Legal & Independence
We believe in complete transparency. This page explains the legal framework we operate within and our independence from the financial advice industry and product providers, so you can see clearly where we stand and what that means for you.
How the law applies
Financial advice in New Zealand is regulated under the Financial Markets Conduct Act 2013 (FMCA). Schedule 5 of the Act includes an exclusion for financial advice given: (a) in the ordinary course of the business of a non-financial not-for-profit organisation; and (b) for no charge.
Money Unfiltered Charitable Trust is a non-financial not-for-profit organisation, and we provide our services free of charge. Our financial advice is given in the ordinary course of the Trust’s activities and for no charge, so it falls within this exclusion.
This means our advice is not regulated financial advice under the FMCA, and Money Unfiltered Charitable Trust is not a licensed Financial Advice Provider, Financial Adviser, or Nominated Representative.
Our service includes both general financial education and, where appropriate, personalised guidance. In some cases, this may include discussing, comparing, or recommending specific financial products. Even in those cases, we are acting as a non-financial not-for-profit organisation under the FMCA exclusion, not as a licensed Financial Advice Provider. Because of this, it is important that you understand the consequences for you:
- The statutory duties, conduct standards, and other protections that apply to licensed Financial Advice Providers and financial advisers under the FMCA and related regulations do not apply to our advice in the same way.
- You will not have access to an approved financial advice dispute resolution scheme under the FMCA in relation to advice from us, because we are not a licensed Financial Advice Provider.
- You remain responsible for your own financial decisions. Our role is to help you understand your situation and options, but we do not take responsibility for the outcomes of your decisions.
Within this different legal framework, we still aim to act with care and integrity. In particular, we aim to:
- Focus on your interests and circumstances when we provide guidance.
- Give advice and information that we believe is reasonable and suitable, based on what you tell us.
- Maintain governance, documentation, and record-keeping processes to support the quality and consistency of our service.
Our Trust Deed and registration details can be viewed on the Charitable Trusts Register
Unwavering independence
Money Unfiltered Charitable Trust is an independent, volunteer organisation.
Our independence policy is straightforward:
- We do not accept sponsorships, donations, commissions, or any other benefits from financial product providers or financial advice firms.
- We do not receive referral fees or other incentives if we suggest you seek advice from another organisation.
- Any funding we accept from non-financial organisations must not compromise our ability to provide free, unbiased guidance.
Our purpose is to empower you with knowledge and tools so that you can make informed financial decisions. We aim to focus on your interests and circumstances when we provide guidance, but we do so within the legal framework described in the section above, and we are not a licensed Financial Advice Provider.