Disclosures
Identifying Information
Financial adviser: Brady James Arblaster FSP 34442
Trading name: Insure Ability
Address: Postal: PO Box 65 424, Mairangi Bay, Auckland 0754
Physical: Unit I1, 4 Antares Place, Rosedale, Auckland 0632
Phone number: 09 390 0044
Email address: brady@insureability.co.nz
Registration Details: You can check that I am a registered financial services provider at http://www.fspr.govt.nz
Fees
There is no cost to you for my fact finding about your situation, analysis of your needs and this Personalised Insurance Advice recommendation. If you become my client there is also no cost to you for my management of your policies, conducting of reviews and overseeing any claims you make. My time is remunerated via commissions paid by the insurance provider chosen.
A fee of $350 +GST for providing a recommendation regarding ACC Cover Plus will be charged if there is no additional insurance advice/implementation required.
Conflicts of Interest and Incentives
I receive commissions from the relevant insurance companies if you take out insurance following my advice.
The below data confirms the different commission structures available from each insurance provider based on annual premiums (AP).
I focus on using commission structures that are more sustainable long term (highlighted with an asterisk), enabling me to actively review my clients insurance advice plan regularly and manage any claims on their behalf.
Your specific commission rates are listed in your Personalised Insurance Advice report. If there is a reason to use a different payment structure for your insurance needs I will advise you in that report.
AIA New Zealand Option A
Initial Commission 200% of AP
Renewal Commission 5% of AP
*AIA New Zealand Option B
Initial Commission 140% of AP
Renewal Commission 20% of AP
Asteron Life Option A
Initial Commission 229%
Renewal Commission 10%
*Asteron Life Option B
Initial Commission 180%
Renewal Commission 20%
*Asteron Life Option C
Initial Commission 110%
Renewal Commission 30%
Chubb Life Option A
Initial Commission 220%
Renewal Commission 7.5%
*Chubb Life Option B
Initial Commission 190%
Renewal Commission 15%
*Chubb Life Option C
Initial Commission 160%
Renewal Commission 20%
*Chubb Life Option D
Initial Commission 90%
Renewal Commission 30%
Fidelity Life Option A
Initial Commission 240%
Renewal Commission 10%
*Fidelity Life Option B
Initial Commission 180%
Renewal Commission 20%
NIB Option A
Initial Commission 140%
Renewal Commission 5%
*NIB Option B
Initial Commission 87%
Renewal Commission 17%
*NIB Option C
Initial Commission 35%
Renewal Commission 25%
Partners Life Option A
Initial Commission 230%
Renewal Commission 10%
*Partners Life Option B
Initial Commission 205%
Renewal Commission 15%
*Partners Life Option C
Initial Commission 155%
Renewal Commission 25%
*Southern Cross Option A
Initial Commission 30%
Renewal Commission $184.24pa per person
*ACC
Initial Commission Nil
Renewal Commission Nil
N.B. These figures are subject to change and were last updated 07/05/2024.
If your policy is cancelled within two years, a portion of this commission will have to be returned to the relevant insurance provider from Financial Tactics Limited trading as Insure Ability.
Additionally, if I refer you to a fire and general specialist (Insurance Design) and you go ahead with their recommendation I will receive a referral fee from them of up to 25% of the commission they earn on your policy premium.
To ensure that I prioritise your interests above my own, I follow an advice process that ensures my recommendations are made on the basis of your individual goals and circumstances.
We undertake a compliance audit and a review of our compliance programme annually. I also complete an Ethics in Financial Services course every three years about how to manage conflicts of interest.
Complaints Handling
If you are not satisfied with our service we will do our best to put things right. You can make a complaint by emailing hello@insureability.co.nz or by calling 09 390 0044. You can also write to us at PO Box 65 424, Mairangi Bay, Auckland 0754
When we receive a complaint, we will set in motion 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.
If we can’t resolve your complaint or if you aren’t satisfied with the way we propose to do so, you can contact Financial Services Complaints Ltd (FSCL) - A Financial Ombudsman Service.
FSCL provides a free independent dispute resolution service that may help investigate or resolve your complaint.
You can contact FSCL at—
Address: PO Box 5967, Lambton Quay, Wellington 6145
Telephone number: 0800 347 257
Email address: info@fscl.org.nz
Duties Information
Insure Ability, and anyone authorised by us to give insurance advice on our behalf, has 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 isn’t materially influenced by our own interests
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 (these are designed to make sure that we have the expertise needed to provide you with advice)
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 www.fma.govt.nz
Private and Secure Information
You can view our Privacy Policy here
Availability of Information
You can have a copy of this information in hard copy or electronic copy as needed. Please email hello@insureability.co.nz