Insurance Tailors Limited, FSP731452, holds a licence issued by the Financial Markets Authority to provide financial advice.
Insurance Tailors Limited is the Financial Advice Provider.
You can contact us at:
Phone: 09 272 3560
Address: 8A Sylvia Park Road MT Wellington 1060
NATURE AND SCOPE OF ADVICE
Insurance Tailors advisers provide advice about:
- Personal insurance (risk), including Life insurance, Trauma insurance, Income protection insurance, Disability insurance, Mortgage repayment insurance and Private health insurance.
- Fire & General insurance, including Home & Contents insurance and Motor vehicle insurance.
- KiwiSaver (information only)
We provide advice in relation to the following products:
- Life Insurance
- Trauma Insurance
- Total & Permanent Disability Insurance
- Health Insurance
- Income Protection
- Mortgage repayment Insurance
- Home & Contents Insurance
- Motor Vehicle Insurance
- Kiwisaver information only
We provide advice in relation to products provided by the following companies:
- AIA / Sovereign
- Fidelity Life
- Partners Life
- Southern Cross Health
- NIB Health
- Generate Kiwisaver
- Blanket underwritten by Ando
FEES AND EXPENSES
Insurance Tailors does not charge fees, expenses or any other amount for the financial advice provided to its clients.
CONFLICTS OF INTEREST
For life insurance and health insurance, Insurance Tailors receives commissions from the insurance companies whose policies we can recommend. If you decide to take out insurance that we recommend, the insurer will pay a commission to Insurance Tailors. The amount of the commission is based on the amount of premium associated with your cover; specific commissions will be advised to you when advice is provided.
If you decide to implement a KiwiSaver account or change your existing provider to a provider used by Insurance Tailors Ltd, the KiwiSaver provider will pay a fee of between $40 -$240 initially. In addition, the provider will pay a commission of 0.25% annually, based on the balance you have in your KiwiSaver account each month.
While we cannot provide advice on fire and general (house, contents and motor) insurance with Tower, we can refer you to Tower for advice on these products, if your adviser feels they are suitable for your needs, and with your consent. Should you choose to implement any insurance recommended by Tower, they will pay Insurance Tailors a fee for referring you to them.
To ensure that our financial advisers prioritise the client’s interests above their own, we follow an advice process that ensures our personalised recommendations are made on the basis of the client’s goals and circumstances, as advised to us. Insurance Tailors financial advisers complete regular training, including how to manage conflicts of interest. Each adviser has a regular compliance review of their advice process completed by our external compliance consultant.
DISPUTES AND COMPLAINTS
If you are not satisfied with our financial advice service you can make a complaint by emailing firstname.lastname@example.org, or by calling 09 272 3560 or 021622377. You can also write to us at: Insurance Tailors Po Box 58682 Botany Auckland 2163. When we receive a complaint, we will consider it using 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 Dispute Resolution Service who 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 Dispute Resolution Service via their website www.fdrs.org.nz or by calling 0508337337 or in writing to FDRS Freepost 231075 PO Box 2272 Wellington 6140.
Insurance Tailors, and anyone who gives financial advice on our behalf, has 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 (431K)
• exercise care, diligence, and skill in providing you with advice (431L)
• 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) (431I
• 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.