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Financial Adviser - Disclosure

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The information provided in this disclosure document is important

Licence status and conditions

Insurance Ladies and Co Limited (FSP 728691) holds a Financial Advice Provider (FAP) licence issued by the Financial Markets Authority to provide financial advice. Insurance Ladies and Co Limited (FSP 1010911) is authorised to provide advice under this licence as an Authorised Body.

Nature and scope of the financial advice given

I am able to provide you with financial advice relating to your personal insurance needs. I am accredited with a wide range of insurance providers to offer you a range of products suitable to your requirements. My role is to recommend a provider to you who is best suited to your needs.

We are able to provide financial advice about the products available from the following product providers: Insurance

Asteron, Chubb, Fidelity Life, Partners Life, NIB, Unimed, Southern Cross, PPS

Fees, expenses and other amounts payable for our financial advice

My service to you includes understanding your requirements and personal situation, analysing the options available, researching the suitability of the products and/or Product Providers, and providing you with my written recommendations.

Both myself and Insurance Ladies and Co Limited are paid in the form of a commission (‘Insurance Commission’) by the Product Providers if you take out a policy following my advice.

Personally, I am remunerated by commission.

Commissions

I receive commissions from the relevant insurance providers if you choose to take up my advice and a policy is put in force. The upfront commissions are between 170% and 240% for risk insurance and between 30% and 149.50% for private health products of the first year’s policy premiums. I will also receive trail commission between 5% and 17.5% of the policy premiums for each year the policy is in force. 

The commission I receive is shared with Insurance Ladies and Co Limited for providing me with compliance support, training and back-office support.

Fees Payable By You:

I do not charge a fee if you decide to take out an insurance policy following my advice. The insurance provider will pay us a commission if you decide to take up our advice. However, I may charge you for the financial advice that I provide if you cancel your health or risk insurance policy within the first two years of its inception and have not given Insurance Ladies and Co the opportunity to review or remedy any changes your might like to undertake.

The fee charged for the financial advice provided to you will be calculated on the following basis: $2,500 (including GST) or a portion there of depending upon the length of time the loan was in place.

Conflicts of interest and commissions or other incentives

This fee will be based on the time it has taken to prepare my advice. The fee for our financial advice is based on up to 10 hours of work calculated at $250 per hour or the amount of clawback from the lender/insurer, whichever is the lesser. This fee will be payable by you within 7 days of an invoice being sent to you.

We will always communicate any potential fee or cost incurred upfront and unless otherwise agreed, any fees payable but you for the advice provided will be payable within 7 days of an invoice being sent to you. 

We have not had to charge a fee to date.

Internal complaints process

If you have a problem, concern, or complaint about any part of the financial advice you have received from us, you may contact us using any of the following means: 

  • in writing:

Complaints Officer
Chanelle Cortland
15 Matheson Road
Red Beach
Auckland

When we receive a complaint, we will consider it following our internal complaints process: 

  • We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.

  • We aim to resolve complaints within 10 working days of receiving them. If we can’t, we will contact you within that time to let you know we need more time to consider your complaint.

  • We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so.

  • If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact Financial Services Complaints Limited.

Dispute resolution process

If our internal complaints process does not resolve your complaint to your satisfaction, you can contact our external independent dispute resolution scheme.  This service is free and may help investigate or resolve the complaint.

We are a member of the Financial Services Complaints Limited’s approved dispute resolution scheme.  You can contact the Financial Services Complaints Limited at:

Financial Services Complaints Limited
Level 4, Sybase House, 101 Lambton Quay
Wellington 6011

Telephone: 0800 347 257 (freephone if within New Zealand) or +64 4 472 3725 (if calling outside New Zealand)

Postal: P O Box 5697, Wellington 6140
Email: complaints@fscl.org.nz
Website: http://www.fscl.org.nz/

Our duties

Insurance Ladies and Co Limited, and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice. We are required to: 

  • give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests.

  • exercise care, diligence, and skill in providing you with advice

  • meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice)

  • meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice).

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 https://www.fma.govt.nz.

The Code of Conduct standards can be read here: https://www.fma.govt.nz/assets/assets/code-of-professional-conduct-for-financial-advice-services.pdf.

Contact Details

Mortgage Ladies and Co Limited (FSP 728691) holds a Financial Advice Provider (FAP) licence issued by the Financial Markets Authority to provide financial advice. Insurance Ladies and Co Limited (FSP 1010911) is authorised to provide advice under this licence as an Authorised Body.

You can contact us at:

INSURANCE LADIES AND CO
Postal address: 15 Matheson Road, Red Beach, Auckland
Phone number: 021 027 30159
Email: enquiries@insuranceladies.co.nz
Web address: www.insuranceladies.co.nz

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