Summit Financial Group Ltd, is a Financial Advice Provider (FAP) licensed and regulated by the Financial Markets Authority to provide financial advice. Our Financial Services Provider (FSP) number is 19442
You can contact us at:
Address: 1 Umbers Street, Wanaka, 9305
Phones: 09 302 7141 or 03 398 3804 (office)
Areas we can provide you with financial advice:
- Personal life, sickness and disability insurance needs and products
- Business life risk insurance needs and products
- Employer Group Plan needs and products
- Health insurance needs and products
- Business life and disability insurance needs and products
- KiwiSaver needs and products.
We do not give advice on life investment products including whole of life, endowment, unit linked insurance and insurance bonds.
We source products from the following companies:
For life risk insurances:
- Asteron Life
- Fidelity Life
- Partners Life
- Accuro (Health insurance only)
- nib (Health insurance only)
- Southern Cross (Health insurance only)
- UniMed (Health insurance only)
- NZ Funds Limited
All our advisers can advise on personal & business risk insurances but may not hold agencies with every company, this will be disclosed at the time our advice is provided to you. Please refer to the link ‘Meet Our Team’ to see Summit’s advisers.
Our duties and obligations to you.
We have duties and obligations under the Financial Markets Conduct Act 2013 relating to the way our advisers give advice. We are required to:
- Ensure you understand the nature and scope of advice you ask me to provide.
- Provide a service that is relevant to that agreed scope of advice 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 not my own.
- Exercise care diligence and skill.
- Meet the necessary standards of competence, knowledge, and skill set by the Code of Professional Conduct for Financial Advice Services.
- Ensure you understand my recommendations and any associated risks.
- Keep you informed along the way and communicate in a timely, clear, and effective manner.
This is only a summary of the duties that we have. More information is available by visiting the Financial Markets Authority website at: www.fma.govt.nz
How we get paid.
Summit Financial Group Ltd gets paid in the form of commission by the insurance company or KiwiSaver fund that you place our recommended products with. The amount of the commission is based on the amount of the premium for insurance or KiwiSaver balance. These commissions vary depending on the product provider used and will be detailed at the time any advice is provided to you. Summit Financial Group Ltd, does not charge fees, expenses or any other amount for financial advice provided to its clients, with one exception relating to Employment Group Insurance Services (see below).
Other fees or charges may apply in certain circumstances and as follows:
Employment Group insurance services – fees and charges
If you set up an Employee Group Insurance plan through us, we will charge a one off set up fee. How we calculate the setup fee will be advised at the time our advice is provided to you.
Conflicts of interest.
To ensure that we prioritise your interests above our own, we follow an advice process that ensures our recommendations are based on your objectives, needs and circumstances. We further manage possible conflicts of interest by:
- Choosing product providers based on your needs and not on the commission we may receive
- 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
- Having our processes audited annually by a reputable compliance adviser
- Our advisers are salaried advisers, which means they are not driven by selling based on the premium amount. The client’s interests are first and foremost.
From time to time, product providers my also reward us for the overall business we provide to them. They may give us tickets to sports events, hampers, or other incentives. To ensure that our financial advisers prioritise our client’s interest above their own, we follow an advice process that ensures our recommendations are made on the basis of each client’s goals and circumstances. All our financial 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. Summit Financial monitors these registers and provides additional training where necessary. Summit Financial performs an annual review of our compliance programme.
We do have third party relationships with Fire & General Insurance Brokers and Investment Planners and if a client requests we refer them onto the third party, Summit may receive referral commission which can vary and this will be detailed at the time of referral.
Complaints and disputes.
If you are not satisfied with our service or financial advice, please tell us as soon as possible so that we can try and resolve this for you to the best of our ability. It is our intention to provide the best possible service we can for our clients and will do our best to try and resolve any complaint received as quickly and effectively as possible. You can make a complaint by calling 09 302 7141 or 03 398 3804 or emailing email@example.com . You can also write to us at C/- General Manager Summit Financial Group Ltd P.O Box 523, Cromwell, 9310.
We will follow our internal complaint process:
- We will acknowledge receipt of your complaint within 5 business days, and respond as follows:
- Phone: We will record the complaint and email you acknowledgement of the phone conversation.
- Email: Acknowledgement by return email.
- Post: You can expect a written acknowledgement posted back to you within 5-10 working days upon our receipt of your letter.
- We will investigate your concerns. Where possible we will resolve your complaint at first contact. If we are unable to resolve your concerns in the first instance and depending on the complexity of the investigation, your complaint may be escalated internally for further review, and we will respond within 10 business days. We will keep you updated with progress and should we need more time or additional information, we’ll agree a timeframe with you, until your complaint is resolved.
- We will do everything we can to resolve your complaint internally but, in some circumstances, this may not be possible. If you are dissatisfied with the final outcome or a resolution cannot be agreed, you can escalate your complaint to our external dispute resolution provider, Financial Services Complaints Ltd (FSCL). FSCL is an independent party and there is no charge for you to use their service – please refer to their website for more details:
Call: 0800 347 257
Write to: FSCL, PO Box 5967, Wellington 6145