Important Information

R&P Insurance LTD (FSP 1001975) Important Information about our Business

Introduction

R&P Insurance Ltd is a Licensed Financial Advice Provider issued by the FMA to provide financial advice services.
Financial Services Provider Number is 1001975.

Our office contact details

Address: PO Box 36194, Merivale, Christchurch 8146 
Phone: Rochelle 027 270 8850 or Philly 021 828 739
Email: kiaora@randpinsurance.co.nz
Website: randpinsurance.co.nz

Our Advisers

Rochelle Carly – FSP776711 


Philippa (Philly) McMeekan – FSP100057
Jenna Carruthers – FSP1001987

Sophie Health - FSP1006658

Mortgages with Jenna’ provides mortgage advice under the FAP, for specific disclosure around Jenna’s services, fee’s and commission, please see: www.mortageswithjenna.co.nz.

Nature and Scope of financial advice services

Our Services

  • Personal Insurance

  • General Insurance

  • Debt management, including borrowing for personal and investment purposes
    KiwiSaver

Products we can provide financial advice about:

  • Personal and group Insurance (life cover, disability, income protection, trauma, and Health/Medical Cover)

  • General Insurance (House, Contents and Car)

  • Loans including mortgages, reverse mortgages, and personal loans

  • KiwiSaver investments

Product providers we might recommend:

  • AIA

  • Asteron

  • CHUBB

  • NIB

  • Partners Life

  • Fidelity Life 


  • ANZ Bank

  • ASB Bank

  • BNZ Bank

  • Westpac

  • Avanti Finance

  • The Co-operative Bank

  • Pepper Money

  • Resimac 


  • Booster – KiwiSaver

  • Generate - KiwiSaver

Who we may refer you to:

  • Tower Insurance – general insurance (house, contents, car)

  • Runacres Insurance – business general insurance brokers

  • Other financial advisers (example: investment advisers)

Each of these providers have their own important information statements and disclosure information that they will provide to you directly.

We 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.

In providing you with financial advice, we will only consider your disposable income and will not take your spending behaviour into account, we recommend factoring in the long-term affordability of your insurance premiums.

Our fees:

We don’t charge our clients fees, expenses, or anything else directly for the financial advice we provide in relation to Insurance. This is made possible by the commission we may receive by a product provider.

Commissions:

For services in relation to Life + Health insurance, commissions may be paid by the product provider as follows:

Initial commission - a percentage of the value of your insurance premiums; this may be between 25% to 230% of those annual premiums.

Ongoing commission - a percentage of the value of your premiums, usually calculated at the end of each month or on renewal of insurance products each year. This may be between 5% - 25% of those annual premiums.


Referral fees paid by Tower Insurance in relation to general insurance

Initial commission – a percentage of the value of your insurance premiums; this may be between 10-12% of those annual premiums.

Ongoing commission - a percentage of the value of your premiums, usually calculated at the end of each month or on renewal of insurance products each year. This may be between 10-12% of those annual premiums.


Referral fees paid by Runacres Insurance in relation to business general insurance

Initial commission – a percentage of the value of your insurance premiums; this is 20% of the 20-25% commissions that Runacres receive from insurance companies.

Ongoing commission – a percentage of the value of your insurance premiums; this is 10% of the 20-25% commissions that Runacres receive from insurance companies.


Referral fees paid by and to other financial advisers

If you require financial advice, we are unable to provide, we may refer you to a qualified financial adviser. We may be given a referral fee if you move forward with any advice. This may be between 0-15% of any commission provided to the financial adviser for services or investments implemented. Full disclosure will be provided at the time of the advice given by that adviser.

Other financial advisers may refer clients to us for advice we are qualified to provide. We may pay them a referral fee, this may be between 0-30% of any commissions we receive as a result of implementing Life + Health Insurance advice. Full disclosure of this fee will be provided at the time of advice by R&P Insurance LTD and its advisers.


For services in relation to KiwiSaver, commissions may be paid by the product provider as follows:

Booster: 0.5% p.a Funds under Management

Generate: $40 - $240 Upfront based on the balance transferred.
0.25% p.a. Funds under Management 


Commission information for ‘Mortgages with Jenna’ can be found at www.mortgageswithjenna.co.nz 

Providers update commissions and fees from time to time, this document will be updated as required to reflect these changes.

Conflicts of interest or other incentives

We are here for our clients and to advise you as best we can. Your interests are our priority although we do have business relationships with product providers also.

From time to time our product providers assist us with funding so we can bring our advisers together for conferences and professional development training.

We may also receive other types of incentives in the form of event tickets, hampers, meals and other similar gifts from our product providers.

How we manage any conflicts of interest

To ensure our advisers prioritise our clients’ interests:

  • We follow an advice process that ensures our recommendations are made appropriately, based on clients’ goals and circumstances.

  • All our advisers undergo annual training about how to manage conflicts of interest.

  • We maintain registers of conflicts of interests and the gifts and incentives we receive. These registers are monitored regularly, and additional training is provided as required. We undertake an annual independent Compliance Assurance Review.

Our duties and obligations to you

We are bound by the duties of the Financial Markets Conduct Act (431I, 431K, 431L and 431M) to:

  • Meet the standards of competence, knowledge and skill set out in the Code of Conduct

  • Give priority to the clients’ interest and

  • Exercise care, diligence, and skill and

  • Meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct.

Our Internal complaints process

If you have a problem, concern or complaint about any part of our advice or service, please tell us so that we can try to fix the problem.

Our internal complaints managers are both Rochelle Carly and Philly McMeekan who can be reached via email at kiaora@randpinsurance.co.nz or phone Rochelle 027 270 8850 or Philly 021 828 739 will reply to you within 24 hours.


Our internal complaints handling process is available upon request, complaints will be responded to in a timely manner with a goal to find a suitable resolution.

Our external complaints process

If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact our external disputes resolution scheme – Financial Services Complaints LTD – A Financial Ombudsman Service. This service will cost you nothing and will help us resolve any complaints.

You can contact Financial Services Complaints LTD – A Financial Ombudsman Service at:

Address: PO Box 5967, Wellington 6140
Phone number: 0800 347 257
Email address: complaints@fscl.org.nz

R&P Insurance LTD – Important Information 03/2023