ABOUT OUR BUSINESS

The purpose of providing this information to you is to help you understand the services our business can provide to you so that you can determine if our business can assist you to meet your needs.

It will also provide you with information about the financial adviser/s who give the financial advice.

Licensing Information

Logan Smythe & Associates Limited (LSA) holds a license issued by the Financial Markets Authority (FMA) to provide financial advice services. The company’s Financial Services Provider license number is FSP 465726.

Nature and Scope of our Financial Advice Services

The Financial Advice Services we are licensed to provide advice to clients are:

  • Personal Insurance
  • Business Insurance
  • Agribusiness Insurance
  • Employee Benefits

The Products that we can advise on are:

  • Personal Insurance including Life Cover, Serious Disability, Income Protection, Trauma Cover, Health and Medical, Mortgage Protection
  • Shareholder Pay-out cover, Key Person cover, Business Expenses, Business debt cover and ACC
  • Agribusiness

The products providers we can recommend are:

  • Partners Life Limited
  • AIA
  • Asteron Life
  • Cigna
  • Fidelity Life
  • NIB
  • Southern Cross
  • Accuro

OUR FEES AND COMMISSIONS

Commission Remuneration

If, through the advice service you received, insurance is implemented, Logan Smythe & Associates Limited may be paid commission by the insurance product provider.

The commission may be initial and ongoing. Initial commission is based on a percentage of the insurance premiums you pay and may be paid upfront as a lump sum.

Ongoing commission is based on a percentage of the insurance premium that is in force and is generally paid monthly.

Fees

Depending on the nature and scope of the service being provided, it may be agreed with you that a fee will be charged.

The fees may relate to initial advice or ongoing services that you require.

No fees will be charged to you without there being a fee engagement agreement in place first.

Costs will not be incurred for which you are liable to pay for the advice service without your agreement first.


CONFLICTS OF INTEREST AND INCENTIVES

When we arrange insurance for you, the providers pay us a commission. The amount of the commission varies between providers and products and is based on a percentage of the premium.

At times product providers assist us with funding for marketing and branding.

If a person or entity has referred you to us, we may pay them a percentage of the commission we receive for their referral.

We may have a conflict of interest in circumstances where financial advice has been given to two clients who later have a dispute. If this occurs the conflict of interest will be disclosed to you and you will be offered the option to be referred to another financial adviser for advice and assistance.

To ensure that our financial advisers prioritise your interests first, we follow an advice process that ensures our recommendations are made based on the information you have provided, your unique circumstances and your objectives.

Logan Smythe & Associates Ltd maintains a register of conflicts of interest, of gifts and any other incentives that have been received.

If we believe there is a conflict of interest – real or perceived – this will be discussed with you.


OUR DUTIES

Logan Smythe and any person giving advice on behalf of Logan Smythe are bound by duties under the Financial Markets Conduct Act.

We are required to:

  • Give priority to your interests by taking all reasonable steps to make sure our own interests don’t materially influence our advice;
  • Exercise care, diligence and skill in providing you with advice;
  • Meet standards of competence, knowledge, and skill as 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 behavior, 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 FMA website https://www.fma.govt.nz/compliance/licensed-providers


OUR COMPLAINTS HANDLING AND DISPUTES RESOLUTION PROCESS

If you have a problem, concern, or complaint about any part of my service, please tell us so that we can try to fix the problem. Our internal complaints manager is Dean Logan their contact details are complaints@logansmythe.co.nz or 021 369 601. We will always try to respond to your contact within 24 hours on business days.

If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact the Financial Services Complaints Limited.

This service will cost you nothing and will help us resolve any disagreements. You can contact the Financial Services Complaints Limited.

Address: PO Box 5967
Wellington
6140

Telephone: Freephone 0800 347 257

Email address: complaints@fscl.org.nz

Website: www.fscl.org.nz

See our Complaints Process