Advice Disclosure - BetterSaver
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Advice Disclosure

Important information about the BetterSaver service

Licence information

BetterSaver Limited (FSP600609) (BetterSaver) holds a licence issued by the Financial Markets Authority to provide a financial advice service.

Nature and scope of financial advice service

BetterSaver provides you with financial advice in relation to KiwiSaver. We only provide advice on KiwiSaver schemes that we have advice arrangements for. We have arrangements with providers of the following KiwiSaver schemes:

  • Booster KiwiSaver Scheme
  • Pathfinder KiwiSaver Plan
  • Fisher Funds KiwiSaver Scheme
  • Fisher Funds TWO KiwiSaver Scheme
  • Generate KiwiSaver Scheme
  • Milford KiwiSaver Plan.

This list may change from time to time. It is possible that a KiwiSaver scheme that we do not advise on would also suit your needs, or might better suit your needs. We list all funds that meet our criteria on our website.

We do not give advice on other investment or financial products from any other provider.


BetterSaver does not charge you a fee to use the service, except where you choose to invest in the Milford KiwiSaver Plan.

If you invest in the Milford KiwiSaver Plan, you will be charged an advice fee from BetterSaver of 0.25% per annum. This fee will be deducted from your KiwiSaver balance at the end of each month. BetterSaver has negotiated for all members in Milford’s KiwiSaver Plan (receiving advice and service from BetterSaver) to receive a rebate of 0.20%* per annum. Milford pays this rebate to your KiwiSaver account at the end of each month. This means the effective cost of using BetterSaver with Milford’s KiwiSaver Plan is 0.05% per annum The reason we do this is because BetterSaver wants to keep the revenue received equal amongst all our providers and all other providers pay an advice fee directly to BetterSaver of 0.25% per annum.

You will not be charged for advice from a BetterSaver financial adviser other than when you choose to invest in the Milford KiwiSaver Plan.

You will also pay management and other fees and expenses out of your KiwiSaver investment. These are explained in the Product Disclosure Statement for your recommended KiwiSaver scheme.

*0.20% p.a. rebate is applied to all Milford KiwiSaver Funds other than Milford KiwiSaver Cash. BetterSaver clients receive a 0.05% rebate for investments in Milford KiwiSaver Cash.

You will not be charged for advice from a BetterSaver financial adviser. However, if you decide to seek advice from a third party financial adviser they may charge you a fee for their services.


BetterSaver receives advice fees from the providers whose KiwiSaver schemes we advise on. If you decide to switch your KiwiSaver investment to one of these providers using BetterSaver then we will receive an advice fee from that provider for providing you with advice. The advice fee is currently 0.25% per annum of your KiwiSaver balance, for all providers. We receive the advice fee for as long as you remain a member of the relevant provider’s KiwiSaver scheme and a BetterSaver client.

BetterSaver may also be reimbursed for costs associated with carrying out ‘Know your Customer’ checks on behalf of KiwiSaver providers.

To manage the conflicts of interest these incentives might pose, the BetterSaver software does not take into account the advice fees or other incentives we receive (other than the extra advice fee payable by Milford KiwiSaver Plan members) when making a recommendation. In addition, the advice provided by BetterSaver (including from a BetterSaver financial adviser) is subject to a quality assurance process that is designed to ensure the advice you receive is suitable.


BetterSaver takes all complaints seriously. If you have a complaint about BetterSaver or the financial advice you receive you can make a complaint by contacting BetterSaver at [email protected].

When we receive a complaint we will confirm receipt, then consider how we can resolve it and let you know. We may need to contact you for more information about your complaint. We aim to resolve complaints within 10 working days of receiving them, but sometimes we need more time. If we need more time we will contact you to let you know.

If a resolution to your complaint cannot be reached or you are unhappy with the outcome of your complaint you can contact BetterSaver’s independent dispute resolution scheme, free of charge, who may help resolve your complaint:

Insurance and Financial Services Ombudsman
Level 2, Solnet House
70 The Terrace
PO Box 10-845
Wellington 6143

0800 888 202
[email protected]


We, and anyone who gives financial advice on our behalf, have legal duties relating to the way that we give advice.

We must:

  • give priority to our clients’ interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests;
  • exercise care, diligence, and skill in providing the advice;
  • meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice); and
  • meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we treat you as we should and give you suitable advice).

This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at

Record keeping and personal information

We will keep records about the advice we provide you through the BetterSaver service for at least seven years. These records will include personal information about you. Records relating to you will be made available to you as soon as practicable after you request them. Requests can be made by contacting BetterSaver at [email protected].

The personal information we collect as part of the BetterSaver service is used in accordance with our privacy policy which is available on our website along with our terms and conditions.

Contact us

You can contact us at:

BetterSaver Limited
10F Morningside Drive,
Auckland, 1025

Email: [email protected]


This website is operated by BetterSaver Limited and is not endorsed by, or affiliated with, the New Zealand government or Inland Revenue. BetterSaver Limited is using the KiwiSaver trade mark and logo under licence from Inland Revenue. To view the official New Zealand government KiwiSaver website, please click here.