LICENCE

1.Licence status and conditions

Legal Wording…

Licence Status

Apex Advice Group Limited (FSP44869) holds a transitional 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.

Associated Companies (Authorised Bodies)

The following companies are authorised under AAG FAP Licence to provide financial advice:

• APEX WAIKATO LIMITED – FSP422686

• APEX INSURANCE BROKERS LIMITED – FSP311286

• APEX TAURANGA LIMITED – FSP488386

• APEX RISK MANAGEMENT LIMITED – FSP653511

• APEX CHRISTCHURCH LIMITED – FSP631669

• APEX MORTGAGE SERVICES LIMITED – FSP643270

• CWCB & CO LIMITED – FSP748251

• PREMIER LIFE BROKERS LIMITED – FSP577447

• APEX FINANCIAL GROUP HB LIMITED – FSP754591

• KMAR HOLDINGS LIMITED – FSP750892

Licence Conditions

AAG transitional FAP licence 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
Click here for a list of the product providers we engage with by type of financial advice.

Life & Health Insurance:

AIA | NIB | AMP | Cigna | Asteron | Partners Life | Fidelity | Southern Cross

Mortgage:

AIA | BNZ | NZCU Baywide | Westpac | ANZ | Co-Operative Bank | Resimac | ASB | Cressida | SBS | Avanti Finance | Liberty Financial | TSB |

Investments:

AIA | Synergy | Consilium | iSelect | Select Wealth Management | ANZ OneAnswer | Generate | AON | Milford Asset Management | Booster | One Answer | Fisher Funds |

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

1.You may contact us with your complaint by calling us on 021 146 4744​ or email us at SHAUNB@APEXGROUP.CO.NZ

2.We will assign a staff member internally to address your situation.

  • We’ll confirm the facts with you (or call you if you emailed us).
  • We confirm what the solution looks like to you.
  • We acknowledge the complaint.
  • We discuss timelines depending on your circumstances and the nature of the complaint.

3.We establish potential solutions and/or confirm the implications with you.

4.We attempt to solve the situation.

5.We make a final decision and communicate to you the outcome.

…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.

Click here for details on our Ombudsman

This service will cost you nothing and will help us resolve any disagreements. You can contact Insurance & Financial Services Ombudsman Scheme Inc at:

Address: 

Insurance & Financial Services Ombudsman Scheme Inc
PO Box 10-845 – Wellington 6143

Telephone number: +64 (04) 499 7612

Free phone: 0800 888 202

Email address: info@ifso.nz

…In Simple English

Not happy with our internal complaints process?

Please contact our Ombudsman for further assistance.

 

7. Duties information

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.

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