1. Licence status and conditions
Legal Wording…
Licence Status
Apex Advice Group Limited (FSP44869) holds a full licence issued by the Financial Markets Authority (FMA) to provide Financial Advice.
In turn a number of associated companies (Authorised Bodies) work with us under our transitional licence.
Licence Conditions
AAG FAP is subject to conditions contained in the Act, imposed by regulations, and imposed by the FMA under section 403 of the Act.
To date AAG is subject to Standard Conditions.
…In Simple English
We play by the rules and only work with those that, we believe, play by the rules.
2. Nature and scope of financial advice service
Legal Wording…
AAG and its Authorised Bodies provide the following types of financial advice:
- Life & Health Insurance
- Mortgage
- Investments
Please note that neither AAG nor any of its Authorised Bodies are legal or taxation experts.
If you have a concern in these areas, we strongly recommend you seek professional advice from a tax or legal specialist.
…In Simple English
We work with a select group of providers that we believe align with AAG’s values and have our customers’ best interest at heart.
These providers help us give you the best options we can in the following areas:
- Life & Health Insurance
- Mortgage
- Investments
We are not tax nor legal specialists.
3. Fees, expenses, or other amounts payable
Legal Wording…
As a rule of thumb at AAG we do not charge our customers for the advice we provide (the product provider normally pays for it).
However, if you have to pay or might have to pay for taking our advice or acting on our advice the following may apply (please check with your adviser for more details):
Overall, the following may apply by advice type depending on your circumstances:
- Taking on life & health insurance advice
- Hourly fees
- Taking on investment advice
- Implementation fees
- Ongoing fees
- Taking on mortgage advice
…In Simple English
As a rule of thumb at AAG we do not charge our customers for the advice we provide (the product provider normally pays for it).
However, if you are to be charged anything at all, we will tell you BEFORE giving you advice.
In this way we help you avoid surprises.
4. Conflicts of interest and commissions or other incentives
Legal Wording…
AAG receives commissions from the insurance, investments, and mortgages we service and/or place.
If you further decide to act on our advice the product provider might recognize further commissions to AAG.
Note that all commissions and incentives are addressed to AAG and not the adviser individually. In this way we distance our advisers from potential conflicts of interest.
Furthermore, our internal processes place emphasis on identifying how the solution advised meets the customer’s needs and expectations.
In case we identify, or you identify a conflict of interest we will discuss it and document it on your Statement of Advice so you can make an informed decision about our advice.
…In Simple English
To ensure that we keep your interest above our own, our processes have been designed to highlight your needs and expectations.
Then we deliver on them and confirm this with you!
For peace of mind in case of a conflict of interest this will be made known to you in our report.
5. Complaints process
Legal Wording…
If you have a problem, concern, or complaint about any part of our service, please inform your adviser so we can try to address it.
If we cannot agree on how to address the situation, you can use our internal complaints process or contact our Ombudsman Scheme.
Click here for a description of our internal complaints process
…In Simple English
Please talk to us first. There is a good chance we can address your concerns.
Another way is to let us know your circumstance by contacting our offices.
6. Dispute resolution process
Legal Wording…
If, after going through our complaints process you still feel the resolution was not to your satisfaction you can always contact our Ombudsman.
The Ombudsman is an independent entity from AAG dedicated to look into situations like these.
…In Simple English
Not happy with our internal complaints process?
Please contact our Ombudsman for further assistance.
7. Our Advisers
Legal Wording…
AAG and anyone that gives financial advice on our behalf must meet several duties relating to the way we give advice.
Basically we:
- Must have the relevant education
- Must attempt to help you understand the advice received and its limitations
- Must give priority to your advice needs and interests
- Exercise care on everything we do
- Meet the industry code of conduct
You can find more information about the industry’s code here
…In Simple English
At AAG our advisers adhere to several duties to ensure we have the best chance of getting you the best outcomes we can for you.
8. Need to update or cancel your policy?
If you would like to make changes to or cancel your policy, please either:
- Email us with details on service@apexgroup.co.nz
- If you prefer to talk, call us on 0800 809 009
- Send us a message via our online contact us form
We can process your request as soon as we’ve heard from you