Disclosure information
Important information that you might like to know about us before we begin our journey together.
Licence status and conditions
NZ Financial Services Group (FSP286965) holds a licence issued by the Financial Markets Authority (FMA) to provide financial advice. Wellington Life Insurance Brokers Limited (FSP731931) is authorised by that licence to provide financial advice.
Nature and scope of the financial advice given
Wellington Life Insurance Brokers Limited provides advice to our clients about their life, health and disability insurances. We also provide financial advice on insurances for business owners.
We are able to provide financial advice from the following product providers:
| Life and disability insurances | AIA, Asteron, Cigna, Fidelity Life, Partners |
| Life Health Insurances | Accuro, Cigna, NIB, Southern Cross |
Our duties
Wellington Life Insurance Brokers Limited and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice. We are required to:
- give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our 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 (these are designed to make sure that we have the expertise needed to provide you with advice)
- meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice).
This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz.
The Code of Conduct standards can be read here: https://www.fma.govt.nz/assets/assets/code-of- professional-conduct-for-financial-advice-services.pdf.
No fees, expenses or other amounts payable for our financial advice
How we are remunerated
For life, health and disability insurance, Wellington Life Insurance Brokers Limited and the financial adviser receive commissions from the insurance companies on whose policies we give advice. If you decide to take out insurance, the insurer will pay a commission to Wellington Life Insurance Brokers Limited and your financial adviser. The amount of the commission is based on the amount of the premium.
The commission is between 30% and 200% of the first year’s premiums of your policy. The amount depends on which insurance company and which insurance policy you choose. Wellington Life Insurance Brokers Limited also receive a commission of between 5% and 17% of the premium for each year the policy remains in force.
Commissions paid to the business cover usual business outgoings and only a portion is paid to the adviser as part of their remuneration/salary.
How we manage any conflicts of interest or other incentives
To ensure that our financial advisers prioritise the client’s interest above their own, we follow an advice process that ensures our recommendations are made on the basis of the client’s goals and circumstances.
All our financial advisers undergo annual training about how to manage conflicts of interest.
We also undertake a compliance audit, and a review of our compliance programme annually by a reputable compliance consultancy firm.
Internal complaints process
If you have a problem, concern, or complaint about any part of the financial advice you have received from us, you may contact us using any of the following means: in writing, by telephone or by email.
Here are our contact details.
| Company Name | Wellington Life Insurance Brokers Limited |
| Attention | The Complaints Officer |
| Address | P O Box 48250, Silverstream, 5142, Upper Hutt |
| Telephone | 027 487 4719 |
| Email address | [email protected] |
| Website | https://wellingtonlifeinsurancebrokers.co.nz/ |
Our Complaint Handling Process
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 about your complaint.
- We aim to resolve complaints within 15 working days of receiving them. If we can’t, we will contact you within that 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 we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact Financial Services Complaints Limited.
Dispute resolution process
If our internal complaints process does not resolve your complaint to your satisfaction, you can contact our external independent dispute resolution scheme. This service is free and may help investigate or resolve the complaint.
We are a member of the Financial Services Complaints Limited’s approved dispute resolution scheme. You can contact the Financial Services Complaints Limited at:
| Company Name |
Financial Services Complaints Limited |
| Address | Level 4, Sybase House, 101 Lambton Quay, Wellington 6011 |
| Postal Address | P O Box 5967, Wellington 6140 |
| Telephone | 0800 347 257 (freephone if within New Zealand) or +64 4 472 3725 (if calling outside New Zealand) |
| Email address | [email protected] |
| Website | http://www.fscl.org.nz/ |
Contact Details
Wellington Life Insurance Brokers Limited (FSP731931) is the Licensed Financial Advice Provider.
You can contact us at:
Phil Congreve, Financial Adviser
Wellington Life Insurance Brokers Limited
P O Box 48250, Silverstream, 5142, Upper Hutt
Phone 027 487 4719
Please let us know if you would like a copy of this information.
About Phil
Experience
Phil has worked in the Financial Services industry for over 45 years, mainly in the areas of personal risk management. Throughout this time, Phil has helped make a difference for many clients during tough times, being involved in many claims across all facets of individual personal risk protection – death, trauma, income protection, total & permanent disability, accidental death and both medical and surgical claims.
Continuing Professional Development
Phil maintains and keeps current a professional development plan which exceeds the requirements to maintain his competence for the financial adviser services which are provided or intended to be provided by him. These include attending workshops and presentations held by financial product providers and Financial Advice New Zealand(FANZ).
Personal
Phil has been an active member of the Upper Hutt community for many years. It is where he and his wife have raised four children and continue to live. From rugby coaching and refereeing to school committees to volunteer work, it is clear that Phil is passionate about all things people. This is reflected in the relationships he has with his clients.
