FWGROUP LTD Disclosure Information
About FWGROUP LTD
FWGROUP LTD, [FSP 1001795] is a Financial Advice Provider that holds a licence issued by the Financial Markets Authority (FMA) to provide financial advice services.
You can find us listed on the Financial Service Providers Register at fsp-register.companiesoffice.govt.nz.
The conditions of our licence allow us to provide the following financial advice services:
- Personal Life Risk & Medical Insurance
- General Insurance
- Home lending
- Financial Planning
Financial Planning & Investments
We are able to provide a personalised financial planning service that takes into account your individual circumstances and financial situation to recommend a portfolio of investments that will help you reach your financial goals while taking into account your ability to and attitude toward taking on and financial risk.
We use a behavioural finance approach that focuses on your values priorities in order to shape strategies that help you realise your goals and objectives.
At FWG, we are able to provide either personalised or generalised advice about KiwiSaver.
Personalised advice will take into account your individual goals, needs and financial situation and recommend a particular KiwiSaver fund as part of your overall individual investment strategy.
Generalised advice is a non-personalised service where we can help you work out what your risk profile is when it comes to investing and recommend a KiwiSaver fund that matches your tolerance for financial risk.
Our KiwiSaver advice limited to the three providers we have chosen to work with.
Providers we work with
We have chosen to work with the following KiwiSaver providers when helping our clients:
Consilium / Synergy, Booster, NZFunds
How we are paid
We charge fees, which will be disclosed and agreed to before commencing any service. We may also be paid through the providers who may pay us an upfront fee and a small amount of ongoing commission based on funds under management.
Personal Life Risk & Medical Insurance
FWGROUP LTD provide personalised advice that takes into account your individual circumstances to determine the personal risk products that best meet your personal goals and needs.
We follow a documented advice process that uses your personal situation to work out what’s important to you, what products you need and how much cover you should have in place.
We then recommend the provider that offers the cover most suited to your stated preferences.
Providers we work with
FWGROUP LTD have chosen to work with the following personal risk insurers:
AIA Cigna Partners Asteron
Fidelity NIB Accuro Southern Cross
This means that FWGROUP LTD will only consider the providers listed above when recommending a product to meet your personal risk insurance needs.
How we are paid
FWGROUP LTD may charge an upfront fees for our risk advice services. However, we usually waive this fee, to ensure advice remains accessible, as we are paid commission by the provider of any product you put in place on the back of our recommendation.
General Insurance (Home, contents & car)
FWGROUP LTD works exclusively with Blanket insurance to provide house, car & contents insurance (underwritten by Ando Insurance) through their digital application process. They are the only general insurance product provider that I work with and in place of an upfront advice fee, I receive a commission based on the annual premium for any house, car or contents policy that you put in place through me.
How we are paid
In place of an upfront fee, FWGROUP LTD is paid a commission by the recommended insurance
provider from the premium you pay for any house, car or contents policy we put in place.
FWGROUP LTD works with referral partners, whilst we are developing solutions to provide this service directly in the near future.
How we are paid
We are paid a referral fee.
How we manage conflicts of interest and put your interest first
All of the services FWGROUP LTD offers are provided free of charge to our clients. This is because we are paid by the providers when one of their products is taken up on the back of our recommendation.
Although we are paid by the providers, we always put your interests first:
- We follow a proven 6-step advice process that puts our clients needs at the heart of the advice process
- We identify and disclose the maximum level of commission we may get on the back of our recommendation
- If our recommendation involves replacing cover, we will provide a comparison of covers and explain what the recommended provider offers that your existing cover does not. We will also let you know if there is anything your existing provider covers that the recommended provider will not.
- All our recommendations are provided in writing with an explanation as to how they are based on your individual needs
- FWGROUP LTD completes internal and external reviews of our advice process to ensure we follow a thorough review process that puts client interest first.
Under the Financial Markets Conduct Act 2013, it is the duty of FWGROUP LTD and our advisers to:
- meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services (Code of Conduct), which form part of the wider regulatory regime for financial advice and ensure we have the expertise necessary to provide you with advice; and
- give priority to your interests by taking all reasonable steps to ensure that the advice given to you is not materially influenced by our own interests or the interests of any other person connected with the giving of advice; and
- exercise care, diligence, and skill that a prudent person engaged in the occupation of giving related financial advice would in the same circumstances; and
- meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct, to treat you as we should and to provide you with suitable advice.
What if something goes wrong
We value the ability of our clients to provide feedback about the service they have received as well as the opportunity to put it right when they are unhappy with any aspect of our service.
If you would like to raise concerns about the service you have received, we have an internal complaint process that we will follow when we receive your formal complaint.
Our internal process involves:
- Requesting your complaint in writing
- Acknowledging the receipt of your complaint within 2 working days of receiving it.
- Investigating your concerns by speaking with all the involved parties and reviewing all the documentation we hold on file.
- Providing a formal written response within 28 days of acknowledging your concerns.
If you would like to make a complaint, please email: firstname.lastname@example.org
If you are unsatisfied with the outcome of our internal complaints process, you are able to escalate it to our dispute resolution scheme:
Scheme: Financial Dispute Resolution Scheme
Address: L 4, 142 Lambton Quay, Wellington 6011
Telephone number: 0508 337 337
Email address: email@example.com
They are an independent dispute resolution service provider that helps resolve complaints about financial service providers, free of charge.