Disclosure Statement
How will I help you?
I am a financial adviser for Insurance Specialists and Wealthpoint General Limited.
Any financial advice I provide is on behalf of Wealthpoint Limited (FSP678011) which holds a Financial Advice Provider Licence.
Unless detailed in this document, my advice and recommendations will be personalised to your specific situation, taking into account your goals, personal situation or your specific needs.
PROVIDERS, RELEVANT COMMISSIONS AND FEES
Relevant fees and commissions from product or platform providers are paid to Wealthpoint Limited, which has an agreement with the providers or related parties to distribute their financial products. Wealthpoint Limited then on-pays the fees and commissions received to Insurance Specialists whilst retaining between 3% and 25%.
For services I provide to you based on the scope agreed, commissions may be paid by the product provider which may include an upfront, ongoing/trail or renewal commission of a percentage of the value of your insurance premium, depending on the specific financial provider and type of financial product.
GENERAL INSURANCE PROVIDERS
The product providers I may recommend for General Insurance are:
Vero, AMP, NZI, QBE, Ando, Delta, Star Insurance, AIG New Zealand, Chubb, Classic Cover, Allianz
Upfront commission paid by the providers ranges from 6% - 25% of the annual premium depending on the provider and type of product. This commission is also paid at each renewal.
The provider may pay upfront commission for any changes to your policy during the period of cover.
I may charge a Broker fee of up to 5% of the annual premium and a processing fee of $35 upfront and at renewal.
RISK PROVIDERS
The product providers I may recommend for Personal Risk Insurance are:
Resolution Life, Asteron Life, Fidelity Life, AIA, Partners Life, Accuro, NIB, Southern Cross
Upfront commission paid by the providers ranges from 20% - 210% of the annual premium and trail commission ranges from 5% - 30% of the annual premium depending on the provider and type of product. Commissions may vary depending on the services, offers and or features of specific products.
LIMITATIONS ON THE ADVICE I PROVIDE
I don’t provide financial advice on KiwiSaver, Lending and Investment, however, we do have specialists within Insurance Specialists and the wider Wealthpoint Network whom I can refer you to.
For the above referrals, I may receive a referral fee of a flat rate or percentage of the commission/fee received by the referred adviser, which will be detailed at the time of the recommendation.
CONFLICTS OF INTEREST AND INCENTIVES
l am paid for my services by Insurance Specialists and Wealthpoint General Limited and may receive bonuses depending on the amount and value of financial products I distribute. I am a director and shareholder of Insurance Specialists and may receive bonuses or dividends depending on the amount and value of financial products I distribute.
Insurance Specialists is a shareholder of Wealthpoint Limited. Wealthpoint may also pay Insurance Specialists rebates on a periodic basis.
I may receive subsidised professional development training from financial providers.
Wealthpoint Limited and Insurance Specialists may receive payments from product suppliers and financial platform providers for the amount of business I place with them.
Wealthpoint may receive funding from suppliers to market and contribute at periodic conferences.
To ensure Wealthpoint advisers prioritise the client's interests above their own, our advisers follow an advice process that ensures our recommendations are made based on the client's goals and circumstances. I am regulated by the FMA and am subject to Wealthpoint quality assurance processes for compliance purposes.
PRIVACY INFORMATION
This statement relates to the personal information that you provide now and in the future. The personal information collected will be held by Insurance Specialists Limited and Wealthpoint to identify services and products that may be suitable for your needs. Wealthpoint can access this information to assist you to provide financial services to you, to administer and service any products you have, to identify other services or products available that may be suitable to your needs, to provide quality control services and to manage complaints.
I may disclose your personal information to other relevant product providers to enable them to assist me to provide financial services to you. Lending providers may do credit checks and gather other information about you.
You have the right to ask to see and request correction of any personal information my adviser business, product provider and/or Wealthpoint holds about you. My adviser business and Wealthpoint hold information about you securely. If you transfer to another adviser business or I sell my client register, I will transfer the information I hold to the new adviser business or Adviser. Your personal information may be disclosed to auditors. Your personal information may be disclosed to regulators when required under law.