In order to build a strong long term relationship with you as a prospective new client, we believe that a key foundation of this is to have transparency with you all the way through our relationship together.
The information that we are providing to you here on our website outlines to you important information relating the following:
· Nature and Scope of the Advice we will agree with you as a client
· Our/my regulatory licensing & contact information
· Our/my contact information.
· Our Privacy Statement on how we use your information provided to us
· How we are paid, both Trusted Adviser and myself as your adviser
· Any relevant fees & expenses that we may charge and when
· Our Complaints Handling & Disputes Resolution
· Our Duties Information
· Any important reliability information
Advisers under the Trusted Adviser Ltd, provide advice to our clients about their personal risk insurance, business risk insurance and health insurances as well as KiwiSaver. Our financial advisers provide financial advice in relation to these financial advice products.
Our advisers works with you to determine what risks you wish to cover and provide quotes based on the levels of cover you wish to put in place. We work with you to determine whether there are any particular risks you have that need to be specified during the application process.
We only provide financial advice about products from certain providers:
· For personal and business risk insurances, we work with
· For health insurance, we work with
In providing you with financial advice, our Financial Advisers will only consider existing personal term life, trauma, income protection and health insurance policies (if any). We will not provide advice on existing whole of life or endowment products, so you will need to consult a specialist if you would like advice on those products. We are unable take into consideration or provide advice on financial products issued outside of New Zealand.
· For General Insurance (Home, Contents, Vehicle & Commercial), we work with
✓ F&G Insurance Brokers
Blanket insurance, provided by The Hollard Insurance Company Pty Ltd (Hollard). Administration of this insurance and claims handling services are managed by Ando Insurance Group Limited (Ando) on behalf of Hollard. Hollard is a licensed insurer in New Zealand under section 19 of the Insurance (Prudential Supervision) Act 2010.
· For KiwiSaver, we work with
Our advisers can also provide general advice on the Generate KiwiSaver Scheme. We can help you understand the risks and rewards of KiwiSaver products and the Generate KiwiSaver Scheme. We can also show you how to use a risk profile tool and how to become an investor. We will not provide recommendations or opinions on financial products issued by other providers.
Trusted Adviser Limited holds a licence issued by the Financial Markets Authority to provide financial advice. Trusted adviser (FSP775255) is authorised by that licence to provide financial advice as a Financial Advice Provider (FAP). All of our advisers are registered as regulated Advisers under that licence.
Contact Details for Trusted Adviser Limited:
Physical: 8 Syrah Crescent, Ranui, Auckland, 0612
Postal: PO Box 84448, Westgate, Auckland, 0657
Phone: +64 21 206 9922
As a financial advice provider, a key aspect of our business is obtaining and storing client information and other types of data. Our business will use a range of ways to do this, such as having information in hard and soft copy, using systems, software and other ways to store and retrieve your data.
Some of the information may be stored outside of our business such as in the Cloud or with a third-party provider. We are classed as an Agency in this respect i.e. that is almost everyone holding personal information about others – and we therefore must comply with the Privacy Act 2020.
The Privacy Act 2020 defines principles we need to comply with, including the principle that we can only use information for the purposes for which we collected it.
The systems we use to hold client information include: External hard drives, third party providers such Quote Monster
▪ We ensure all information is kept securely.
▪ We only share and use information as per the agreed purpose.
▪ We only collect personal information necessary for the services being provided and ensure that you the client knows that their information is available anytime they wish to view it.
▪ We ensure that client information is retained and stored in a secure environment.
▪ When we collect client information, we explain the reasons why the information is collected and how it will be used.
▪ We don’t give out any personal information, unless we know exactly who’s asking for it, why they want it and that they are authorised to have it.
▪ We don’t breach client confidentiality.
▪ We don’t collect information that isn’t required to complete the services we agreed with the client.
▪ We don’t leave client information visible for other people to see.
Trusted Adviser Ltd is a business and just like any other business operation it relies on income to function and cover the expenditure costs of operating that business and hopefully make a profit at the end of it.
As a client Trusted Adviser does not charge you a fee directly for implementing any of the policy recommendations to you.
Instead, our income is paid to us directly from the providers in the form of commissions from the providers on whose products we provide financial advice on and you decide to implement.
Once you decide to take out insurance the insurance provider will pay a commission to Trusted Adviser and then Trusted Adviser will pay a commission or fee to your financial adviser for providing this advice to you. As a guide the amount of commission is usually based on the amount of the insurance premium.
Unlike most other traditional businesses though the income (commissions) paid to Trusted Adviser from the providers have a debt period of usually 24 months. This means that should a policy lapse or cancels within this 24 month period then some or all of the commission initially paid to Trusted Adviser initially will be required to be paid back to the provider under the terms of the agency agreements Trusted Adviser holds with them.
To ensure that our financial advisers prioritise the client’s interests above their own, Trusted Adviser’s advisers follow an advice & compliance process that ensures their recommendations are made on the basis of the client’s goals and circumstances and always placing the interests of the client above their own.
In order that you are fully informed once a provider is chosen for a recommendation to you we will confirm with you a more specific commission level again, prior to you making a decision to proceed with that recommendation.
Finally all of our financial advisers undergo annual training about how to manage conflicts of interest. We maintain registers of conflicts of interests, and the gifts and incentives we receive. Trusted Adviser monitors these registers and provides additional training where necessary. Trusted Adviser performs an annual review of our compliance programme.
We aim to be fair and reasonable in our dealings with you, with the view of building a long term relationship with you as a client.
For Risk and Health Insurance
We will not charge a fee for the service we provide to you.
As part of our services to you, we may be required to obtain your medical and financial records. Example: fees charged by your GP or accountant. The cost of obtaining these records will be passed back to you and will be payable by you on the 20th of the following month.
For General Insurance (Home, Contents, Vehicle & Commercial)
In place of an upfront fee, Trusted Adviser Ltd is paid a commission by the recommended insurance provider from the premium they charge you for your cover. Trusted Adviser Ltd do not receive any bonus or sales-based bonus payments from Blanket or F&G Insurance Brokers.
There is no cost to you for this advice however if you choose to join the Generate KiwiSaver Scheme we will be paid a commission. All commissions are paid by the Manager (Generate) and not by you. You will pay the same fees regardless of whether you receive this advice service or not.
If you become a member of the Generate KiwiSaver Scheme you will pay fees in connection with your membership. These fees are set out in the Scheme’s Product Disclosure Statement, available at www.generatewealth.co.nz.
If you are not satisfied with our financial advice service you can make a complaint by emailing email@example.com or by calling +64 21 206 9922.
You can also write to us at Trusted Adviser Limited, PO Box 84448, Westgate, Auckland, 0657
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 10 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 (“FSCL”). Financial Services Complaints Limited provides a free, independent dispute resolution service that may help investigate or resolve your complaint, if we haven’t been able to resolve your complaint to your satisfaction.
You can contact Financial Services Complaints Limited by emailing firstname.lastname@example.org, or by calling 0800 347 257 or +64 (04) 472 FSCL (472 3725). You can also write to them at: PO Box 5967, Wellington 6140, New Zealand.
Trusted Adviser Ltd, 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.
A reliability event is something that might materially influence you in deciding whether to seek advice from me or from Trusted Adviser.
As an example, it would include here details of any legal proceedings against the company or if a Director had been discharged from bankruptcy in the last four years for example.
Neither Trusted Adviser nor Shahram Shoar the Director have been subject to a reliability event.