(Disclosure Statement last edited 16/12/2021)

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IDENTIFYING INFORMATION: 

I am a Financial Adviser (FSP105946), and I am giving advice on behalf of Warren Butler Insurance Limited (FSP732631).   I give advice on personal and business life & health insurance, fire & general (domestic) insurance refer clients to KiwiSaver and Tower Insurance. My Financial Service Provider number is (FSP105946)

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My details are as follows:

Name:                Warren Butler

Phone:               021 104 6087

Address:            26 Raki Street, Pukekohe, 2340

Postal:                P O Box 906,   Pukekohe, 2340

Email:                 insurance@warrenbutler.nz

website:             www.warrenbutler.nz

 

NATURE AND SCOPE OF THE ADVICE:

I provide advice to our clients regarding their personal life insurance, business life insurance, personal health insurance, group medical insurance, general insurance, Travel insurance and KiwiSaver. I only provide financial advice using products from certain providers:

 

I am able to provide Personal Risk insurance from four product providers:

·Partners Life

·AIA

·Asteron Life

·Fidelity Life

 

Insurance Products that I can provide:

·Life Insurance

·Trauma Insurance

·Permanent Disability Insurance

·Income Protection Insurance

·Mortgage and Household expenses Insurance

·Health Insurance

·Key Man Insurance

 

Other services include: Commercial insurance, Liability cover and Contract works cover

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In providing you with financial advice for the above we will only consider existing term life, trauma, income protection and health insurance policies (if any). I will not provide advice on existing whole of life or endowment products, so you will need to consult a specialist if you would like advice on those products.

 

I am able to provide Personal Health insurance with three product providers:

· AIA

· Partners Life

· NIB

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I am are able to provide Health Insurance Group schemes for business with two product providers:

·NIB

·Partners Life

 

I am are able to provide KiwiSaver with one provide:

·Generate Wealth Kiwi Saver

 

I am are able to provide Fire & General (Domestic) Insurance, our services are limited to the following two providers:

·Stylecover, provided by a division of Aon (Aon New Zealand) Administration of this insurance and claims handling services are managed   by Stylecover.

·Tower Insurance, using a referral system.

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Fire & General product categories.

·House & Contents

·Vehicles

·Motorcycle

·Trailers and Pleasure Craft

·Travel Insurance

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How we work – Life Insurance

1.  Once we have agreed on areas of advice in relation to your insurance requirements, we can then 

     establish other terms of our engagement by presenting you with our Scope of Advice.

2.  By completing a Needs analysis and fact find we are able to identify your specific needs and objective

3.  Present my recommendations – Implement any agreed recommendations.

4.  I will then prepare a Statement of Advice which I will email to you.

6.  I will review your policy on an annual basis.

7.  In the event of a claim, you can call me directly for assistance.

 

How we work – Fire & General (Domestic) Insurance through Stylecover/AON

1.  We determine what risks you wish to cover.

2.  Provide quotes based on the levels of cover you wish to put in place.

3.  Determine whether there are any particular risks you have that need to be specified during the

     application process.

 

How we work – Fire and General (Domestic) Insurance through Tower

1.  Refer you to Tower Insurance.

2.  The Tower Sales team will give you a call and determine which policy is best suited for your needs.

     They will complete the application process with you.

 

How we work – Will referral with Footprint

1.  Refer you to Footprint for a Will.

2.  Footprint will contact you via email for further service requirements.

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MY EXPERIENCE AND QUALIFICATIONS:

I hold the New Zealand Certificate of Financial Services (Level 5). I have been providing financial advice for personal risk insurance for 26 years. I am accredited with each Insurance provider relating to updated product knowledge accreditation. I undertake regular professional development to maintain and improve my competence and knowledge.

 

RELIABILITY HISTORY:

Neither Warren Butler Insurance Limited nor I, Warren Butler have been subject to a reliability event.

A reliability event is something that might materially influence you in deciding whether to seek advice from me or from Warren Butler Insurance Ltd.  There are no reliability events to be reported.

 

(As an example, such events would include legal proceedings against me, disciplinary action from regulatory bodies or if I had been discharged from bankruptcy in the last four years).

 

MEMBERSHIPS: FSCL – Financial Services Complaints Limited

 

FEES OR EXPENSES: I will not charge you a fee for the financial advice I will provide to you.

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MY DUTIES AND OBLIGATIONS TO YOU:

I have duties and obligations under the financial markets conduct Act 2013 relating to the way I give advice. I am required to:

• ensure you understand the nature and scope of service you asked me to provide.

• Provide a service and advice that is relevant to the scope of service and suitable to your circumstances and needs.

• Listen to your needs concerns preferences and to treat you fairly and with respect.

• Act with integrity and give priority to your interests and give advice not influenced by my own interests exercise care diligence and skill in providing you with the correct advice.

• Maintain the necessary standards of competence knowledge and skill to provide you with the advice requested.

• Provide you with advice and ensure that you understand my advice and recommendations and any associated risks keep you informed along the way and communicate in a timely clear and effective manner.       

More information is available by visiting the financial markets authority website at https://www.fma.govt.nz/compliance/role/financial-advice-provider/#dapDuties

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CONFLICTS OF INTEREST AND INCENTIVES:

I am an employee and shareholder of Warren Butler Insurance Limited and I get paid a salary.

 

The commission that Warren Butler Insurance Ltd. receives from the Insurance providers is not a profit.  It is the revenue which the company requires in order to pay company expenses for example, pay salaries, rent, expenses, taxes, and attend to all Services on your behalf. This remuneration is earned in various ways. 

 

Warren Butler Insurance Ltd.  receives commission from life & medical insurance providers through which we place business. This is paid to my company Warren Butler Insurance Limited. The amount of commission is based on the premium you pay. Typically, we will receive an upfront commission of between 0.35x to 2x of the annual premium you pay and an annual ongoing commission of 5-25% the annual premium. More specific detail is provided at the time our advice is given.

 

For general insurance providers through which we place business, an ongoing commission of approximately 7.5-15% of the Insurance company premium charged is paid to Warren Butler Insurance Ltd. More specific detail is provided at the time our advice is given.

 

For KiwiSaver providers through which we place business Warren Butler Insurance Ltd. receives an upfront fee of $40-$240 per member. We are also paid an ongoing fee dependent on the value of your KiwiSaver scheme value. 

 

Warren Butler Insurance Ltd. receives commission of 20% of a client’s policy premium for travel insurance plans implemented.

 

We ensure that we prioritize your interests above our own by following an advice process that shows our recommendations are based on your objectives needs and circumstances. I manage possible conflicts of interest by:

 

• avoiding any production requirements for one product provider

• having access to a range of product providers

• using third party product research as part of our analysis

• review our compliance processes regularly

 

Other conflicts of interest could be when product providers reward us in the form of hampers and incentives for business we provide to them.

 

COMPLAINTS HANDLING AND DISPUTE RESOLUTION:

We are always looking for ways to improve our service to you. If something has gone wrong, we want to know.

 

Please send an email to insurance@warrenbutler.nz and tell us what has happened and how we can resolve matters.  If you have any documents or correspondence that will help us understand your complaint, please attach them to the email.

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When we have received your complaint we will be considering it following our internal complaints process:

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• We will consider and acknowledge your complaint within 1-2 working days

• We will gather and evaluate information about your complaint. We may need to contact you to get further information about your complaint.

• We will respond to you within 20 working days.

• 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 cannot resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact Financial Services Complaints Limited (FSCL). FSCL are an independent, not-for-profit, external dispute resolution scheme approved by the Minister of Consumer Affairs.

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FSCL's service does not cost you anything and they will help resolve the complaint. You can contact FSCL by:

• Calling 0800 347 257

• emailing complaints@fscl.org.nz

• through their website www. fscl.org.nz

• Writing to FSCL at PO Box 5967, Wellington, 6011