However, there are many other companies, particularly those from overseas with no New Zealand place of business who advertise financial services in New Zealand who may not be required by law to be on the register. Where we see a company advertising financial services who is not on the FSPR we'll publish them on our list of names to be wary of. These companies may not have broken the law but we don't recommend you deal with them because you will not have access to a dispute resolution service.<br /> <br /> <a href="http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/being-alert-to-scams/names-of-firms-and-individuals-to-be-wary-of/"> Names of firms and individauls&nbsp;to be wary of</a><br /> <br /> It's important to note, while being a registered financial service provider means there is a dispute service and, for financial advisers, that they must offer clients service with care, diligence and skill, it carries no other quality assurance.&nbsp; Registered financial service providers are not required to be monitored by FMA simply as a result of registration.</p> </div>http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/diversification/2013-03-27T18:37:32+13:00Financial Markets Authority<div id="teaser-text">Diversification</div><div id="body"> <p><strong>Cast your net widely</strong></p> <p>'Diversification' is one of the best tactics to reduce the total risk of your investment portfolio. A loss made on one type of investment may be balanced by a gain on another.</p> <p>Having a spread of different types of investments means you won't suffer a big loss just because one sector is doing badly. If one sector you've invested in fails, you won't lose all your money.</p> <ul> <li><a href="#Spread your assets">Spread your assets</a></li> <li><a href="#Spread your markets">Spread your markets</a></li> <li><a href="#Spread your timing">Spread your timing</a></li> <li><a href="#Spread your fund managers and financial institutions">Spread your fund managers and financial institutions</a></li> </ul> <div> <h2><a id="Spread your assets" name="Spread your assets"></a><br /> Spread your assets</h2> <p>To benefit from diversification, start by spreading your investment across the major 'asset classes' - cash, fixed interest, bonds, property and shares. Follow this principle when developing a financial plan, including with your superannuation. How you split your money will depend on your <a href="/help-me-invest/investing-basics/goals-and-risk-tolerance/"><span> goals and risk tolerance</span></a> and how much money you have. Most KiwiSaver and superannuation funds offer diversified investment options such as balanced or growth and are a good example of diversification in action.</p> <h2><a id="Spread your markets" name="Spread your markets"></a><br /> Spread your markets</h2> <p>The New Zealand market only has a tiny share of the world's investment opportunities. Investing some of your money overseas may help reduce the risk of being in only one market. For example, investments in Australia, Asia or the USA might be up when things are down in New Zealand. For most investors, investing through a managed fund is the easiest way to access foreign investments.<br /> <br /> The value of the New Zealand dollar against other currencies may also increase or reduce your investment return. Talk to an <a href="http://www.fma.govt.nz/help-me-comply/financial-advisers/how-to-get-licensed/afa-application-resources-and-templates/list-of-authorised-financial-advisers-%28afa%29/"> Authorised Financial Adviser</a> about how to manage these risks if you invest directly.</p> <h2><a id="Spread your timing" name="Spread your timing"></a><br /> Spread your timing</h2> <p>Big changes can happen without warning. 'Timing risk' is the chance that your investment will suffer because of when you buy or sell. For example, you buy an investment just before a big price drop, or sell just before the price goes up. Even professional fund managers are often just guessing about the best time to enter or leave the market.<br /> <br /> To reduce the risk of bad timing, invest at regular intervals -e.g. every fortnight, month or quarter. In this way, sometimes you will pay more, sometimes less for your investments. The differences in price even out over time. This practice is called 'dollar-cost averaging'.<br /> <br /> An easy way to do this is to set up a regular debit from your cash account to a managed fund. For example; when making regular contributions to your KiwiSaver from your pay, you are also taking advantage of 'dollar-cost averaging'.<br /> <br /> Similarly, you can reduce timing risk by selling investments in stages.</p> <p>&nbsp;</p> <h2><a id="Spread your fund managers and financial institutions" name="Spread your fund managers and financial institutions"></a>Spread your fund managers and financial institutions</h2> <p>Different financial institutions and fund managers have different styles of investing (see <a href="/help-me-invest/types-of-investments/managed-funds/"><span>managed funds</span></a> for more information). Relying on one fund manager or one financial institution for all your investments may be placing too big a bet on that manager's or institution's success.<br /> <br /> Some providers offer multi-manager funds. These allow you to benefit from the expertise of a number of managers within the one product. KiwiSaver and superannuation funds may also have a range of managers within each investment option to give you diversification.<strong><br /> <br /> Diversification is all about spreading your investments over a range of assets, markets time and fund managers and financial institutions. It is an excellent and proven way to reduce the risk of financial disasters</strong>.</p> <h6>Reproduced and adapted with permission of ASIC.&nbsp; Source: MoneySmart website <a href="http://www.moneysmart.gov.au">www.moneysmart.gov.au</a>&nbsp;31 August 2012.</h6> </div> </div>http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/being-alert-to-scams/telephone-share-scams/2013-03-27T18:37:31+13:00Financial Markets Authority<div id="teaser-text">New Zealanders have lost many millions of dollars to people from overseas who ring them up offering bogus share deals.</div><div id="body"> <p>New Zealanders have lost many millions of dollars to callers who ring them up offering bogus share deals. These callers are clever and persuasive. They make offers that are hard to resist.</p> <p>Frequently, shares offered don't exist, or they turn out to be worthless and can't be sold. Often people get a second call from a new 'broker' claiming to have a buyer for the shares, and wanting money to pay for the new transaction. This money too is lost.</p> <p>Sometimes callers will offer you money for shares you already own. You may be offered an excellent price but be told you just need to pay an advance or restriction fee.&nbsp; This is also a scam.</p> <p>To prove they are genuine, these callers may refer you to impressive-looking websites or fake agencies with official-sounding names. This is all part of the scam.</p> <p>If you get one of these calls, hang up. Don't engage the caller as they'll use their skill to persuade you to part with your money.</p> <p>If you want to buy or trade shares, we recommend you contact a registered New Zealand broker who is responsible under New Zealand law.</p> <h2><br /> Protect yourself</h2> <ul> <li><a href="http://www.business.govt.nz/fsp/">Check the caller is registered on the financial service providers website.</a> If they are not, do not deal with them.</li> <li>Check FMA's list of <a href="http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/being-alert-to-scams/names-of-firms-and-individuals-to-be-wary-of/"> names of firms and individuals to be wary of</a>.</li> <li>Check FMA's latest <a href="/keep-updated/warnings,-alerts-and-scams/fma%27s-latest-warnings-and-alerts/"> warnings and alerts</a>.</li> </ul> <p><br /> You can also call us to check on 0800 434 566.</p> </div>http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/being-alert-to-scams/common-frauds/2013-03-27T18:37:31+13:00Financial Markets Authority<div id="teaser-text">These are common forms of fraud that affect New Zealanders.</div><div id="body"> <p>These are common forms of fraud that affect New Zealanders.</p> <h2>Advance fee fraud</h2> <p>This is the classic 'Nigerian scam' where the victim is contacted by email and pays up front for something that never arrives. Delete these emails.</p> <h2>Prime bank instrument fraud</h2> <p>People are invited to take part in a secret market, and are offered 'prime bank' notes or debentures supposedly paying high returns. This market does not exist. Money sent to these schemes is lost.</p> <h2>Affinity fraud</h2> <p>Affinity fraudsters prey on people who trust each other, like members of religious, social, or cultural groups. They use the trust that exists within these groups to help steal money. See more about <a href="http://www.sec.gov/investor/pubs/affinity.htm">avoiding affinity fraud</a>.</p> <h2>Ponzi schemes</h2> <p>Money from new investors is used to pay 'interest' to earlier investors to give the illusion the investment is successful. See more about <a href="http://www.sec.gov/answers/ponzi.htm">Ponzi</a> scams.</p> <h2>Internet fraud</h2> <p>Many frauds operate over the internet. See information on <a href="http://www.sec.gov/investor/pubs/cyberfraud.htm">how to avoid internet scams</a>.</p> </div>http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/types-of-risk/2013-03-27T18:37:30+13:00Financial Markets Authority<div id="teaser-text">Every investment has its own combination of risks and it's important to understand them before you hand over any money.</div><div id="body"> <p>The types of risk that routinely affect investments include:</p> <ul> <li>interest rate risk: when interest rates rise after you lock in your money, meaning you don't earn as much on your money as you would have if you'd invested at the higher rate</li> <li>liquidity risk: there might not be buyers interested in your investment when you want to sell</li> <li>credit risk: the organisation may not be able to repay its debts, and you might lose your money</li> <li>economic risk: the economy may or may not be doing well, which could affect the value of your investment</li> <li>industry risk: risks affecting a particular industry, like shortages of raw materials or changes in consumer preferences</li> <li>currency risk: your investment is affected by changes in the value of the New Zealand dollar</li> <li>inflation risk: your investment doesn't earn enough to keep up with inflation.</li> </ul> <p>Every investment has its own combination of risks and it's important to understand them before you hand over any money. In particular, you should always read the 'risks' section of the investment statement, or ask your financial adviser to explain these to you.</p> <p>You also need to know what level of risk you're comfortable with. <a href="http://www.sorted.org.nz/calculators/risk-recommender/">Work out your risk profile at the Sorted website</a>.</p> </div>http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/spreading-your-risks/2013-03-27T18:37:30+13:00Financial Markets Authority<div id="teaser-text">Spreading your money across different types of investments reduces the overall effect on your portfolio if there is a downturn in one investment type.</div><div id="body"> <p>Spreading your money across different types of investments reduces the effect on your overall portfolio of investments if there is a downturn in one investment type. This is called diversification.</p> <p>Investment research shows that for most people a diversified portfolio results in better long-term investment outcomes. The overall value of a diversified portfolio will change over time and this sort of volatility is a natural feature of long-term investing.</p> <p>For example, you have some shares and some fixed interest investments. The interest rate falls, so when your fixed interest investments come up for renewal you may have to settle for a lower rate of interest. However, the value of your shares may not be affected in the same way.</p> <p>You can also diversify within one investment type. For example, buying several fixed interest investments with different terms is diversifying over time.</p> <p>A financial adviser should be able to provide you with advice on diversifying your investments.</p> </div>http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/being-alert-to-scams/2013-03-27T18:37:30+13:00Financial Markets Authority<div id="teaser-text">How you can decide that an investment might be a scam.</div><div id="body"> <p>An 'investment' is likely to be a scam if you are:</p> <ul> <li>promised very high returns with little risk. These promises are often too good to be true</li> <li>given little information in writing. All legitimate investments must have documents explaining the investment</li> <li>told the offer is known only to a select few. This is a often ploy to make you feel special</li> <li>not told who is behind the offer or given a physical address. Legitimate businesses give names and full addresses</li> <li>promised access to 'secret' overseas banking markets supposedly offering very high returns. These markets don't exist</li> <li>asked to keep the investment a secret. This is to stop the authorities hearing about it.</li> </ul> <p>Asking to see the investment statement is one of the best ways to protect against scams. Almost all legitimate investments offered in New Zealand must have this document. But scammers rarely put things in writing.</p> <p>If there is no investment statement, seek independent advice before handing over any money.</p> <p>See also:</p> <ul> <li><a title="Australian Securities and Investments Commission - How to Avoid Scams" href="http://www.moneysmart.gov.au/scams">Australian Securities and Investments Commission - How to Avoid Scams</a></li> <li><a title="US Securities and Exchange Commission (SEC)" href="http://www.sec.gov/investor/pubs/worthless.htm">US Securities and Exchange Commission (SEC)</a></li> </ul> </div>http://www.fma.govt.nz/help-me-invest/types-of-investments/how-can-i-get-my-money-back/2013-03-27T18:37:29+13:00Financial Markets Authority<div id="teaser-text">What you invest in affects how quickly you can get your money back.</div><div id="body"> <p>One of the facts you need to know before you decide on an investment is how you can get your money back. This depends on the type of investment.</p> <h2>Fixed interest securities</h2> <p>Some fixed interest investments are 'on call'. This means you can get your money out at any time.</p> <p>Other fixed interest investments are for a set term. In this case, the institution you invested with doesn't necessarily have to repay you if you want your money back early. If they do allow you to take your money out early, there is likely to be a penalty and/or a fee.</p> <p>Fixed interest investments, such as bonds, that are listed on New Zealand's exchange <a href="http://www.nzx.com">NZX</a> or an overseas stock exchange can typically be sold more easily than investments that aren't listed.</p> <h2>Shares</h2> <p>Shares that are listed on a stock exchange can be sold at any time provided there are buyers for the particular company's shares. Whether you make a profit or a loss depends on the price of the shares when you want to sell, and whether this is more than you paid for them.</p> <p>Shares that are not listed on a stock exchange may be harder to sell because there may not be a buyer when you want to sell.</p> <h2>Managed funds</h2> <p>If a managed fund is listed on the stock exchange, you can sell your units in the same way as you can sell shares.</p> <p>With most other managed funds, you can get your money out by selling your units back to the manager of the fund, but there may be some restrictions on this. The amount you get will depend on the value of the units at the time. There may be a fee to pay.</p> <p>Investments in KiwiSaver and other superannuation funds are often locked in until you retire. If this is the case, you usually can't get your money out early.</p> </div>http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/2013-03-27T18:37:29+13:00Financial Markets Authority<div id="teaser-text">Understand the risks that can affect your investment and how to use tactics like diversification to manage them. </div><div id="introduction"> Learn the difference between the normal risks of investing and outright scams. </div><div id="body"> <p>Every investment has risk and dealing with risk is a normal part of investing.&nbsp; It's important you understand the risk each investment has so you can make informed decisions.<strong>&nbsp;</strong></p> <h2><strong><br /> Is it worth the gamble?</strong></h2> <p>Risk is the chance an investment won't give you the outcomes you want. For example, you expect your investment to grow but its value falls. Or you expect regular interest of 4% but interest payments fall to say 2%. Or you expect to be able to get your money whenever you need it but your managed fund suddenly freezes withdrawals.</p> <table> <tbody> <tr> <td>Authorised Financial Advisers (AFAs) and Qualified Financial Entity (QFE) Advisers, for example bank staff, can help explain the risks involved with investments.&nbsp; AFA's have met minimum qualifications and professional standards.&nbsp; They can advise on complex products and can also offer investment management and planning services. &nbsp;QFE Advisers can advise on investment products such as KiwiSaver or managed funds but <strong>only</strong> on the products provided by their company. Spending a bit of time early on with either an AFA or QFE Adviser could save costly mistakes and money in the long term.</td> </tr> </tbody> </table> <p><br /> It's impossible to avoid all risks when you invest. Higher potential returns usually come with higher risks. The important thing is to understand the risks and then keep within a level you are comfortable with.</p> <ul> <li><a href="# Understanding risk-2">Understanding risk</a></li> <li><a href="#Common risks to be aware of-2">Types of risk</a></li> <li><a href="#Use tactics to manage risk-2">Use tactics to manage risk</a></li> <li><a href="#Watch out for investment scams-2">Watch out for investment scams</a></li> </ul> <div> <h2><br /> <a id=" Understanding risk-2" name=" Understanding risk-2"></a> Understanding risk</h2> <p>Successful investors understand the main types of risk that can hit their investments. If you do, you will have a much better chance of avoiding the 'ouch' factor from taking too many risks.</p> </div> <p>The specific risks to keep an eye on depend on your needs and the type of investments you make.<strong>&nbsp;</strong></p> <h3><strong>Short-term savers</strong></h3> <p>If you want to spend your money within 3 years, your main concern will be to protect your capital. A high interest savings account, with a registered deposit-taking institution, carries minimal risk and your money will be available when you need it.</p> <p>The <a href="http://www.fma.govt.nz/help-me-invest/risks-involved-in-investing/case-study-short-term-saving/"> <span>short-term saving</span> <span>case study</span></a> looks at how to manage these risks.<strong>&nbsp;</strong></p> <h3><strong>Long-term investors</strong></h3> <p>If you're investing for the long term, say more than 10 years, you want your capital to grow in value. Risks you face include:</p> <ul> <li>Inflation may erode the purchasing power of your money (this means that a fixed amount of money will buy fewer things in the future).</li> <li>The timing of your decisions may cause lower returns or loss of capital (buying at a market peak, selling when the market is down).</li> </ul> <p>The <a href="/help-me-invest/risks-involved-in-investing/case-study-capital-growth/"> <span>capital growth</span> <span>case study</span></a> gives examples of how to deal with such risks.</p> <h3><strong>Retirees</strong></h3> <p>As a retiree you rely on your investments to give you money to live on. You need them to give you regular, reliable income payments. The risks you face include:</p> <ul> <li>Your investments will not produce a regular, consistent income. For example, share dividends are usually only paid twice a year and are not always paid out. Interest rates can go down, reducing your income.</li> <li>Inflation may erode the purchasing power of your money.</li> </ul> <p>The <a href="/help-me-invest/risks-involved-in-investing/case-study-regular-income/"> <span>regular income</span> <span>case study</span></a> tells one retiree's investing story.<strong><br /> <br /> Check Sorted's website for more information about</strong> <a href="https://www.sorted.org.nz/a-z-guides/retirement-planning"><strong> planning for retirement</strong></a> <strong>and <a href="https://www.sorted.org.nz/a-z-guides/retirement-income">retirement income.</a></strong></p> <p><strong><br /> </strong></p> <h2><a id="Common risks to be aware of" name="Common risks to be aware of"></a><strong><a id="Common risks to be aware of-2" name="Common risks to be aware of-2"></a>Common risks to be aware of</strong></h2> <p>There are other types of risk that can hurt your investments if not managed properly. Interest rate changes, currency movements and changes in the law can all affect how your investments perform. The types of risk that routinely affect investments include:</p> <ul> <li>Interest rate risk: when interest rates rise after you lock in your money, meaning you don't earn as much on your money as you would have if you'd invested at the higher rate</li> <li>Liquidity risk: there might not be buyers interested in your investment when you want to sell</li> <li>Credit risk: the organisation may not be able to repay its debts, and you might lose your money. <a href="http://www.fma.govt.nz/help-me-invest/investing-basics/managing-problems-wth-your-investments/"> Find out more how to sort out problems with your investment.</a></li> <li>Economic risk: the economy may or may not be doing well, which could affect the value of your investment</li> <li>Industry risk: risks affecting a particular industry, like shortages of raw materials or changes in consumer preferences</li> <li>Currency risk: your investment is affected by changes in the value of the New Zealand dollar</li> <li>Inflation risk: your investment doesn't earn enough to keep up with inflation.</li> </ul> <p>Every investment has its own combination of risks and it's important to understand them before you hand over any money. There may be other risks specific to the type of investment or market, in particular, you should always read the 'risks' section of the investment statement, or ask your financial adviser to explain these to you.</p> <h2><br /> <a id="Use tactics to manage risk-2" name="Use tactics to manage risk-2"></a>Use tactics to manage risk</h2> <p>As a general principle, the lower the risk, the lower the likely rate of return. You'll need to take some investment risk to end up with a healthy return over time.<br /> <br /> A good plan meets your goals, protects your capital and maximises returns, without exposing yourself to too much danger.<br /> <br /> You can do this by:</p> <ul> <li>Choosing investments that match your needs and investment timeframes</li> <li>Sticking with mainstream strategies, investment types and providers</li> <li>Diversifying - you'll kick yourself if you lose half your money by putting it all in one place, e.g. one type of investment or one financial institution. <a href="/help-me-invest/risks-involved-in-investing/diversification/"> See <span>diversification</span></a></li> <li>Having some of your investments in low risk assets (such as interest-bearing deposits) that you can draw money from when markets are performing badly</li> </ul> <h2><br /> <a id="Watch out for investment scams-2" name="Watch out for investment scams-2"></a>Watch out for investment scams</h2> <div>There are no shortcuts to investing success. The combination of high returns and low risk does not exist. The golden rule is 'if it sounds too good to be true, it probably is too good to be true'.</div> <p><a href="http://www.fma.govt.nz/keep-updated/warnings,-alerts-and-scams/being-alert-to-scams/"> Being alert to scams</a> will help you stay safe.&nbsp; Scammers will go to great lengths to come between you and your money so stay one step ahead by checking our <a href="http://www.fma.govt.nz/keep-updated/warnings,-alerts-and-scams/"> latest warnings, alerts and scams.</a> You can also check the <a href="http://www.consumeraffairs.govt.nz/scams/">Ministry of Consumer Affairs website for their latest scam information</a>.</p> <p><strong>Investing is never going to be risk free. With careful planning, you can identify and manage the risks that are most likely to trip you up. <a href="/help-me-invest/risks-involved-in-investing/diversification/"> Diversification</a></strong> <strong>is the best tool you have for overcoming investment risk.</strong></p> <h6>Reproduced and adapted with permission of ASIC.&nbsp; Source: MoneySmart website <a href="http://www.moneysmart.gov.au">www.moneysmart.gov.au</a>&nbsp;31 August 2012.</h6> </div>http://www.fma.govt.nz/help-me-invest/types-of-investments/shares/2013-03-27T18:37:28+13:00Financial Markets Authority<div id="teaser-text">When you buy shares you buy part of a company.</div><div id="body"> <p>When you buy shares you buy part of a company.</p> <p>As a shareholder in the company you may be paid a dividend on your shares. Like any business, the companies you invest in may perform strongly or poorly depending on a number of factors. These include the economy in general and trends being experienced by the industry in which the company operates. As a result, the dividend paid on your shares can go up or down depending on how profitable the company is. It may not be paid at all.</p> <p>Similarly, share prices rise and fall over time. If you sell shares for more than you paid, you make a capital gain on your investment. But you will lose money if you sell when the price is lower than the price you paid.</p> <h2>Listed companies</h2> <p>Many companies list their shares on a stock exchange like New Zealand's exchange NZX. To buy or sell shares in a company listed on an exchange, you can use a stockbroker registered with that exchange.</p> <p>Trading through a stock exchange offers some protections for investors, because both the company and the stockbroker must comply with the rules of the exchange.</p> <p>The price of listed shares is available in newspapers and on the internet, including on the website of New Zealand's exchange <a href="http://www.nzx.com">NZX</a>. This allows you to watch and see how share prices change over time.</p> <p>Stockbrokers typically charge brokerage when you trade. This may be a proportion of the amount you spend or it may be a flat fee for each trade. Some offer research and advice as well as trading services.</p> <p>Stockbrokers are listed in the Yellow Pages and on the NZX website.</p> <h2>Unlisted companies</h2> <p>You can buy shares in companies that are not listed on an exchange. But be aware it is likely to be harder to sell these shares, as there may not be an established market for their sale. Also, unlisted companies and their trading activities are not subject to all the rules that protect investors in listed companies (like insider trading and continuous disclosure laws).</p> </div>http://www.fma.govt.nz/help-me-invest/types-of-investments/managed-funds/2013-03-27T18:37:28+13:00Financial Markets Authority<div id="teaser-text">Money from individual investors is pooled and invested by a fund manager. </div><div id="body"> <p>Money from individual investors is pooled and invested by a fund manager.</p> <p>When you put your money into a managed fund, the investment decisions are made for you by the fund manager. Having a large pool of money to invest means the manager can usually get better deals than any one person.</p> <p>The fund manager puts investors' money into a range of investments depending on the nature of the fund. Each fund has its own rules about what the manager can invest in, and these rules are set out in the trust deed or a deed of participation, and/or the investment statement for the fund. Some funds invest in shares, debt securities and property, both in New Zealand and overseas. Others specialise in particular types of investments or countries.</p> <p>You can pick a managed fund with lower, medium, or higher risk depending on the level of risk that suits you. Read more about <a title="Risks Involved in Investing" href="/help-me-invest/risks-involved-in-investing/">risk</a> and your <a href="http://www.sorted.org.nz/calculators/risk-recommender/">risk profile</a>.</p> <p>You pay fees when you invest in a managed fund. Different funds charge different fees and they can be quite complicated. For example, there may be an initial fee when you first invest in a fund, an annual management fee, and an exit fee when you cash in your investment. Some managed funds also charge separate administration fees.</p> <p>Important information about the fund, including fees, risks and what it can invest in, should be summarised in the investment statement for the fund. More detailed information is in the fund's prospectus.</p> <h2>Types of managed funds</h2> <p>Unit trusts, group investment funds (GIFs) and superannuation schemes are the main types of managed funds.</p> <p>When you invest in a unit trust or a GIF, you buy 'units' which represent a share of all the assets owned by the fund. As well as the fund manager, the fund will have a trustee to look after the assets for investors. For GIFs, the trustee may also manage the fund, or it may be externally managed. The value of your units in a unit trust or GIF will go up or down as the value of the fund's investments changes.</p> <p>Some managed funds are listed on New Zealand's exchange <a href="http://www.nzx.com">NZX</a> or overseas stock exchanges. You can buy and sell units in these funds. If you have units in a managed fund that is not listed on a stock exchange you can usually sell them back to the manager. However, you should check whether there are any restrictions on this.</p> </div>http://www.fma.govt.nz/help-me-invest/types-of-investments/other-investments/2013-03-27T18:37:28+13:00Financial Markets Authority<div id="teaser-text">Property and other options.</div><div id="body"> <p>Property is another common investment, and you can find out more about investing in <a href="http://www.sorted.org.nz/home/sorted-sections/investing/investment-types"> property</a> at the Sorted website.</p> <p>There are also investments such as property schemes, contributory mortgage schemes, agricultural and forestry schemes, and futures contracts. Some of these investments are complicated, and if you are interested in them it would be wise to contact a financial adviser.</p> </div>http://www.fma.govt.nz/help-me-invest/types-of-investments/fixed-interest-investments/banks/2013-03-27T18:37:27+13:00Financial Markets Authority<div id="teaser-text">Banks offer a wide range of fixed interest investments including savings accounts and term deposits.</div><div id="body"> <p>Banks offer a wide range of fixed interest investments including savings accounts and term deposits.</p> <p>When you invest, the bank uses your money to lend to someone else at a higher rate of interest than they are paying you.</p> <p>Banks are supervised by the <a href="http://www.rbnz.govt.nz/nzbanks/">Reserve Bank of New Zealand</a> and must have a credit rating.</p> <p>Banks must have:</p> <ul> <li>an investment statement explaining the investment (for most investments)</li> <li>a general disclosure statement explaining the bank's financial position</li> <li>a key information summary of their financial performance and risks that is published every three months.</li> </ul> <p>If you ask for these documents, they must be given to you.</p> </div>http://www.fma.govt.nz/help-me-invest/types-of-investments/fixed-interest-investments/finance-companies,-credit-unions,-and-building-societies/2013-03-27T18:37:27+13:00Financial Markets Authority<div id="teaser-text">Other than banks, finance companies, credit unions, and building societies offer fixed interest investments.</div><div id="body"> <p>Banks aren't the only organisations that are in the business of taking deposits from the public and lending money to others. These other organisations are called 'non-bank deposit takers' and they include finance companies, credit unions and building societies.</p> <p>The sorts of fixed interest investments they offer include bonds, debentures, term deposits and savings accounts.</p> <p>Non-bank deposit takers are overseen by the Reserve Bank of New Zealand and the Financial Markets Authority, and most must have a credit rating.</p> <p>They must also have:</p> <ul> <li>a trust deed setting out what the organisation can do with investors' money and a trustee, whose job is to look after investors' interests</li> <li>an investment statement (for most investments) and prospectus that explain the investment. These should tell you about the people the organisation is lending your money to, and help you assess whether the interest rate offered reflects the risk of the investment.</li> </ul> <h2>Finance companies</h2> <p>Finance companies come in various shapes and sizes, and the risk of their investments varies as well.</p> <p>Their interest rates are generally higher than bank rates, and this reflects the higher risk involved in a finance company investment. The collapse of many finance companies in recent years highlights the importance of understanding the risks before you invest.</p> <p>Most finance company investments are for a fixed term. Usually this means you can't withdraw your money until the end of the term even if the company's financial position deteriorates. If you can cash in the investment early, you will probably have to pay a fee.</p> <h2>Credit unions and building societies</h2> <p>A small number of building societies and credit unions belong to the government's extended retail deposit guarantee scheme. For a <a href="http://www.treasury.govt.nz/economy/guarantee/retail/index.htm"> list of these institutions</a> and answers to <a href="http://www.treasury.govt.nz/economy/guarantee/retail/qanda">common questions</a> about the extended scheme, see the Treasury website.</p> <p>Where your investment is for a fixed term, a fee may be charged if you want to get your money back before that term is up.</p> </div>http://www.fma.govt.nz/help-me-invest/types-of-investments/fixed-interest-investments/companies/2013-03-27T18:37:27+13:00Financial Markets Authority<div id="teaser-text">Some companies offer fixed interest investments, particularly bonds and debentures.</div><div id="body"> <p>Some companies offer fixed interest investments, particularly bonds and debentures. The company takes your money and uses it to fund its investments and activities.</p> <p>But, as with other investments, it is good to remember that higher promised returns usually indicate higher risk. Before you buy a company bond, you need to have some understanding of what the company does, how strong it is financially and how it might be affected by local and international events.</p> <p>It's also important to look at the ranking of bonds (where you stand in the queue of debtors waiting to be repaid), the security behind the bonds - if any - and the term of the investment. Some bonds have interest rates that can change, or 'reset' during the term of the bond, and it's important to understand if this is the case.</p> <p>This information should be in the investment statement and prospectus for the investment, or you can talk to a financial adviser. Credit ratings can also help you assess the company's financial strength.</p> <p>Bonds quoted on New Zealand's exchange <a href="http://www.nzx.com">NZX</a> or an overseas stock exchange can be sold more easily, have additional regulatory protections and the transparency of a listed market.</p> </div>http://www.fma.govt.nz/help-me-invest/types-of-investments/fixed-interest-investments/2013-03-27T18:37:26+13:00Financial Markets Authority<div id="teaser-text">A fixed interest investment is where you invest your money and are paid a set amount of interest until your capital is repaid.</div><div id="body"> <p>A fixed interest investment is where you lend someone money, and they pay you a set amount of interest and agree to repay you at a certain time.</p> <p>There are many different types of fixed interest investments, including bonds, term deposits and debentures. The organisation issuing the investment is called the issuer. Governments, banks, finance companies, credit unions, building societies and companies all offer fixed interest investments.</p> <p>The risks associated with each of these types of issuers varies. Government bonds are generally considered to be the lowest risk investment.</p> <p>Generally, the higher the risk of an investment, the higher the return should be. But be aware that sometimes the return being offered may not adequately reflect the risks of the investment.</p> <p>Some issuers of fixed interest investments may be independently rated by credit rating agencies. Investors should not make a decision to invest in fixed interest securities based on the advertised rate alone. An assessment of the credit-worthiness of the issuer is another important consideration.</p> <p>Some fixed interest investments can be bought and sold on exchanges, including New Zealand's exchange <a href="http://www.nzx.com/markets/nzdx/">NZX</a>.</p> </div>http://www.fma.govt.nz/help-me-invest/types-of-investments/fixed-interest-investments/government/2013-03-27T18:37:26+13:00Financial Markets Authority<div id="teaser-text">Kiwi Bonds are fixed interest investments offered by the New Zealand Government.</div><div id="body"> <p>Kiwi Bonds are fixed interest investments offered by the New Zealand government.</p> <p>Kiwi Bonds are very low risk because the interest payments and the repayment of your money are guaranteed by the government. This is reflected in Kiwi Bonds' credit rating of AAA, which is the highest possible.</p> <p>You buy Kiwi Bonds for terms of six months, one year or two years. You can't trade Kiwi Bonds but you can transfer ownership to someone else. Find out more from the <a href="http://www.nzdmo.govt.nz/securities/kiwibonds">NZ Debt Management Office</a>.</p> </div>http://www.fma.govt.nz/help-me-invest/investing-basics/risks-involved-with-investing/types-of-risk2013-03-27T18:37:25+13:00Financial Markets Authorityhttp://www.fma.govt.nz/help-me-invest/investing-basics/risks-involved-with-investing/spreading-your-risks2013-03-27T18:37:25+13:00Financial Markets Authorityhttp://www.fma.govt.nz/help-me-invest/investing-basics/risks-involved-with-investing/being-alert-to-scams2013-03-27T18:37:25+13:00Financial Markets Authorityhttp://www.fma.govt.nz/help-me-invest/investing-basics/risks-involved-with-investing/diversification2013-03-27T18:37:25+13:00Financial Markets Authorityhttp://www.fma.govt.nz/help-me-invest/investing-basics/risks-involved-with-investing/borrowing-to-invest2013-03-27T18:37:25+13:00Financial Markets Authorityhttp://www.fma.govt.nz/help-me-invest/investing-basics/risks-involved-with-investing/case-study-short-term-saving2013-03-27T18:37:25+13:00Financial Markets Authorityhttp://www.fma.govt.nz/help-me-invest/investing-basics/risks-involved-with-investing/case-study-medium-term-saving2013-03-27T18:37:25+13:00Financial Markets Authorityhttp://www.fma.govt.nz/help-me-invest/investing-basics/risks-involved-with-investing/case-study-capital-growth2013-03-27T18:37:25+13:00Financial Markets Authorityhttp://www.fma.govt.nz/help-me-invest/investing-basics/risks-involved-with-investing/case-study-regular-income2013-03-27T18:37:25+13:00Financial Markets Authorityhttp://www.fma.govt.nz/help-me-invest/investing-basics/keeping-track-of-your-investments/2013-03-27T18:37:24+13:00Financial Markets Authority<div id="teaser-text">Keep an eye on your investments rather than adopting a ‘set and forget’ approach.</div><div id="body"> <p class="article-title2">Eyes wide open</p> <p>Tempted to just invest and forget? You'll feel much more informed and confident if you look at your investments every so often.</p> <p>Having an Authorised Financial Adviser (AFA) or Qualified Financial Entity (QFE) Adviser means you can arrange to have regular meetings about your investments and make changes to your portfolio (remember fees could apply).</p> <p>Keep your eyes open and be prepared to ask questions of your adviser or the product issuer. Watch out for warning signs that tell you something may be going wrong. Things change, so review your plans regularly.</p> <ul> <li><a href="https://www.moneysmart.gov.au/investing/investing-basics/keep-track-of-your-investments#track"> </a><a href="# Keep track of each investment-2">Keep track of each investment</a></li> <li><a href="#Look out for warning signs-2">Look out for warning signs</a></li> <li><a href="#Review your plans -2">Review your plans</a></li> <li><a href="#Coping with sudden changes-2">Coping with sudden changes</a></li> </ul> <div> <h2><br /> <a id=" Keep track of each investment-2" name=" Keep track of each investment-2"></a> Keep track of each investment</h2> </div> <p>For each investment you have, you'll receive periodic transaction statements showing the value of your investments and the fees and taxes paid. Store these records in a safe place, so that you can easily lay your hands on them for accounting and tax purposes.<br /> <br /> Good record keeping is an essential part of investing. Treat your paperwork like your best friend-it will save you from stress in the future.<br /> <br /> You may also wish to watch your portfolio by periodically looking at websites or newspapers. You don't have to check every day but it's easy to check the price of shares and units in managed funds and KiwiSaver funds.<br /> <br /> If you have invested for the long term, don't be spooked by short-term ups and downs.</p> <div> <h2><br /> <a id="Look out for warning signs-2" name="Look out for warning signs-2"></a>Look out for warning signs</h2> </div> <p>There's no guaranteed way to spot losses in advance but sometimes there are warning signs that an investment may be heading downhill. Here are some typical warning signs to look out for.</p> <h3>Accounting problems</h3> <p>Mistakes, delays, audit qualifications and controversy over accounts could be warning signs. Accounting rules can be complex and genuine errors or differences of view do occur, but repeated issues may indicate deep-seated problems.</p> <h3>Published statements</h3> <p>A key ongoing requirement for listed companies is to disclose certain information to the market in a timely manner through an information service - usually via a stock exchange. It is a good idea to keep an eye out for such announcements as it will help keep you informed as to what is happening within the company. If you belong to&nbsp; KiwiSaver, a good place to look for information is in the annual statements and reports.</p> <h3>Management problems</h3> <p>Director and senior management in-fighting, resignations, breaches of the law or unethical conduct can be warning signs. Changes in management may be necessary, but it could distract the management's attention from running the business.</p> <h3>Over-promising and under-delivering</h3> <p>While even the best managers can make mistakes, ongoing disappointing results, lack of communication and falling service standards may point to something being seriously wrong.</p> <div> <h2><br /> <a id="Review your plans -2" name="Review your plans -2"></a>Review your plans<strong>&nbsp;</strong></h2> <p><strong>It's a good idea to review your financial plan once a year and come up with new strategies if your circumstances change.</strong><br /> <br /> The world changes and so do you. That's why successful investors review their plans regularly. The rule of thumb is to revisit your investment plan at least once a year.<br /> <br /> Start with a review of your financial situation and goals. Perhaps your circumstances have changed. Have there been any births, deaths, marriages, sickness or career changes in your life? Life events may mean some goals are no longer relevant. You may have to come up with some new ones.<br /> <br /> If your goals change, you may have to re-jig your strategies too. A change in your employment status or health may alter the risks you are prepared to take when investing.<br /> <br /> Finally, consider whether the value of the individual investments in your portfolio has changed. If you are making your own buy and sell decisions, you may need to review and rebalance the investment mix to make sure it still matches your strategy and attitude to risk. If you are using a fund manager they will generally make rebalancing decisions for you.</p> </div> <div> <h2><br /> <a id="Coping with sudden changes-2" name="Coping with sudden changes-2"></a>Coping with sudden changes</h2> <p>Market and economic conditions can change rapidly, but a knee-jerk reaction could make things worse - after all you still want to affect this achieving your goals.<br /> <br /> Make a decision based on your long-term investment goals and what you think will happen in the future. Do not make a decision based on what has happened in the past (e.g. my investment has gone down 20%).<br /> <br /> Review your <a href="http://www.fma.govt.nz/help-me-invest/investing-basics/goals-and-risk-tolerance/"> goals and risk tolerance</a>. If your investments still fit your goals and risk tolerance, then you would need a good reason to change.<br /> <br /> If your investments <strong>do not</strong> fit your goals and risk tolerance, you have a tough decision. Should you change investments (and sell when prices are low) or hope that your investments will go up in value? You may want an adviser to assist you with this decision (<a href="/help-me-invest/getting-financial-advice/">see getting financial advice</a>).<br /> <br /> If you have a financial adviser, talk to them. See <a href="http://www.fma.govt.nz/help-me-invest/getting-financial-advice/working-with-an-adviser/"> working with an adviser</a>.</p> <h6>Reproduced and adapted with permission of ASIC.&nbsp; Source: MoneySmart website <a href="http://www.moneysmart.gov.au">www.moneysmart.gov.au</a>&nbsp;31 August 2012.</h6> </div> </div>http://www.fma.govt.nz/help-me-invest/investing-basics/risks-involved-in-investing2013-03-27T18:37:24+13:00Financial Markets Authorityhttp://www.fma.govt.nz/help-me-invest/investing-basics/developing-an-investment-plan/2013-03-27T18:37:23+13:00Financial Markets Authority<div id="teaser-text">Creating a realistic plan that meets your needs and spreads your assets.</div><div id="body"> <h2><strong>Put together your game plan</strong></h2> <p>'Plan your life, live your plan.' Yes, it's a cliché. But when it comes to investing your money, it makes a lot of sense to have a plan.<br /> <br /> Putting a plan together involves developing strategies and choosing the right investments. Working with an Authorised Financial Adviser (AFA) or Qualified Financial Entity (QFE) Adviser can help achieve your financial goals. The work you've already done on goals, timeframes and risk will help to shape your investment plan. <strong>&nbsp;</strong></p> <ul> <li> <p><a href="#Steps to prepare">Steps to prepare</a></p> </li> <li> <p><a href="#Planning for a short-term goal (1-3 years)">Planning for a short-term goal</a>&nbsp;</p> </li> <li> <p><a href="# Planning for medium-term goals (4-9 years)">Planning for a medium-term goal&nbsp;</a></p> </li> <li> <p><a href="#Planning for long-term goals (10+ years)">Planning for a long-term goal&nbsp;</a></p> </li> <li> <p><a href="#Planning for income in retirement">Planning for income in retirement</a><br /> <strong><br /> </strong></p> </li> </ul> <div> <h2><a id="Steps to prepare" name="Steps to prepare"></a>Steps to prepare</h2> </div> <p><strong>Be clear about your current finances</strong></p> <p>The starting point is getting an accurate picture of your current financial situation. Work out what you own, what you owe and what your income and expenditure is.</p> <p>Use the <a href="https://www.sorted.org.nz/calculators/money-planner">Sorted's money planner</a> to get a clearer picture of your financial situation or speak to a financial adviser.</p> <p><strong>Confirm your goals</strong></p> <p>Goals will become the backbone of your investment plan. Write them down, with a timeframe for each goal. <a href="/help-me-invest/investing-basics/goals-and-risk-tolerance/">See <span>goals and risk tolerance</span> for more information.</a></p> <p><strong>Understand risk</strong></p> <p>Understand how much risk you want to take to achieve those goals.</p> <p><a href="/help-me-invest/investing-basics/risks-involved-in-investing"> See the risks involved in investing section for more information.</a></p> <p>Your plan will be the pathway you take to achieve your goals. The course you take will be shaped by where you are now and where you want to get to.</p> <div> <p><a href="https://www.moneysmart.gov.au/investing/investing-basics/develop-an-investing-plan#top"> <br /> </a></p> <h2><a id="Planning for a short-term goal (1-3 years)" name="Planning for a short-term goal (1-3 years)"></a>Planning for a short-term goal (1-3 years)</h2> </div> <p><strong>A good tip to follow is once you know how much you can afford to save, organise a direct payment to a high interest savings account, either from your pay or from your bank account after each pay day.<br /> <br /> </strong> In our <a href="/help-me-invest/risks-involved-in-investing/case-study-short-term-saving/"> <span>short term saving</span> <span>case study</span></a>, Isabel wanted to save a big enough deposit to buy a house within 2 years. Here are some strategies that someone with a short-term goal, like Isabel, could consider:</p> <ul> <li>Pay off credit cards and personal loans first to free up additional cash to save</li> <li>Save a fixed amount each pay period - do a budget to ensure your money is going towards the important things</li> <li>Choose a cash investment with good security and easy access such as a high-interest savings account or term deposit</li> </ul> <p><strong>Check out the</strong> <a href="https://www.sorted.org.nz/"><strong>Sorted website</strong></a> <strong>for more money saving ideas.</strong></p> <h2><br /> <a id=" Planning for medium-term goals (4-9 years)" name=" Planning for medium-term goals (4-9 years)"></a> Planning for medium-term goals (4-9 years)</h2> <p>George and Barbara have two primary school aged grandchildren and want to help financially towards their future education.&nbsp; George and Barbara have decided to:</p> <ul> <li>Invest in a <a href="/help-me-invest/types-of-investments/managed-funds/">managed fund</a> that allows them to get started with just $1,000.</li> <li>Choose a balanced portfolio, as they want better returns than a bank savings account without being too aggressive.</li> <li>Make fortnightly contributions of $20 to the fund</li> </ul> <p>George and Barbara have also shopped around to find a managed fund that suits their circumstances.&nbsp; They also understand that the markets will go up and down but in about 8 years time their investment will have a better outcome than just putting the money in the bank - it should be enough to give their grandchildren a real boost.</p> <div> <p>&nbsp;</p> <h2><a id="Planning for long-term goals (10+ years)" name="Planning for long-term goals (10+ years)"></a>Planning for long-term goals (10+ years)</h2> </div> <p>In our <a href="/help-me-invest/risks-involved-in-investing/case-study-capital-growth/"> <span>capital growth</span> <span>case study</span></a>, Richard wants to retire in 15 years so he uses the profits to pump up the balance of his superannuation fund.<br /> <br /> You can join <a href="http://www.fma.govt.nz/help-me-invest/kiwisaver/">KiwiSaver</a> or a superannuation fund of your choice and make extra contributions as it can be the best way to invest:<strong><br /> <br /> If you are thinking about an appropriate investment choice for your superannuation, also think about how long you have until retirement. If you cannot access your super for more than 10 years, consider investing in a growth investment option and turn an average retirement into a good one.</strong></p> <div> <h2><a id="Planning for income in retirement" name="Planning for income in retirement"></a><br /> Planning for income in retirement</h2> </div> <p>In our <a href="/help-me-invest/risks-involved-in-investing/case-study-regular-income/"> <span>regular income</span> <span>case study</span></a>, Neil and Ann are financially independent retirees. They depend on investment income to cover all their living expenses. They use a mix of growth investments (shares and property) to grow their capital to provide some income. They also have a mix of bonds and a term deposit for secure regular income.<strong><br /> <br /> Check the Sorteds website about</strong> <a href="https://www.sorted.org.nz/a-z-guides/retirement-planning"><strong> planning for retirement</strong></a> <strong>and learning more about</strong> <a href="https://www.sorted.org.nz/a-z-guides/retirement-income"><strong> retirement income</strong></a> <strong>or speak to a financial adviser.<br /> <br /> A good financial plan will outline your needs and goals and set out the best strategies for achieving them. Once you've developed your investment plan, your next challenge will be to choose your investments.</strong></p> <h6>Reproduced and adapted with permission of ASIC.&nbsp; Source: MoneySmart website <a href="http://www.moneysmart.gov.au">www.moneysmart.gov.au</a>&nbsp;31 August 2012.</h6> </div>http://www.fma.govt.nz/help-me-invest/investing-basics/choosing-your-investments/2013-03-27T18:37:23+13:00Financial Markets Authority<div id="teaser-text">How to choose the investments that fit your plan.</div><div id="body"> <h2>Build your portfolio</h2> <p>It's time to pull together all the steps you've taken on your journey to investment success. You're ready to build your portfolio.<br /> <br /> The best place to start is to book time with an Authorised Financial Adviser to give you peace of mind so you can be comfortable with whatever decisions you make.<br /> <br /> Your mix of investments should be based on reasonable returns over your desired timeframe and at an acceptable level of risk. Timeframes discussed here relate to investments outside of super.</p> <ul> <li><a href="#Typical short-term portfolio (1-3 years)">Typical short-term portfolio (1-3 years)</a></li> <li><a href="#Typical medium-term portfolio (4-9 years)">Typical medium-term portfolio (4-9 years)</a></li> <li><a href="#Typical long-term portfolio (10 years +)">Typical long-term portfolio (9 + years)</a></li> <li><a href="#Typical portfolio for retirees -2">Typical portfolio for retirees</a></li> <li><a href="#Check out the investment">Check out the investment</a></li> <li><a href="#Check the credit rating">Check the credit rating</a></li> <li><a href="#Check fees, commissions and charges">Check fees and charges</a></li> <li><a href="#Check legal and tax issues">Check legal and tax issues.</a></li> </ul> <p>&nbsp;</p> <div> <h2><a id="Typical short-term portfolio (1-3 years)" name="Typical short-term portfolio (1-3 years)"></a>Typical short-term portfolio (1-3 years)</h2> <p>In our <a title="Case study short term saving" href="https://www.moneysmart.gov.au/investing/investing-basics/risk-and-return/case-study-short-term-saving"> case study on short-term saving</a>, Isabel's goal was to save for a house within 2 years. Similar short-term goals include saving for a holiday, an education course, a wedding or home renovations. You want investments with:</p> </div> <ul> <li>Risk - no risk of losing your money</li> <li>Volatility - very low risk that the value of your savings will drop</li> <li>Expected return - Typically lower returns but usually guaranteed.</li> </ul> <p>Suitable products could be:</p> <ul> <li>Online savings account (if you could need the cash at any time).&nbsp; Interest rates will vary between financial institutions like a bank, so always do some research first.</li> <li>Term deposit (if you know how long your money can be locked away). Don't let it rollover automatically as it may not be in your best interests</li> </ul> <p>These products could be suitable because the money is available when you need it but still gives a reasonable return.<br /> <br /> Ask yourself:</p> <ul> <li>How quickly will I be able to get my money when I need it?</li> <li>Is it easy to add more savings?</li> <li>Am I getting a good interest rate?</li> </ul> <div> <h2><a id="Typical medium-term portfolio (4-9 years)" name="Typical medium-term portfolio (4-9 years)"></a><br /> Typical medium-term portfolio (4-9 years)</h2> <p>In the <a title="Case study medium term saving" href="https://www.moneysmart.gov.au/investing/investing-basics/risk-and-return/case-study-medium-term-saving"> case study on medium-term saving</a>, Clare invested money in a managed fund so her daughter would have a small nest egg when she finished secondary school. Medium-term investors like Clare should look for investments with:</p> </div> <ul> <li>Risk - low- to medium-level possibility of losing money</li> <li>Volatility - medium; capital value could go up or down 20% in a year</li> <li>Expected return - Typically more than, say an online savings account but it also has the potential for loss.</li> </ul> <p>A suitable product could be a balanced investment option in a <a title="Managed funds" href="http://www.fma.govt.nz/help-me-invest/types-of-investments/managed-funds/"> managed fund</a>. If your timeframe is closer to 4 years, a more conservative investment option may be suitable.<br /> <br /> This could be suitable because:</p> <ul> <li>It is expected to provide better returns than a bank account over the same period</li> <li>Any short-term periods of negative returns should grow back over the period that you are investing</li> <li>It is easy to add money to the investment.</li> </ul> <p>Ask yourself, can I cope with some risk in order to let my money grow over the medium term?</p> <div><br /> <h2><a id="Typical long-term portfolio (10 years +)" name="Typical long-term portfolio (10 years +)"></a><a id="Typical long-term portfolio (10 years +)" name="Typical long-term portfolio (10 years +)"></a><br /> Typical long-term portfolio (10 years +)</h2> </div> <p>In the <a title="Case study capital growth" href="https://www.moneysmart.gov.au/investing/investing-basics/risk-and-return/case-study-capital-growth"> case study on capital growth</a>, Richard is using super to save for his retirement and has a 15-year plus timeframe. Long-term investors like Richard are looking for investments with:</p> <ul> <li>Risk - high, with negative returns expected 4-5 years out of 20</li> <li>Volatility - high; capital value could go up or down by 40% in a year</li> <li>Expected return - typically given the volatility of these investments, there is greater potential for gain but equally greater potential for greater loss than in the medium term case study.</li> </ul> <p>A suitable product could be a growth or high growth option in a superannuation fund or managed fund or direct shares.<br /> <br /> This could be suitable because:</p> <ul> <li>It is expected to provide long-term returns better than a bank account</li> <li>Your capital should grow over time above inflation making up for short-term periods of negative returns</li> </ul> <p>Ask yourself, what's the best way to make my money grow over the long-term and will I be too stressed by short-term fluctuations? <a href="https://www.moneysmart.gov.au/investing/investing-basics/choose-your-investments#top"> <br /> </a></p> <div> <h2><a id="Typical portfolio for retirees -2" name="Typical portfolio for retirees -2"></a>Typical portfolio for retirees</h2> </div> <p>In the <a title="Case study regular income" href="https://www.moneysmart.gov.au/investing/investing-basics/risk-and-return/case-study-regular-income"> case study on regular income</a>, Neil and Ann, like many financially independent retirees, rely on income from their investments to cover all their living expenses. Because of their age they don't have the capacity to recover from capital losses. At the same time they need solid returns so their capital will last for many years. They need investments with:</p> <ul> <li>Risk - moderate; expect negative returns 2-3 in every 20 years</li> <li>Volatility - medium</li> <li>Expected return - to be typically in line with what a balanced fund could offer.</li> </ul> <p>A suitable product could be a diversified portfolio of balanced and some growth managed funds. This is because it provides a mix of investments to ensure income stays regular but capital also grows over time.<br /> <br /> Ask yourself:</p> <ul> <li>Are my investments diversified enough so I feel secure about getting regular income but can still see my capital growing over time?</li> <li>Am I comfortable with short-term fluctuations in the value of my investments?</li> </ul> <p><strong>If you are thinking about what investment mix is right for you</strong>, <strong>check</strong> <a href="https://www.sorted.org.nz/calculators/investment-recommender"> <strong>Sorted's Investment recommender</strong></a> <strong>&nbsp;to help you develop your investment plan.</strong></p> <p><strong><br /> </strong></p> <h2><a id="Check out the investment" name="Check out the investment"></a>Check out the investment</h2> <p>Do you have enough information to understand how the investment product works and identify the associated risks? Be sure to read the Investment Statement and if you want to go further, the Prospectus. See if you can describe to a friend or partner how the product works - how your money will be invested, how the product will generate returns, and how these will be paid to you. If you don't understand it, don't invest in it.<br /> <br /> Be cautious of any investment that seems complex or that you don't fully understand or sounds too good to be true.&nbsp; Always check what the risks of investing in it are. Check <a href="http://www.fma.govt.nz/keep-updated/warnings,-alerts-and-scams/"> warnings, alerts and scams</a> &nbsp;for more information. It's best to stick with mainstream, reliable, tried and tested investments.</p> <h2><a id="Check the credit rating" name="Check the credit rating"></a><br /> Check the credit rating</h2> <p>A credit rating can be an indicator of the riskiness of an investment, especially fixed interest investments. Not all investments have credit ratings so it may not be necessary.&nbsp; Credit ratings also apply to organisations offering investments.&nbsp; These ratings are an assessment of the likelihood that the organisation will default and investors will lose money so it might pay to check that too.<strong><br /> <br /> Check our</strong> <strong><a href="http://www.fma.govt.nz/help-me-invest/getting-the-right-information/credit-ratings/"> Credit ratings</a></strong> <strong>page for more information.</strong></p> <div> <h2><a id="Check fees, commissions and charges" name="Check fees, commissions and charges"></a><br /> Check fees, commissions and charges</h2> </div> <p>What are the commissions, fees or other charges? What is the interest, if you're <a href="/help-me-invest/risks-involved-in-investing/borrowing-to-invest/"> borrowing to invest</a>? All costs reduce the return on your money. Know what you're buying and how you're paying for it.<br /> <br /> By law you have to be provided this information but if you are unsure, don't be afraid to ask. It's important to know what you're paying for, how much it will cost and how you will pay for it. You are paying for a service so it's vital you factor these costs when investing. Ask how commission will be calculated. Check what charges apply should you be need to withdraw your money earlier than expected. Make sure you understand and are comfortable with the payment arrangements before proceeding. If you're getting investment advice, ask your adviser if the costs include a review of your investments at regular intervals or if you must pay separately for that service.<strong><br /> <br /> For more information</strong> <strong><a href="http://www.fma.govt.nz/help-me-invest/getting-financial-advice/choosing-an-adviser/"> check our questions to ask when choosing an adviser</a></strong><strong>.</strong></p> <h2><a id="Check legal and tax issues" name="Check legal and tax issues"></a><br /> Check legal and tax issues</h2> <p>Your financial and tax situation may be different from your neighbours or workmates. You may need to get professional advice about how an investment will affect your particular situation. A solicitor can explain your legal obligations and an accountant can explain tax issues.</p> <p><strong>Once you've chosen your investments, it's important to put some processes in place to <a href="http://www.fma.govt.nz/help-me-invest/investing-basics/keeping-track-of-your-investments/"> keep track of your investments</a>.</strong></p> <h6>Reproduced and adapted with permission of ASIC.&nbsp; Source: MoneySmart website <a href="http://www.moneysmart.gov.au">www.moneysmart.gov.au</a>&nbsp;31 August 2012.</h6> </div>