Effective from 1 July 2011

Somerset Smith Partners is a Registered Financial Services Provider under the Financial Advisers Act 2008.  Our Financial Service Provider registration number is FSP12342.

The primary Disclosure Statement is important because it provides information about the financial adviser services that our advisers provide to retail customers.  It should help you decide whether to use our advisers and whether to follow any of their financial advice.

Somerset Smith Partners is a Partnership conducting a share broking business.

Financial adviser services we provide and financial products these services relate to.

Somerset Smith Partners may provide financial adviser services to you through one of our Authorised Financial Advisers.  Their financial advice will be class advice unless they are provided with sufficient information about your particular investment objectives, financial situation, goals and needs.  If you are a retail investor and require advice in relation to any of the following products you will need to speak with one of our Authorised Financial Advisers:

• Listed equity securities in New Zealand and offshore,
• Listed debt securities in New Zealand and offshore,
• Bank and finance company debentures,
• Unlisted investments,
• Kiwi Saver, Unit trusts and managed funds (including superannuation funds),
• Portfolio and asset administration services,
• Investment Planning Services,
• Discretionary Management Services.

Whilst an Authorised Financial Adviser may assist with any financial product, a Registered Financial Adviser is restricted in the financial services that he or she may provide.   At Somerset Smith Partners, the products that a Registered Financial Adviser may assist you with include:

• bank deposits (call and term)
• cash management investments
• foreign exchange

Each Somerset Smith Partners Adviser has prepared a disclosure statement which outlines how they may assist you.  A disclosure statement for each adviser is available on request and free of charge.

Our goal is to provide you with the highest levels of quality service and support at all times. But if you do have a complaint or encounter a problem, please let us know as soon as you can. Your feedback helps us continue to improve the products and services we offer. We are committed to sorting things out as quickly and fairly as possible, and we assure you that we will do our best to address your complaint quickly and sincerely.

We will work with you to address your concern as quickly as possible, whilst still providing you options to take the matter further if you are unhappy with the outcome.

Firstly if you have a concern please contact your adviser, or call our Managing Partner at +64 6 835 3126. If the problem is not solved there to your satisfaction, you may contact our Compliance Manager on +64 6 835 3126 or by e-mail at mike@somsmith.co.nz or by writing to the Compliance Manager at PO Box 90, Napier 4140. Our Compliance Manager will then work with you to resolve the matter.

Somerset Smith Partners is a member of Financial Services Complaints Limited (FSCL), which is an approved scheme under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact FSCL. This service will cost you nothing, and will help us resolve any disagreements.

If you wish to contact FSCL, their details are:

e-mail: info@fscl.org.nz
Website: www.fscl.org.nz
Telephone: 0800 347257 (Call Free for consumers) or (04) 472 3725
Fax: (04) 472 3727
Postal Address: PO Box 5967, Lambton Quay,  Wellington 6145

How is Somerset Smith Partners regulated

We are licensed and regulated by the Financial Markets Authority for the financial adviser services we provide. You can check our status at any time on the register of financial service providers at fspr.govt.nz.

You can also obtain information about financial advisers in general, or report information about us or our financial advisers, by contacting the Financial Markets Authority at:

Web: fma.govt.nz
Address: PO Box 1179, Wellington 6140
Investor Helpline: 0800 434 566

How to contact Somerset Smith Partners

We suggest that your first point of contact should be your adviser.

Head Office:       Somerset Smith House, Civic Court, 25 Station Street, Napier 4140, New Zealand
Telephone:         +64 6 835 3126
E-mail:                  napier@somsmith.co.nz