Disclosure Statement
Important information about BRC Advice.
Licensing information, advice scope, provider panel, remuneration, conflicts of interest, complaints, and duties owed to clients.
Licensing information, advice scope, provider panel, remuneration, conflicts of interest, complaints, and duties owed to clients.
BRC Advice Limited (FSP1007966) holds a Financial Advice Provider licence issued by the Financial Markets Authority (FMA) to provide financial advice services.
BRC Advice Limited is registered on the Financial Service Providers Register and is authorised to provide financial advice under its Financial Advice Provider licence.
At BRC Advice, we help individuals, families, business owners and employers make informed decisions about protecting themselves against the financial consequences of death, illness, disability, injury, loss of income and business disruption.
While we may receive remuneration from insurance providers when insurance policies are implemented, it is our clients that we work for.
Our advice process is designed to ensure that recommendations are based on your individual objectives, needs and circumstances.
We provide personalised advice and recommendations in writing, giving you the opportunity to consider our recommendations and ask questions before making any decisions.
BRC Advice provides financial advice on personal and business risk insurance.
We provide advice relating to:
When providing advice, we will consider your individual circumstances, needs, objectives and existing insurance arrangements before making recommendations.
We do not provide advice on investment products, KiwiSaver, mortgages, general insurance, whole-of-life policies or endowment policies unless specifically agreed and disclosed.
To ensure we can provide suitable recommendations, we work with a panel of selected insurance providers.
We may also provide advice on existing policies held with other insurers where appropriate.
To assist in comparing products and identifying suitable solutions, we utilise independent research supplied by Quality Product Research Limited (QPR).
In most cases, BRC Advice does not charge clients a fee for providing insurance advice.
Our remuneration is generally paid by insurance providers when clients implement insurance policies recommended by us.
Initial commissions typically range between 23% and 240% of the first year's premium depending on the insurer and product selected.
Ongoing servicing commissions generally range between 7.5% and 30% of annual premiums while policies remain in force.
Where a client fee may apply, this will be disclosed and agreed with you in writing before any charge is incurred.
Further details regarding remuneration relevant to your recommendation will be provided during the advice process.
BRC Advice receives commissions from insurance providers when insurance policies are implemented. This creates a potential conflict of interest.
To ensure our advisers prioritise clients' interests above their own, we maintain policies, procedures and controls designed to identify, monitor and manage conflicts of interest.
These include:
BRC Advice may refer clients to third-party providers where services fall outside our scope of advice.
This may include referrals for:
Where BRC Advice receives a referral payment or referral commission from a third party, this will be disclosed to you.
If you are not satisfied with our financial advice service, we encourage you to contact us as soon as possible.
Email: enquiries@brcadvice.co.nz
Postal Address:
BRC Advice Limited
PO Box 401123
Mangawhai Heads
Mangawhai 0540
When we receive a complaint, we will:
We aim to resolve complaints within 10 business days wherever reasonably possible.
If we cannot resolve your complaint, or you are not satisfied with the outcome of our internal complaints process, you may refer your complaint to our independent dispute resolution provider.
Financial Dispute Resolution Service (FDRS)
Address: Freepost 231075, PO Box 2272, Wellington 6140
Phone: 0508 337 337
Email: enquiries@fdrs.org.nz
Website: www.fdrs.org.nz
FDRS provides a free and independent dispute resolution service for consumers.
BRC Advice Limited and anyone who provides financial advice on its behalf have duties under the Financial Markets Conduct Act 2013 and the Code of Professional Conduct for Financial Advice Services.
We are required to:
These obligations are designed to ensure that we treat clients fairly and provide suitable advice.
Further information regarding these duties is available from the Financial Markets Authority: www.fma.govt.nz
If you would like further information regarding our financial advice services, insurer panel, remuneration arrangements, disclosure obligations or complaints process, please contact us.
This information is available free of charge and in writing upon request.
BRC Advice Limited (FSP1007966)
Financial Advice Provider Licence issued by the Financial Markets Authority.
Member of the Financial Dispute Resolution Service (FDRS).