Public Disclosure Statement
Who Are We?
AdviceKiwi is a financial advice provider. We are authorised to provide a financial advice service under a license issued by the Financial Markets Authority.
Our Contact Details are as follows:
Unit 5a, 100 Fitzgerald Avenue, Christchurch 8011
0221040323
What services do we offer?
We specialise in providing life insurance solutions from our approved insurance providers, to help you manage life’s bumps in the road.
Our Approved Risk and Health Insurance Product Providers are:
AIA, Cigna, Partners Life, Fidelity, Asteron, NIB, Southern Cross
Our Approved KiwiSaver Product Providers are:
Generate, NZFunds
What does our service cost?
You will not be charged a fee, at any time, for any advice given by us, even if you do not take any of the insurance cover recommended to you.
How are our Financial Advisers remunerated?
Commission from Product Providers
Our approved product providers pay AdviceKiwi and our Financial Advisers commisions when you purchase a financial products (such as insurance) through us. We also get remunerated on an ongoing annual basis. During the Advice Process, your Financial Adviser will inform you of all commissions payable, and who will receive them.
Commission from Referral Partners
In some circumstances, we may refer you to another professional (such as an Investment Adviser, or Mortgage Broker). In return, your Financial Adviser may receive a share of the commission payable to that professional. Likewise, if another professional refers you to one of our Financial Advisers, they may receive a share of the commission payable to our Financial Adviser.
Other Incentives
From time to time our product providers may offer your Financial Adviser other incentives. These may include, for example, tickets to an event. During the advice process, your Financial Adviser will inform you of any material incentives that they receive as a result of the advice provided to you.
What duties do our Financial Advisers Have?
Your Financial Adviser has legal duties relating to the advice they give.
They are required to:
- Give priority to your interests by taking reasonable steps to make sure their advice isn’t materially influenced by their 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
- Meet Standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services.
This is a summary of these duties. More information is available by contacting us, or by visiting the Financial Markets Authority website – www.fma.govt.nz
Compliments and Complaints
At AdviceKiwi, we do all we can to provide you with the best service. We value your feedback, Good or Bad. If you have a complaint about any aspect of our service, we’ll do our best to resolve your complaint within a fair and reasonable timeframe. In most cases, we hope to be able to resolve the matter with you. In some cases, further investigation may be required.
Here’s how our Complaints Process works
Investigate and Resolve – After we receive your complaint, we will conduct an investigation to resolve your complaint. Depending on the complexity of the complaint, this could take some time. Please allow up to one month for us to review and explore possible resolutions before coming to a final decision on how to proceed.
Escalation – If a resolution between us cannot be reached, deadlock will be agreed and you will receive a ‘letter of deadlock’. This means that we are unable to take your complaint any further.
What happens in Deadlock? – If we cannot resolve your complaint to your satisfaction, you can contact the ‘Financial Disputes Resolutions Service (FDRS)’ which is a free and independent disputes resolution service, designed to resolve complaints between consumers and financial services providers. If we issue a ‘letter of deadlock’, and your complaint is within their jurisdiction, you may be able to refer your complaint to the FDRS, and they will help to investigate or resolve your complaint.
Financial Disputes Resolutions Service
Freepost 231075,
PO Box 2272
Wellington 6140
0508 337 337
enquiries@fdrs.org.nz
