07 578 4414
How we get paid, fees and conflicts of interest:
How our Advisers are paid
All of our Advisers, both Fire and General and Life Advisers are paid salaries. We think this is a great way to show that Financial Independence and our Advisers are working in the best interest of our clients, as they are not incentivised by commission.
Fees and expenses
We only apply fees to insurance placed in regard to Fire and General insurance. This is for such things as Car, House, and Contents, Professional Indemnity, Public Liability, etc.
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The fees for placing your Fire and General insurance with Financial Independence are variable per client based on the products chosen and advice given. These fees will be made clear to you when advice is given.
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No fee is charged regarding the placement of Life products, such as Life, Disability, and Health.
How we manage any conflicts of interest
Our FAP’s, or Financial Advice Providers, trading as Financial Independence, receive commissions if you choose to follow the advice given by one of our salaried Advisers and take out insurance. The amount of commission is based on the amount of the premium.
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More detail on the commission that our FAP's will receive will be provided at the time of our advice.
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On occasion, an Insurer may do such things as, bring morning tea, send a hamper at Christmas, or take us out for a meal, we see these less as a conflict of interest and more as relationship-building so that we can liaise better between our clients and the Insurers that we work with.
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Steps we take to manage the above described potential conflicts:
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We have access to a range of product providers.
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We use third-party product research as part of our analysis.
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undertake extensive in house research on product wording.
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We have our processes audited.
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We pay our advisers salaries.
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The Life Insurers that we work with are:
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Partners Life
Asteron Life
Fidelity Life
Chubb
Pinnacle Life
AIA
Southern Cross
nib
accuro
Resolution Life
Unimed
The Fire and General Insurers that we work with are:
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NZI
QBE
Chubb
IUA
Delta
Dual
Vero
Vero Liability
ALLIANZ
Classic Cover
Lumley
Protecsure
ANDO
LLOYDS
AIG
ZURICH
BERKSHIRE HATHAWAY
ROSSER (Underwriting Agency)
Star (Underwriting Agency)
TLC (Underwriting Agency)
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