Licensing Information

Insurance Works Ltd FSP14842 holds a Class 2 Financial Advice Provider (FAP) license issued by the Financial Markets Authority to provide financial advice.

Yvonne Procter is a financial adviser FSP148824 and manages the licensed financial advisory business Insurance Works Ltd.
Yvonne gives advice on medical, income protection, mortgage payment, trauma, TPD, life insurance, Share Purchase and Key Person Insurance.

Rod Kelk is a financial adviser FSP69861 and Rod is employed by Insurance Works Ltd. Rod gives advice on medical, income protection, mortgage payment, trauma, TPD, life insurance, share purchase and key person Insurance.

Disciplinary History

There have been no Professional Indemnity insurance or negligence claims, disputes resolution actions or disciplinary actions against us.

Nature and Scope of the advice

Insurance Works Ltd provides advice to our clients about, Medical, Income Protection, Mortgage Payment, Trauma, Total and Permanent Disablement, Life insurance, Share Purchase and Key Person Insurance.

We provide financial advice about insurance products from certain providers

• For medical insurance we work with 5 providers: Accuro, AIA, NIB, PartnersLife and Southern Cross

• For Income Protection, Mortgage Payment, Trauma, Total and Permanent Disablement, Life insurance, Share Purchase and Key Person Insurance we work with 5 providers. AIA, Asteron, Chubb, FidelityLife and PartnersLife

 

Fees

Insurance Works Ltd does not charge fees, expenses or any other amount for the financial advice provided to our clients.

Commission

Insurance Works Ltd receives commission from product providers on the placement of insurance cover. The amount of commission paid varies between product providers and is based on the product sold. The commission payment includes initial and bonus commission and a service commission.

Conflicts of Interest and Incentives

For medical, income protection, mortgage payment, trauma, total and permanent disablement, and life insurance, Insurance Works Ltd receives all the commission generated by our advisers, that is paid from the insurance companies we give advice on. If you decide to take out insurance, the insurer will pay a commission to Insurance Works Ltd. The amount of commission paid is based on a percentage of your annual premium.

To ensure that our financial advisers prioritise our client’s interest above their own, we follow an advice process that ensures our recommendations are made based on our client’s goals and circumstances.
Our financial advisers undergo annual training on how to manage conflicts of interest.

Insurance Works Ltd maintains a register for conflicts of interest, gifts and incentives received.

We undertake a compliance audit and a review of our compliance program annually by a reputable compliance adviser. In conducting an audit of Insurance Works the compliance officer might review your file. The FMA will also conduct compliance audits and require access to your file.

 

Licensed Financial Advice Provider Requirements

Duties Information

Insurance Works Ltd and anyone who gives financial advice on our behalf have duties under the Financial Markets Conduct Act 2013 relating to the way we give advice.

We are required to,

Give Priority to your interests by taking all reasonable steps to make sure our advice is not materially influenced by our own interests.

Excercise 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 and Services, these are designed to make sure that we have the expertise needed to provide you with capable advice.

Meet the 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 in accordance with our obligations in giving 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

 

Complaints Handling and Dispute Resolution

If you are not satisfied with our financial advice service you can make a complaint by, emailing [email protected] or by phoning 0800 444388.

You can also write to us at,

P O Box 44266, Pt Chevalier, Auckland 1246.

When we receive a complaint, we will consider it by 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 cannot, 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 proposed to do so.

If we cannot resolve your complaint or you are not satisfied with the way we propose to do so, you can contact Financial Disputes Resolution Service.

Financial Disputes Resolution Service provides a free, independent disputes resolution service that may help investigate or resolve your complaint if we have not been able to resolve your complaint to your satisfaction.

You can contact Financial Disputes Resolution Service by emailing [email protected] or by phoning 0508 337 337 or you can also write to them at P O Box 2272, Wellington 6140.

Contact Details

Insurance Works Ltd FSP14842 is the financial advice provider.

You can contact us at

Phone: 0800 444388 or 021 289 7887

Email: [email protected]

Address: P O Box 44266, Pt Chevalier Auckland 1246