IMPORTANT INFORMATION ABOUT US:
FINANCIAL SERVICES 2004 LTD FINANCIAL SERVICES PROVIDER (FSP) NUMBER 81241:
- Is part of the Spratt Financial Group. It is the company that provides advice to individuals on Life, Health and Disability Insurance.
- Life cover is the part of a group of benefits that pays in the event of death or if a terminal illness is diagnosed;
- Early payment of all or some of the Life benefit can be made when a critical illness or major trauma is diagnosed, or when the insured person is assessed as being unable to ever work in their own occupation again.
- Health Insurance is the benefit that pays the medical expenses that are incurred in seeking access to medical, treatment and technology outside the public health system.
- Disability insurance includes benefits that replace earned income and/or continues to pay mortgage instalments in the event that the insured person is too sick or injured to work in their own occupation. It also includes premium waiver which cover the premiums of a policy when the insured person is too sick or injured to work in their own occupation.
Spratt Financial Services 2004 Ltd (FSP 81241) holds a licence issued by the Financial Markets Authority to provide this financial advice.
Spratt Financial Services 2004 Ltd provides advice to our clients, via our licensed advisers, about their, life insurance and health insurance.
Our financial advisers who are licensed to provide this advice are:
- Craig Spratt – FSP Number 110358
- Allan Mearns – FSP Number 287425
- John Dooley – FSP Number 12466
- Bruce McCarroll – FSP Number 67642
- Peter Wilkening – FSP Number 517046
- Gary Whetton – FSP Number 257065
We provide financial advice about products from certain providers:
- For life insurance, we work with the following companies, American International Assurance (AIA), Asteron Life, CIGNA Life, Fidelity Life, Partners Life and AMP Life.
- For health insurance, we work with nib Health, Southern Cross Healthcare, Partners Life, Accuro Health and AIA Life.
- In providing you with financial advice, we will consider existing term life, trauma, permanent disability, mortgage repayment, income protection and health insurance policies (if any) to check that it is still relevant to your current position.
- 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.
OTHER COMPANIES IN THE SPRATT FINANCIAL GROUP ARE:
- >Hood Insurance Brokers, our Fire and General Insurance adviser
- Spratt Corporate Employee Benefits Ltd
- Spratt Investment Services (in partnership with Cambridge Partners Ltd)
FEES OR EXPENSES:
Spratt Financial Services does not charge fees, expenses or any other amount for the financial advice provided to its clients.
CONFLICTS OF INTERESTS AND INCENTIVES:
Spratt Financial Services 2004 Ltd receives commissions from the providers on whose products we give financial advice (the insurers). If you decide to take out insurance , the provider will pay a commission to Spratt Financial Services 2004 Ltd. The financial advisers are salaried employees.
The amount of commission is based on the amount of the premium. From time to time, product providers may also reward us for the overall business we provide to them. We do not accept these offers which are typically tickets to sports events, hampers, or other incentives.
To ensure that our financial advisers prioritise the client’s interests 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 identify and manage conflicts of interest. We maintain registers of conflicts of interests and incentives we are offered. Spratt Financial Services 2004 Ltd monitor this register and provides additional training where necessary, as well as performing an annual review of our compliance programme.
COMPLAINTS HANDLING AND DISPUTE RESOLUTION:
- If you are not satisfied with our financial advice service, you can make a complaint by emailing:
or by calling: Allan Mearns on 09 307-8200 or 021 422 821
You can also write to us at:
Spratt Financial Services
PO Box 99-481
- When we receive a complaint, we will treat the matter with urgency and confirm receipt of your complaint, in writing, via email.
- We will consider it in line with 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 & Financial Services Ombudsman Scheme Inc.
L2, Solnet House,
70 The Terrace,
0800 888 202
- The Insurance & Financial Services Ombudsman Scheme Inc. 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.
Spratt Financial Services 2004 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. Summarised, they are:
- Take reasonable steps to ensure that you understand the nature and scope of the advice being provided, including any limitations about that. For example, we must explain if you’re only able to give advice about certain products.
- Where there’s a conflict of interest we must give priority to your client’s interests.
- At all times exercise care, diligence, and skill.
- Comply with the new Code of Professional Conduct for financial advice services including competence, knowledge and skill requirements as well as requirements for ethical behaviour, conduct and client care.
- Only recommend financial products to you that are offered in compliance with the FMC Act and its regulations.
- Ensure we follow the new disclosure regulations and that any information we make available to clients is not false, misleading, or incomplete. As a financial advice provider, we must also:
- Make sure anyone we engage to give advice under your licence complies with all the duties listed above.
- Have appropriate processes and controls in place when we engage nominated representatives. These should allow us to control the advice being given and the circumstances in which it is given.