DISCLOSURE STATEMENT FOR
Bold, O’Neill and Associates Ltd (trading as Bold Insurance) FSP1000372 and Syd Jackson, Financial Adviser – FSP401306
Email: info@boldinsurance.co.nz, PH: 0274 725 933, Web: www.boldinsurance.co.nz
The following information provides you with an important overview of Bold Insurance, our Advisers, our duties and responsibilities to you and how we manage complaints.
Licence Status and Conditions
Bold, O’Neill and Associates Limited FSP1000372 (trading as Bold Insurance) holds a licence issued by the Financial Markets Authority to provide financial advice.
Syd Jackson FSP401306 is authorised by that licence to provide financial advice.
Confirmation of these licences is available at www.fspr.govt.nz
Nature and Scope of Advice
Our financial advisers provide financial advice in relation to risk insurance, such as Life, Trauma, Income Protection, Mortgage Protection, Health insurance policies and KiwiSaver
When providing our advice, we access a wide range of insurance products from various insurance providers in the local market
Bold Insurance has forged relationships with local insurance providers enabling us to provide choice and coverage options plus policy support services. Currently, we are maintaining relationships with Partners Life, Fidelity Life and Asteron Life. Our preferred KiwiSaver provider is Generate.
Fees
Bold Insurance will not charge you a fee for providing financial advice or for arranging, altering or cancelling your insurance program. However, should you cancel within two (2) years of commencement of any insurances arranged by Bold Insurance on your behalf, Bold Insurance will be obliged to repay all or part thereof of any commissions paid to them
In providing appropriate financial advice, particularly with respect to mortgages, we may recommend another service provider to assist us. These providers may charge a fee for the work they do, however, we will advise you of any related fees and charges prior to having them commence any work on your behalf
Conflicts of interest and commissions or other incentives
Bold Insurance is paid a commission from the insurance product provider when arranging insurance with them on your behalf but we have a duty to ensure that the needs and requirements of our customers come first. The amount of commission received varies as it is calculated as a percentage of the insurance premium charged. To ensure that your interests are prioritised and to avoid any conflicts of interest, our Advisers follow an advice process that ensures all recommendations are made only on the basis of your goals and individual circumstances.
Bold Insurance and its Financial Advisers may also receive indirect benefits such as business lunches, tickets to sporting and/or cultural events, corporate promotional merchandise and other unquantifiable minor benefits
Confidentiality & Privacy
We appreciate that as a customer, you trust us with your personal information and we take your privacy very seriously. Any information you provide will be kept confidential and will be securely held. In handling your personal information, we will always comply with the Information Privacy Principles under the Privacy Act and, where applicable, any policies and codes of industry groups to which we belong which allows you upon request access to any information held about you in your file
We do not share your information with any other party without your approval or as required by law. However, to manage and monitor any services provided to you, we may need to disclose information you have provided to certain parties, such as, for example, Insurance companies to whom application for insurance is being made but this will only be with your prior authority
Duties
We are bound by duties under the Financial Markets Conduct Act 2013 (Act) but we believe these to be a minimum standard and strive to always exceed these requirements
We are required to:
- Meet certain standards of competence, knowledge and skill, as set by the Code of Professional Conduct for Financial Advice Services (Code of Conduct). These have been designed to ensure that we have the relevant expertise to provide you with advice and, as such, we will only provide advice and recommendations on those areas that are part of our expertise.
- Take reasonable steps to ensure that you understand the nature and scope of the advice we give you and let you know if there are any limitations on the advice we provide. This will help you ensure that the advice provided meets your goals and objectives .
- Give priority to your interest, by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests.
- Exercise a prudent level of care, diligence and skill.
- Meet certain standards of ethical behaviour, conduct and client care as required by the Code of Conduct. These are designed to ensure that we treat you as we should and give you suitable advice
- Not offer or recommend a financial product that contravenes the Act or related regulations. This gives you peace of mind that the products we recommend are compliant with relevant laws.
- Make certain disclosure information available to you, at certain times, for example when advice is provided.
- We must not provide false, misleading or incomplete information. You can access the Code of Professional Conduct for Financial Advice Services here.
Complaints and Disputes
If you aren’t happy with the advice or service we have provided, you can contact us to make a complaint on 0274 725 933 or
email us at info@boldinsurance.co.nz and we will undertake a complete investigation into the issue with a view to rectifying
it to your satisfaction.
If, however, we cannot agree on how to fix the issue you can contact the Insurance and Financial Services Ombudsman Scheme (IFSO). Bold Insurance is a member of this free, independent dispute resolution service and we are bound by any decision made by them. This service will cost you nothing and will help us resolve any disagreements.
You can contact Insurance & Financial Services Ombudsman Scheme at:
Address: P O Box 10845, Wellington 6143
Telephone number: 0800888202 or 04 4997612 Email address: info@ifso.nz
What can you expect from our Insurance Advisers?
- Good quality, suitable financial advice that puts your interests first.
- Transparency and honesty in our dealings with you.
- Assistance in completing any paperwork for the life, health and/or disability products you select.
- Compliance with all applicable laws relating to the financial advice provided.
- Confidentiality in regard to all information you provide except where it is required by law to disclose it or you have given authority to do so.
- Periodic offers to review your insurance needs and assistance at claim time.
What is expected of you?
- Upfront, accurate and honest disclosure – including any information that is known to you or could be relevant to assessment of your needs and any subsequent application.
- Responsibility for the accuracy of any information or documents provided by you relating to your application. Without accurate information provision of advice that is suited to your needs will not be possible and we accept no responsibility for adverse results in the event that incorrect details have been provided by you.
- It is also important to contact us when your circumstances change, such as, change of home ownership/living situation, change in your occupation, change in your number of dependants to ensure your products remain suited to meet your needs.
