I am a financial adviser and provide advice on behalf of Lifestyle Cover NZ Ltd (FSP712413), which is licensed as a Financial Advice Provider by the Financial Markets Authority.
Both Lifestyle Cover NZ Ltd and I are registered on the financial service providers registry which can be viewed at fsp-register.companiesoffice.govt.nz
Relevant history / Qualifications
I have been in the industry for 3 years.
Personal Risk (Life, Income, Disability & Health Insurances)
I provide personalised advice that takes into account your individual circumstances to determine the personal risk products that best meet your personal goals and needs.
My recommendation is limited to the products offered by the following companies:
- Fidelity Life
- Partners Life
To ensure that advice remains accessible, Lifestyle Cover NZ Ltd does not charge an upfront fee for providing personal risk insurance advice or for implementing advice if you decide to proceed.
In place of an upfront fee, Lifestyle Cover NZ Ltd is paid a commission by the recommended insurance provider from the premium they charge you for your cover. This commission will range from 30% to 220% of the first year’s premium, depending on which insurance company you take out cover with. I will then receive a servicing commission which will range from 5% to 25% of the annual premium for the Iife of the policy. I will confirm the amount of commission Lifestyle Cover NZ Ltd will receive when I provide my recommendation to you.
General Insurance (Home, Contents & Car)
When offering Blanket or StyleCover Insurance, Lifestyle Cover NZ Ltd works with you to determine what risks you wish to cover and provide quotes based on the levels of cover you wish to put in place. We will work with you to determine whether there are any particular risks you have that need to be specified during the application process.
I am also able to refer you to Tower Insurance who can assist with quotes for their range of insurance options. When we refer to them, they will assist to determine what risks you wish to cover and provide quotes based on the levels of cover you wish to put in place. They will work with you to determine whether there are any particular risks you have that need to be specified during the application process.
Lifestyle Cover NZ Ltd services are limited to the following General Insurance providers:
- Blanket Insurance (underwritten by Ando Insurance)
- StyleCover / AON
In place of an upfront fee, Lifestyle Cover NZ Ltd is paid a commission by the recommended insurance provider from the premium they charge you for your cover. Lifestyle Cover NZ Ltd will receive a commission of between 50% and 60% of the amount that Blanket & StyleCover receives and 5-10% of the amount Tower receives for any house, car, or contents policy that is put in place through me.
Lifestyle Cover NZ Ltd does not receive any volume or sales target-based payments from any of our General Insurance Providers. With our Provider Blanket to ensure your needs are prioritised, you will receive a written advice document that outlines the cover and why it was implemented.
While I don’t provide commercial insurance as part of my product offering, I am able to refer you to AON who have access to some of the most comprehensive policies on the market. If you take out a policy with AON on the back of my referral, I will receive a referral commission that will range from 10% to 20% of the amount that AON receives, depending on which insurance products you take out cover with, after taxes and levies.
KiwiSaver & related managed investment products
I am able to provide a generalised advice service for KiwiSaver and WealthBuilder products. This involves discussing what level of financial risk you are comfortable with and recommending a fund type that best matches your attitude toward risk and the length of time until you plan on accessing your funds (from conservative through to aggressive).
Once you confirm what type of fund you wish to proceed with, I will show you the relevant funds available to you through the providers I work with:
- NZ Funds
Depending on which provider you choose to go with, Lifestyle Cover NZ Ltd can be paid either an upfront fee from $30 to $300 and/or a commission of between 0.25% and 0.5% of funds under management. I will confirm how much Lifestyle Cover NZ Ltd will receive when I provide my recommendation.
While I don’t provide home lending advice as part of my product offering, I am able to refer you to an external mortgage adviser who works with banks and lenders to recommend the lending products and solutions that best fit your circumstances. If you take out a loan with them on the back of my referral, I will receive a referral commission that will range from 20% to 30% of the upfront commission depending on your total loan amount.
I Work For You
As a Financial Adviser, it is my duty to abide by the Code of Conduct for Financial Service Providers.
Although Lifestyle Cover is paid by the providers for the services I provide, it is you that I work for. To ensure I put your interests ahead of my own, I follow a 6-step advice process when providing personalised financial advice which is based on your individual goals and needs.
I provide all my recommendations in writing so that you have the opportunity to ask any questions you might have before implementing any of my advice.
We take part in a quality assurance programme to review our advice process on a regular basis with reviews completed quarterly to ensure it is based on the needs of our clients.
If you are unhappy with any aspect of my service, please tell me so that we can manage it through my internal complaint process.
If we are unable to address your concerns, you can contact my disputes resolution scheme, at no cost to you:
Scheme: Financial Services Complaints Limited
Address: Level 4, 101 Lambton Quay, Wellington 6011
Telephone number: 0800 347 257
Email address: email@example.com