As of 15th March 2021
It is a requirement under the Financial Markets Conduct Act 2013 we show you this disclosure statement.
Contents of this disclosure statement
- Licensing information
- Nature and scope of the advice
- Fees or expenses
- Conflict of interest and incentives
- Duties of care information
- Complaints handling and dispute resolution
- Reliability history
- Availability of information
Duncan Wait is a Financial Adviser FSP217366 and director of Standalone Insurance Limited FSP716072, a Licensed Financial Advice Provider, trading as Standalone Insurance.
Standalone Insurance Limited (FSP716072) holds the Financial Advice Provider licence issued by the Financial Markets Authority to provide Financial Advice.
Nature and scope of the advice
Duncan Wait advises managing the risk of what will happen if you’re unwell and unable to work for some time or die prematurely.
Standalone Insurance holds agency agreements with the following insurance providers.
- Asteron Life
- Fidelity Life
- Partners Life
In providing you with advice, we will only consider current market, term life, trauma, income and health insurance type policies.
Fees or expenses
Standalone Insurance does not charge fees, expenses, or any other amount for its client’s financial advice.
Conflicts of interest, commissions and incentives
Standalone Insurance and our financial advisers receive commissions from the providers on the implementation whose products we give financial advice calculated as a percentage of the premium amount. 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. Standalone Insurance and their advisors prioritise your interests above their own. We follow an advice process to ensure our recommendations reflect our client’s goals and circumstances. All our financial advisers undergo annual training about how to manage conflicts of interest and create customer-focused outcomes. We maintain registers of conflicts of interest and the gifts and incentives we may receive.
Duties of care information
Standalone Insurance and our financial advisers have duties under the Financial Markets Conduct Act 2013. We must prioritise our interests by taking all reasonable steps to make sure our interests don’t materially influence our direction. Exercise 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 Services. Meet standards of ethical behaviour, conduct and client care established by the Code of Professional Conduct for Financial Advice Services. More information is available by visiting the Financial Markets Authority website at https://www.fma.govt.nz.
Complaints handling and dispute resolution
Even with the best of intentions, complaints sometimes arise. Standalone Insurance is committed to ensuring that all client complaints are handled and resolved in a professional, fair and timely manner in accordance with our Client Complaints Policy and associated procedures.
If you are not satisfied with our financial advice service, you can make a complaint by emailing email@example.com, or by calling: 021 0242 3020. When we receive an objection, we will consider it 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 ten working days of receiving them. If we can’t, we will contact you at 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.
Supposing we can’t resolve your complaint or are not satisfied with the way we suggest doing so?
You can contact The Insurance and Savings Ombudsman’s Dispute Resolution Scheme. This service will cost you nothing and will help us resolve any disagreements.
Insurance and Savings Ombudsman’s Dispute Resolution Scheme PO Box 10845 Wellington 6143 Phone 0800 888 202 www.iombudsman.org.nz
Neither Standalone Insurance Limited nor any of its advisors have been subject to a reliability event.
Availability of information
The information I have discussed with you is available in writing. Please let me know if you wish to have a written copy.
Duncan Wait Financial Advisor & Standalone Insurance Limited, trading as Standalone Insurance. Phone: 0210 242 3020. Email: firstname.lastname@example.org. Office: Level 2, 20 Don Street Invercargill.