NZ Financial Services Group (FSP286965) holds a licence issued by the Financial Markets Authority (FMA) to provide financial advice. Wellington Life Insurance Brokers Limited (FSP731931) is authorised by that licence to provide financial advice. The only financial adviser within Wellington Life insurance Brokers Ltd is Phil Congreve (FSP 56261).
Wellington Life Insurance Brokers Limited provides advice to our clients about their life, health and disability insurances. We also provide financial advice on insurances for business owners.
We are able to provide financial advice from the following product providers:
Life and disability insurance | AIA, Asteron, Cigna, Fidelity Life, Partners |
Health Insurance | AIA, Cigna, NIB, Southern Cross |
Wellington Life Insurance Brokers Limited 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. We are required to:
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.
The Code of Conduct standards can be read here: https://www.fma.govt.nz/assets/assets/code-of- professional-conduct-for-financial-advice-services.pdf.
For life, health and disability insurance, Wellington Life Insurance Brokers Limited and the financial adviser receive commissions from the insurance companies on whose policies we give advice. If you decide to take out insurance, the insurer will pay a commission to Wellington Life Insurance Brokers Limited and your financial adviser. The amount of the commission is based on the amount of the premium.
The commission is between 30% and 200% of the first year’s premiums of your policy. The amount depends on which insurance company and which insurance policy you choose. Wellington Life Insurance Brokers Limited also receive a commission of between 5% and 17% of the premium for each year the policy remains in force.
Commissions paid to the business cover usual business outgoings and only a portion is paid to the adviser as part of their remuneration/salary.
To ensure that our financial advisers prioritise the client’s interest 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 manage conflicts of interest.
We also undertake a compliance audit, and a review of our compliance programme annually by a reputable compliance consultancy firm.
If you have a problem, concern, or complaint about any part of the financial advice you have received from us, you may contact us using any of the following means: in writing, by telephone or by email.
Here are our contact details.
Company Name | Wellington Life Insurance Brokers Limited |
Attention | The Complaints Officer |
Address | P O Box 48250, Silverstream, 5142, Upper Hutt |
Telephone | 027 487 4719 |
Email address | phil@wlib.co.nz |
Website | https://wellingtonlifeinsurancebrokers.co.nz/ |
When we receive a complaint, we will consider it following our internal complaints process:
If our internal complaints process does not resolve your complaint to your satisfaction, you can contact our external independent dispute resolution scheme. This service is free and may help investigate or resolve the complaint.
We are a member of the Financial Services Complaints Limited’s approved dispute resolution scheme. You can contact the Financial Services Complaints Limited at:
Company Name |
Financial Services Complaints Limited |
Address | Level 4, Sybase House, 101 Lambton Quay, Wellington 6011 |
Postal Address | P O Box 5967, Wellington 6140 |
Telephone | 0800 347 257 (freephone if within New Zealand) or +64 4 472 3725 (if calling outside New Zealand) |
Email address | complaints@fscl.org.nz |
Website | http://www.fscl.org.nz/ |
Wellington Life Insurance Brokers Limited (FSP731931) is the Licensed Financial Advice Provider.
You can contact us at:
Phil Congreve, Financial Adviser
Wellington Life Insurance Brokers Limited
P O Box 48250, Silverstream, 5142, Upper Hutt
Phone 027 487 4719
Please let us know if you would like a copy of this information.