To open and keep your Invest Direct account active we need some information about your employment, your financial assets, and how you intend to invest. We’re required to gather and keep this information up to date under New Zealand law as part of our anti-money laundering (AML) obligations.
Note: If you hold a joint, trust, or company account, the information we request relates to the account rather than you personally.
How does Invest Direct use the information?
We review your answers to understand where your money comes from and how you expect to invest it. Based on what you tell us and how you use your account, Invest Direct may sometimes ask for additional documents to help open or continue using your account.
If needed, we may ask for evidence of your main source of wealth or in some cases, source of funds.
Source of wealth - This is proof of where the majority of your financial assets originated from (e.g. If your main source of wealth is employment, we may ask for a pay slip or bank statement as evidence)
Source of funds - This is proof of where money came from for a particular transaction you’ve made
New Zealand law requires us to keep your information up to date as part of our anti-money laundering obligations. You can find out more about how we use your information under our Privacy Policy.
Will the information I give be secure?
We’ve got strong processes in place that keep your information private, and we hold it securely. We only share evidence of source of wealth or source of funds with third parties where necessary to meet regulatory requirements.
Will my info be used for marketing purposes?
No it will not. Your personal information is gathered only for our regulatory compliance purposes, and will never be used to sell anything to you.
What if my answers change?
It’s important that you keep your account information up to date. If we notice account activity that doesn’t match what you’ve told us, we may need to contact you and check what’s going on.
What will happen if I do not provide the information in time?
It’s important that you complete the review within the allowed time - even if you think nothing has changed. If you don’t, we may have to restrict your account (preventing you from buying shares) or even take action to close it. But don’t worry, we’ll give you plenty of time to get it sorted!
Need help?
We know that everyone has different circumstances. If you’re unsure what to do or need a hand to get it done, please get in touch with our team.