Disclosure Statement

Publicly available information – Financial Advice Provider


LICENSING INFORMATION

FutureSense Limited, FSP number 768011, holds a licence issued by the Financial Markets Authority to provide financial advice. Protect Financial Services Limited (FSP number 394606) is authorised by that licence to provide advice.FutureSense Limited, FSP number 768011, holds a licence issued by the Financial Markets Authority to provide financial advice. Protect Financial Services Limited (FSP number 394606) is authorised by that licence to provide advice.

CONTACT DETAILS

Protect Financial Services Limited
Contact Name: Dean Picard
Phone: 021 275 2618
Email: dean@protectfinancial.co.nz,
Address: 44 McCandlish Rd, RD 10, Hamilton 3290

NATURE AND SCOPE OF ADVICE

Protect Financial Services Limited advisers provide advice about:
 

  • Personal insurance (risk), including health insurance

  • Investments

  • KiwiSaver

We provide advice in relation to the following products:

 

  • Life cover, Trauma cover, Total and Permanent Disability, Income Protection, Mortgage Cover, Health Cover, Personal Risk Insurances, Business Risk Insurances, Investments, KiwiSaver

We provide advice in relation to products provided by the following companies:

  • Southern Cross

  • NIB

  • Accuro

  • Fisher Funds

  • Fidelity Life

  • AIA

  • Asteron Life

  • Partners Life

  • AMP

  • Cigna Life

FEES AND EXPENSES

Service fee 


Protect Financial Services Limited may charge a fee for financial advice provided to a client if the client cancels an insurance policy within two years of inception. Whether a fee will be charged, and the amount of the fee will be advised when the advice is provided. This fee will be payable by the client by the 20th of the month after the policy is cancelled.

CONFLICTS OF INTEREST

Protect Financial Services Limited has an agreement for services with IGNITE (a service company that does not provide financial advice). IGNITE has a preferred investment provider agreement with Fisher Funds Management Limited (Fisher Funds) relating to investments placed with Fisher Funds by IGNITE member clients, and a dealership agreement with nib NZ Limited (nib) relating to insurance cover provided by nib for IGNITE member clients.


Under those agreements, IGNITE receives a fee equal to a small percentage of the investments placed with Fisher Funds and premiums paid to nib. No portion of any such fee is paid to Protect Financial Services Limited or its advisers, and we are not under any obligation to place any particular level of business with either Fisher Funds or nib, but Protect Financial Services Limited indirectly benefits from those fees through the IGNITE member services they help fund.


We manage the resulting conflict of interest by ensuring our advisers only recommend Fisher Funds investment products or nib insurance products where the adviser is satisfied that those products provide the best outcome for our clients, when compared with any other product we are able to recommend, having regard to the nature and scope of the service agreed with the client.


For health and personal risk insurance, Protect Financial Services Limited and the financial adviser receive 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 Protect Financial Services Limited and/or the adviser who provides your advice. 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.


From time to time, product providers may also reward us for the overall business we provide to them. They may give us tickets to sports events, hampers, or other incentives.


To ensure that our financial advisers prioritise the client’s interests above their own and to manage the potential conflicts of interest as disclosed above, all Protect Financial Services Limited advisers follow an advice process that ensures personalised recommendations are made on the basis of the client’s goals and circumstances, as advised by the client. Protect Financial Services Limited financial advisers complete regular training, including how to manage conflicts of interest. Each adviser has a regular compliance review of their advice process and our compliance programme is reviewed annually by our external compliance adviser.

DISPUTES AND COMPLAINTS

If you are not satisfied with our financial advice service, you can make a complaint by emailing dean@protectfinancial.co.nz or by calling 021 275 2618. You can also write to us at 44 McCandlish Rd, R D 10 Hamilton 3290. 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 the Insurance and Financial Services Ombudsman. IFSO 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 IFSO by email on info@ifso.nz, by phone on 0800 888 202 or by post at P O Box- 845, Wellington 6143.

 

DUTIES INFORMATION

Protect Financial Services Limited, 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.

REFERRALS

We can also provide referrals, for which we may receive a commission or fee, to provide Mortgage and Lending advice, Budgeting and Financial Mentoring, Accounting services and Business coaching. Advice provided through such referrals by third parties are not covered within our scope of advice.

A PDF version of this disclosure statement is available to download here