I am a financial adviser and provide advice on behalf of Ellis Ross Limited, FSP768892.
Ellis Ross Ltd is licensed as a Financial Advice Provider by the Financial Markets Authority. Both Ellis Ross Ltd and I are registered on the financial services provider registry which can be viewed here.
I have been in the industry for 20 years and am currently enrolled in the NZ Certificate in Financial Services, Level 5. I am a foundation member in good standing of Financial Advice New Zealand (FANZ).
I WORK FOR YOU
As a Financial Adviser, it is my duty to abide by the Code of Conduct for Financial Service Providers. Although I am paid by the providers for the services I provide, it is you that I work for.
To ensure I put your interests ahead of my own, I follow a 6-step advice process when providing personalised financial advice which is based on your individual goals and needs:
- Getting to know you, your situation, your financial goals and objectives
- Gathering relevant data on your current situation
- Analysing data and assessing viable solutions
- Providing recommendations
- Implementing recommendations
- Ongoing review where relevant, staying on track
I provide all my recommendations in writing so that you have the opportunity to ask any questions you might have before implementing any of my advice.
If you are unhappy with any aspect of my service, we have an internal complaints process that can be viewed on our website: www.ellisross.co.nz/complaints
SCOPE OF SERVICE
Personal RiskI provide personalised advice that takes into account your individual circumstances to determine the personal risk products that best meet your personal goals and needs.
My advice is limited to the following insurance products:
- Mortgage Repayment
- Income Protection
- Total and Permanent Disability
- Waiver of Premium
My advice is also limited to products provided by the following companies:
- Southern Cross
- Fidelity Life
- Partners Life
While I don’t provide general insurance services as part of my product offering, I am able to refer you to Tower Insurance. If you take out a policy with Tower on the back of my referral, Ellis Ross Ltd will receive a referral commission that will range from 4% to 8% of your premium.
While I don’t provide home loan services as part of my product offering, I am able to refer you to Home Loan specialists Advice HQ. If you settle a home loan on the back of my referral, Ellis Ross Ltd will receive a referral commission equal to 20 basis points.
FEES AND COMMISSIONS
To ensure that advice remains accessible, Ellis Ross Ltd does not charge an upfront fee for providing personal risk insurance advice or for implementing advice if you decide to proceed.
In place of an upfront fee, Ellis Ross Ltd is paid a commission by the recommended insurance provider from the premium they charge you for your cover. This commission will range from 10% to 230% of the first years premium, depending on which insurance company you take out cover with.
Ellis Ross Ltd will then receive a servicing commission between 2.5% to 13.5% of the annual premium for the Iife of the policy. I will confirm the amount of commission Ellis Ross Ltd will receive when I provide my recommendation to you.
CONFLICTS OF INTEREST
Commission is considered a conflict of interest. See above for details under the heading “Fees and Commissions”. Ellis Ross Ltd and its advisers may from time to time be offered coffee or lunch invitations, stationery, invitations to conferences or sporting events from product suppliers. Help with product accreditation may also be offered. We take any perceived or real conflicts of interest seriously and have a policy for dealing with these by avoiding and managing these conflicts so that our client’s interests are placed first and foremost.
COMPLAINTS AND DISPUTES
Internal Complaints Process
If you have a problem, concern or complaint about any part of our advice or service, please tell us so that we can try to fix the problem. Our internal complaints manager is Penny who can be reached via email at firstname.lastname@example.org or 0800 33 22 34. Penny will reply to you within 24 hours.
The internal complaints process is:
- We will review the complaint and discuss with you how we will resolve this and obtain any additional information if required.
- We aim to resolve complaints in a timely manner and will indicate to you the time this complaint may take to resolve.
- We will communicate with you in the method you prefer — phone, email or written.
If we cannot resolve this complaint in a manner that is acceptable then you can contact our free independent resolution service (see below).
External Complaints Process
If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints process, you can contact our external disputes resolution service — The Insurance and Financial Services Ombudsman Scheme. This service will cost you nothing and will help us to resolve any disagreements.
You can contact The Insurance and Financial Services Ombudsman Scheme at:
PO Box 10-845, Wellington 6143, NZ
0800 888 202
DUTIES AND OBLIGATIONS
I have duties under the Financial Markets Conducts Act 2013 relating to the way that I give advice. I am required to:
- give priority to your interests by taking all reasonable steps to make sure my advice is not materially influenced by my own interests
exercise care, diligence and skill in providing you with advice
- meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Service
- meet standards of ethical behaviour, conduct and care set by the Code of Professional Conduct for Financial Advice Services
This is only a summary of the duties that I have. More information is available by contacting me, or by visiting the Financial Markets Authority website at: https://www.fma.govt.nz
PRIVACY AND DATA
When a client uses our services, they are trusting Ellis Ross Ltd with their personal and financial information. We understand this is a big responsibility and work hard to protect their information as per the Privacy Act 1993.
We need to collect your personal information for the purpose of:
- Providing advice and determine appropriate solutions for your needs
- Maintaining relevant records and advice reports
In providing our adviser services to you, you consent and give authority for us to obtain your personal information from or disclose your information to, the following parties:
- the Regulator and external compliance advisers/personnel or any service provider when implementing any of our recommendations or variations thereof and supplying products to you;
- product providers whom we have an agreement with, insurance companies, any claims investigators and claims assessors, ACC, financial institutions and any other persons or agencies deemed relevant;
- other professionals such as solicitors, accountants, and financial planners when such services are required to complement this advice, and as requested by you; any other individual or organisation where disclosure is required by law.
In providing adviser services to you, you consent to your information being used by Ellis Ross Ltd staff and administrators, product providers with whom we have an agreement, reinsurers and other companies for the purposes for which your information was collected.
Under the Privacy Act 1993, you have the right to access and correct the information that Discovery Financial Services holds about you. We will rely on you to keep us informed of any changes to all of your contact details and any other personal information.
If you wish to obtain access to or correct the information we hold about you, please contact us at email@example.com.