Disclosure

Disclosure information

Licensing information

BRC Advice Limited (FSP1007966) holds a license issued by the Financial Markets Authority to provide financial advice.

 

Nature and scope of advice

BRC Advice Limited provides advice services to our clients about their life insurance, trauma, income and mortgage protection, total & permanent disability, and health insurance.

Our financial advisers provide insurance advice only.

We only provide insurance advice about products from certain providers.  For new life insurance policies, we work with five companies: AIA, Partners Life, Asteron, Chubb & Fidelity. For health insurance, we work with three companies: AIA, Nib & Partners Life

In addition to the above, we can also provide advice on historic life insurance policies in place with Resolution Life but are unable to transact any new policies.

We utilise independent research provided by Quality Product Research Limited. This research classifies and ranks products by provider highlighting product differences and ratings and allows us to ensure the product mix we recommend is fit for purpose.

In providing you with financial advice, we will only consider existing term life, trauma, income & mortgage protection, total & permanent disability and health insurance policies (if any). We will not provide advice on existing whole of life or endowment products; you will need to consult a specialist if you would like advice on those products.

 

Conflicts of interest

For life insurance and health insurance, BRC Advice receives commissions from the insurance companies on whose policies we give advice. If you decide to take out insurance, the insurer will pay a commission to BRC Advice and your financial adviser. The amount of the commission is based on the amount of the premium.

To ensure that our financial advisers prioritise the client’s interests above their own, we follow an advice process that ensures our recommendations are made on the basis of the client’s needs and circumstances. Our financial advisers undergo annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme annually by a reputable compliance adviser.

Complaints handling and dispute resolution

If you are not satisfied with our financial advice service you can make a complaint by emailing enquiries@brcadvice.co.nz. You can also write to us at: PO Box 401123 Mangawhai Heads, Mangawhai.

When we receive a complaint, we will consider it following our internal complaints review process:

  • We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint
  • We aim to resolve complaints within 10 business days of receiving them. If we can’t, we will contact you within that time to let you know we need more time to consider your complaint
  • We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so

If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact Insurance & Financial Services Ombudsman Scheme Inc. Level 2, Solnet House, 70 The Terrace, Wellington, 6143 or visit www.ifso.nz.

Insurance & Financial Services Ombudsman Scheme Inc. provides a free, independent dispute resolution service that may help investigate or resolve your complaint if we haven’t been able to resolve your complaint.

 

Duties information

BRC Advice and anyone who gives financial advice on their behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice:

We are required to:

  • Give priority to your interest by taking all reasonable steps to make sure our advice isn’t materially influenced by our 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 Services (these are designed to make sure that we have the expertise needed to provide you with advice)
  • Meet standards of ethical behaviour, 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 Financial Markets Authority website at www.fma.govt.nz 

This information is available in writing on request.

 

How long could you afford to live without your regular household income?
How long could you afford to live without your regular household income?

How long could you afford to live without your regular household income?

Life is full of the unexpected; accidents and illnesses are part of life - we can place a customised income protection policy which would replace your income in event that you are unable to work due to accident or illness.

How big is your 'Fighting Fund'?
How big is your 'Fighting Fund'?

How big is your 'Fighting Fund'?

When major health issues strike, we can't always control the treatment process or methods, but we can ensure we have ample funds to fund any available option - Talk to us today about how Critical Illness / Trauma Covers provide a financial safety net in event of Cancer, Stroke or Heart Attack.

Not all medical insurance is created equal..
Not all medical insurance is created equal..

Not all medical insurance is created equal..

In NZ we have a range of Health & Medical insurance providers, however its important to understand exactly what your policy covers - does it include non-PHARMAC drug treatments? Does it include Specialist Consultations? What level of cover does it provide? Talk to us about ensuring you have the right coverage when you need it.

Ensuring we don't leave our loved ones 'holding the bag'

Ensuring we don't leave our loved ones 'holding the bag'

Nobody wants to think about their mortality - but at some point, we all have to think about what we leave behind - make sure you don't leave your loved ones with large debts they can't afford.