Nature and Scope of the financial advice

Jaspis Limited, trading as Excelins Life & Health (Excelins) provides advice to our clients about their life, trauma, disability and health insurances as well as advice on KiwiSaver.

Excelins has agreements in place with a wide range of product providers and will recommend a suitable provider once we have conducted our analysis of your personal situation and research on the best product and/or product provider to meet your needs.

The life insurance providers that Excelins uses are:

  • Fidelity Life;
  • Asteron Life;
  • Partners Life;
  • AIA

Excelins is accredited to provide financial advice about health insurance from:

  • Southern Cross;
  • Accuro;
  • Nib;
  • Partners Life;
  • AIA

Excelins only provides financial advice about KiwiSaver from Generate KiwiSaver scheme.

Areas of financial advice that Excelins does not cover are:

  • Insuring your home, contents, car and other asset insurance.
  • Mortgage advice.
  • General tax advice.
  • Estate planning and asset protection.
  • Investment planning service.

We can refer to you specialists in these areas should you so wish.

Remuneration & Fees

Our service to you includes analysing the suitability of the provision of products and/or services to you, providing written recommendations in the form of a Statement of Advice and assistance to implement the recommendations.

There is no cost to you in respect of our services. Excelins and your adviser are paid by the insurance company or KiwiSaver provider in the form of commission. Excelins and your adviser may also receive ongoing commission for the life of the product(s) placed. You will not be billed or asked to pay any fees to us at any time even if the engagement of services is terminated by either party.

Conflicts of Interest and Incentives

Excelins and your adviser will receive commissions from the providers on whose products we give financial advice (insurers, KiwiSaver providers). If you decide to take out insurance or follow our KiwiSaver advice, the provider will pay a commission to Excelins and your financial adviser. The amount of the commission is based on the amount of the premium or the KiwiSaver.

How we manage any conflicts of interests

We have an obligation to act in the best interests of our clients when making a recommendation. In providing advice to you, should any, actual or potential conflict of interest arise then we will bring any such conflict of interest to your notice so that you may assess our advice objectively. Excelins has no quotas or minimum production levels with any insurer and put clients’ interests first.

We may occasionally receive invitations to social events or conferences from various insurers and these can sometimes be production volume based. We undertake these will never influence our impartiality and giving you advice on products and providers which are best suited to your needs.

Our advisers also complete training in conflicts of interest and have a periodic independent compliance review conducted on our advice process.

Our duties

Excelins, 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 at https://www.fma.govt.nz.

The Code of Conduct standards can be read here: https://www.fma.govt.nz/assets/assets/code-of-professional-conduct-for-financial-advice-services.pdf.

Contact Details

Jaspis Ltd (FSP723971 trading as Excelins Life & Health) is the Licensed Financial Advice Provider.

You can contact us at:

Jaspis Ltd
39 Ruamoana Place, Omokoroa 3114
027 552 6757
mark@excelins.co.nz
www.excelins.co.nz