Public Disclosure
INTRODUCTION
Policywise Limited (FSP715811, trading as Policywise) holds a licence issued by the Financial Markets Authority to provide financial advice services.
REGISTRATION AND CONTACT INFORMATION
NATURE AND SCOPE OF THE ADVICE
Policywise provides advice to our clients about their Health Insurance, Life insurance and Disability Insurance.
Our financial advisers provide financial advice in relation to Health Insurance, Life insurance and Disability Insurance.
We only provide financial advice about products from certain providers, these are as follows:
| Accuro | Health Cover |
| AIA | Health, Life and all Disability Covers |
| Asteron Life | Life and all Disability Covers |
| Chubb | Life and all Disability Covers |
| Fidelity Life | Life and all Disability Covers |
| Nib | Health, Disability Cover |
| Partners Life | Health, Life and all Disability Covers |
| Southern Cross | Health, Disability Cover |
FEES OR EXPENSES
For Life, Disability and Health insurance, Policywise and the financial adviser receive a fee which is a financial remuneration based on the percentage of the amount of premium from the insurance companies on whose policies we give advice. If you decide to take out insurance, the insurer will pay a fee to Policywise.
In line with the spirit of professional disclosure below are some guidelines of how we are paid.
| Type | Range |
| Upfront (upon implementation) | 10%-230% first year’s premium |
| Ongoing | 5-25% subsequent year premium |
DEALER GROUPS
Policywise is part of Plus4 Group, remuneration can flow to Policywise from product providers via the Plus 4 Group, this is based on production of the group as a whole and Policywise. The Business can also receive other professional services or benefits (related to being a Financial Advice Provider) from the Plus4 group which help with their operation, training and compliance.
CONFLICTS OF INTEREST
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 goals and circumstances. All 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 professional compliance adviser.
DUTIES INFORMATION
Policywise and anyone who gives financial advice on our 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 interests 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.
COMPLAINTS PROCESS
For information on our complaints process and dispute resolution scheme, see Complaint Disclosure.