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:

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 which is currently 0.05% per annum of your KiwiSaver balance. This fee is charged because Milford limits the amount of the advice fee it will pay to 0.20% per annum, but we charge all providers the same advice fee of 0.25% per annum (as explained below). The fee is the difference between our standard advice fee, and the amount Milford pays. Milford will deduct this fee from your KiwiSaver balance each month and pay it to us. It will appear in your KiwiSaver scheme account as a deduction for the full 0.25% fee, and a reimbursement from Milford of 0.20%. The extra amount you will have to pay is taken into account when making a recommendation.

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.

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


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

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


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

We must:

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

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



This website is operated by BetterSaver and is not endorsed by, or affiliated with, the New Zealand government or Inland Revenue. BetterSaver 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.