The information contained in this disclosure statement is important and should help you decide which financial adviser to choose.

From 1 July 2011 the Financial Advisers Act 2008 came into force. This Act aims to help customers have confidence in their financial advisers and the services they provide. Telnet Services Limited has been granted the status of a Qualifying Financial Entity or "QFE" under the Financial Advisers Act 2008. As such we are licensed and regulated by the Financial Markets Authority in relation to the financial adviser services we provide.

Telnet Services Limited takes responsibility for the financial adviser services provided by its employees and nominated representatives and maintains procedures to meet its obligations under the Financial Advisers Act.

What is this disclosure statement for?

The purpose of this disclosure statement is to inform our customers of:

• What Services we offer.
• What you can do if you have any feedback or concerns.

and to provide other important information we are required to disclose to you.

What Services do we offer?

The Telnet Services Limited QFE is permitted to provide financial adviser services on category 2 products. The category 2 products we provide financial adviser services on are insurance products such as general insurance, credit repayment, accident, health and life insurance products.

Who provides the services?

All our financial adviser services are provided by employees or nominated representatives of Telnet Services Limited.

What to do if you have feedback or complaint

We value the feedback and opinion of our customers. If you have any feedback, concerns or problems with our service please let us know, and we’ll do our best to resolve it right away. We can be contact via our free phone or our website.

Internal complaints process

It is our aim to resolve any complaints or problems that may arise as quickly and effectively as possible. Details of our internal complaints process below explain how we will deal with your concerns.

Here is what we will do for you:

• Within 5 working days of receiving your complaint we will contact you, acknowledging receipt of your complaint. It is our aim to provide you with a proposed resolution at this point, but if we’re unable to, we’ll let you know.
• If we’ve been unable to offer you a resolution sooner, we will contact you again within 20 working days of receiving your initial complaint with a proposal for resolution.

If you are not happy with how your complaint has been handled you can take your complaint to Financial Dispute Resolution (FDR) to investigate where:

• We have not resolved your complaint within 20 working days; or
• You are not happy with the way we propose to resolve your complaint.

FDR is a free, independent dispute resolution scheme to help consumers and financial service providers to resolve disputes. You may contact them:

Financial Markets Authority

You can obtain information about financial advisers from the Financial Markets Authority and can report information about Telnet Services Limited or its advisers to the Financial Markets Authority.

You can check the status of Telnet Services Limited and whether other entities are a member of the Telnet Services Limited QFE Group on the register at www.fspr.govt.nz.

Contact details for the authority are:

This disclosure statement was prepared on 02 August 2011