Important information about our business

ABC Insurance & KiwiSaver holds a Financial Advice Provider licence issued by the FMA to provide financial advice services. ABC Insurance & KiwiSaver Provider Number is FSP1010675

Our office contact details:

Address: 5 Stratford Way Rangiora
Phone: 0278944335
Email: hello@abcinsurance.co.nz
Website: www.abcinsurance.co.nz


Nature and Scope of financial advice services

Our Services

• KiwiSaver investment strategies and retirement planning

• Personal insurance

Products we can provide financial advice about

• KiwiSaver investments

• Personal and Group insurance 

  • Life cover

  • Disability

  • Income protection

  • Trauma 

  • Health Insurance

Product providers we might recommend (User note: list all providers you might recommend)

• AIA

• Asteron Life

• Chubb Life

• Fidelity Life

• Partners Life

• Southern Cross

• NIB

• Milford

• Booster

• Generate

• Pathfinder

Our fees

We don’t charge our clients fees, expenses or anything else directly for the financial advice we provide.

Commission
To ensure that advice remains accessible, ABC Insurance 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, ABC Insurance is paid a commission for any new insurance taken up, of between 0% and 240% of the first year's premium, depending on which insurance company you take out cover with. 

From year two, ABC Insurance may then receive an annual commission of between 0% and 25% of the premium for the time ABC Insurance remains the servicing adviser on the policy. We will confirm the amount of commission ABC Insurance will receive when we provide our recommendation to you. 

For KiwiSaver depending on which provider you choose to go with, ABC Insurance can be paid either an upfront fee of between $0 to $300 and/or a commission of between 0% and 0.50% of funds under management. We will confirm how much ABC Insurance will receive when we provide our recommendation. 

Conflicts of interest or other incentives

We are here for our clients and to advise you as best we can. Your interests are our priority although we do have business relationships with product providers also.

From time to time our product providers assist us with funding so we can bring our advisers together for conferences and professional development training.

How we manage any conflicts of interest:

To ensure our advisers prioritise our clients’ interests:

• We follow an advice process that ensures our recommendations are made appropriately, based on clients’ goals and circumstances.

• All our advisers undergo annual training about how to manage conflicts of interest. 

• We maintain registers of conflicts of interest and the gifts and incentives we receive. These registers are monitored regularly, and additional training is provided as required.

• We undertake an annual independent Compliance Assurance Review.
  Conflicts of Interest

  At all times, ABC Insurance Ltd will ensure that the clients best interests are first and foremost when we give advice. If a conflict does exist between the companies interests and the client’s interests, the priority will always be given to the client’s interests. Therefore we will only recommend products suitable to the client regardless of the level of commission we can receive.

  For Life and Health Insurance, ABC Insurance & KiwiSaver and its advisers receive a commission from the insurance companies on whose policies we give advice. If you decide to take out insurance, the insurer will pay ABC Insurance & KiwiSaver a Commission. The amount of commission is based on the amount of premium and varies depending on which company you begin a policy with.

  For KiwiSaver, ABC Insurance & KiwiSaver will receive a commission if you go ahead with the advice given and open an account with the chosen KiwiSaver provider. The commission is based on your KiwiSaver balance.

  Sometimes, ABC Insurance & KiwiSaver and its advisers will receive rewards from product providers for the overall business we provide to them. This may be in the form of tickets to events, dinners out, hampers or other incentives.

  To ensure that our financial advisers prioritise our clients’ interests above their own, we follow an advice process that ensures our recommendations are made on the basis of each client’s circumstances and goals. We maintain a register and keep records of any conflicts of interests and the gifts and incentives we may receive. ABC Insurance & KiwiSaver monitors these registers and endeavours to provide additional staff training where deemed necessary. ABC Insurance & KiwiSaver reviews their compliance programme at least annually.

Our duties and obligations to you

We are bound by the duties of the Financial Markets Conduct Act:

• Meet the standards of competence, knowledge, and skill set out in the Code of Conduct

• Give priority to the clients’ interest, and

• Exercise care, diligence and skill, and

• Meet the standards of ethical behavior, conduct, and client care set out in the Code of Conduct.

If you are not satisfied with our financial advice you can make a complaint by emailing hello@abcinsurance.co.nz or by calling 027 8944 335

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

• We aim to resolve complaints within 10 working days from when we first receive them. If we cannot achieve this, we will contact you within this 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 ABC Insurance & KiwiSaver cannot resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact the Financial Disputes Resolution Scheme.

Financial Disputes Resolution Scheme provides a free, independent dispute resolution service that may help investigate or resolve your complaint, if we have not been able to resolve your complaint to your satisfaction.

You can contact the Financial Disputes Resolution Scheme by emailing: enquiries@fdrs.co.nz , via telephone on 0508 337337. You can also write to them at Freepost 231075, PO BOX 2272, Wellington.

If you would like further information or to discuss this disclosure, please feel free to contact ABC Insurance & KiwiSaver directly.