Disclosure Statement

How will I help you?

I am a financial adviser for Insurance Specialists Limited

I provide financial advice on behalf of Wealth point Limited 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.

Suppliers I advise on and relevant commissions

General Insurance:

  • Vero

  • AMP

  • NZI

  • QBE

  • Ando

  • Delta

  • Star Insurance

  • AIG

  • Chubb

  • Classic Cover

Upfront commission paid by the insurer ranges from 6.0% - 25% depending on the provider.

Life, trauma, health, and travel insurance:

  • Resolution Life

  • Asteron Life

  • Fidelity Life

  • AIA

  • Partners Life

  • Accuro Health

  • NIB Health Southern Cross Allianz

Upfront commission paid by the insurer ranges from 20% - 210% and ongoing trail commission ranges from 5% - 30%depending on the provider.

Limitations on the advice I provide

I do not provide financial advice on KiwiSaver, Lending, or Investments.

Fees

Insurance Specialists may charge a fee for my service, which will either be a flat fee, or based on an hourly rate for work done (or a combination of them both).

The Fee may be applicable, where you have received advice, and Insurance Specialists do not receive income from a third party, or where you have asked me to undertake work and then you do not proceed with my recommendations.

As a Flat fee, typically these fees will be from $450-$2000 depending on the work to do, or an hourly rate of $125.00 per hour.

A fee may be payable when you take up the recommendation, and subsequently, you cancel the recommendation within the timeframe that the providers can take back the commission paid to Insurance Specialists.

Client Fees (if any) will be discussed and agreed at an initial meeting and before I undertake further work and will detail as plus, or inclusive of GST.

Commissions, conflicts of interest and incentives

For services I provide, commissions may be paid by the product provider which may include an initial or upfront commission of a percentage of the value of your insurance premiums.

Ongoing commission may also be paid {depending on the product) which may be a percentage of the value of your premiums calculated periodically.

This commission is paid to Wealth point Limited which has an agreement with the product provider or related parties to distribute their financial products.

Wealthpoint Limited on-pays the commission received to Insurance Specialists whilst retaining a portion of the commission. Wealth point will retain between 3.0% and 25% of any commission received. Wealthpoint may also pay Insurance Specialists rebates on a periodic basis.

The amount of commission paid and whether there are ongoing commission payments will depend on the specific financial provider and type of financial product.

I am paid a salary by Insurance Specialists 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.

I may receive subsidised professional development training from financial providers.

Wealth point 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 Wealth point advisers prioritise the client's interests above their own, our advisers follow an advice process that ensures our recommendations are made on the basis of the client's goals and circumstances. I am regulated by the FMA and are subject to a Wealthpoint quality assurance process 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 the adviser business and Wealth point to identify services and products that may be suitable for your needs. Wealth point 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. You have the right to ask to see and request correction of any personal information my adviser business and/or Wealth point holds about you. My adviser business and Wealth point 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 by law. when required under law.