Disclosure

How we work

Overview

There is important Information you need to know if we agree to work together to provide you or your business with financial advice. I am a financial adviser contracted to Maurice Trapp Group.

Maurice Trapp Group Limited (FSP107344) holds a licence issued by the Financial Markets Authority to provide financial advice. I am authorised by that licence to provide financial advice

My contact details                Cherian John

Email:                                   cherian@mauricetrapp.com

Address:                              Level 2, 14 Jervois Road, Ponsonby, Auckland

Phone:                                  022 1069724

Website:                              www.mauricetrapp.com

My registration:                    FSP1007185

 

Scope of Service

I provide advice to my clients about their life insurance, health insurance and KiwiSaver. I provide financial advice about products from certain providers:

For life insurance, we work with:
	AIA	Fidelity
	Asteron	Partners Life
	Cigna
For health insurance, we work with:
	AIA	Partners Life
	Nib
For KiwiSaver, we work with
	Generate	NZ Funds – KiwiSaver and WealthBuilder Scheme

In providing you with financial advice, I will only consider existing term Life, Trauma, Income Protection and Health insurance policies (if any), along with your disposable income and spending behaviour. I can also provide advice on existing whole of life or endowment products if you would like assistance in this area.

Acting in your interest
To ensure that I prioritise your interests above my own, I follow an advice process that ensures that my recommendations are made on the basis of your personal goals and circumstances. I undergo training on how to avoid conflicts of interest. Maurice Trapp Group Limited maintains and monitors a register of conflicts of interest, and the gifts and incentives I receive including an annual review under our compliance programme.

How do we get paid?

We does not charge any fees or expenses for any financial advice, claims assistance or policy servicing provided to my clients, unless agreed in writing.

We receives commissions from providers whose products I give financial advice on (insurers and KiwiSaver providers). If you decide to take out insurance or to take my KiwiSaver advice, the provider will pay a commission to Maurice Trapp Group, a percentage of which (60% for insurance) is paid on to me as your financial adviser. The amount of commission received by Maurice Trapp Group is based on the amount of your annual insurance premium or the investment balance for your KiwiSaver.

From time to time, product providers may also reward me in the form of tickets to events, hampers or other incentives.

What to do if you are unhappy

If for any reason you are dissatisfied with the service or advice you have received from myself or Maurice Trapp Group, we will go to every length to ensure that your complaint is resolved promptly. This provides us with the opportunity to prove to you that we are proactive, fair and genuinely care about your concerns.

See their web site for full information: www.mauricetrapp.com/legal/risk-insurance/maurice-trapp-group-limited-complaints-policy/

An initial complaint can be sent through to our Internal Complaints Process personnel on our dedicated email address    feedback@mauricetrapp.com.
 

We will respond to you within 24 hours during a regular working week.

If, ultimately, you are not satisfied with our response, we belong to an independent Disputes Resolution Authority.  This service is free of charge. Their details are:

Financial Services Complaints Limited

• Email:                  info@fscl.org.nz
• Telephone:         (Call Free for Consumers) 0800 347257 or 04 4723725
• Address:             P O Box 5967, Lambton Quay, Wellington 6145
• Web:                   www.fscl.org.nz

 

Scope of Service and Engagement

In providing you with financial advice, I Cherian John will review any insurance policies you have made us aware of and consider your personal and financial circumstances. I may recommend changes and adjustments to the insurance portfolio that you have in place and will discuss the risks and benefits of this as part of my recommendation.

I follow an advice process that ensures my recommendations are made on the basis of your individual goals and circumstances.  manage any conflicts of interests via a company-wide that stipulates that we register any

conflicts that may occur. Our registers are regularly monitored by Head Office and are reviewed annually.

To:          Maurice Trapp Group

I/we:  (name)_____________________________________________________________________________

Of: (address)__________________________________________________________________________________

 

□ INITIAL REVIEW:

I/we hereby appoint Maurice Trapp Group to conduct a Personal Risk Protection Review of my/our Life Insurance requirements. Specifically, the Scope of Service relates to the following products:

 

 

 

	Life		Medical / Health
	Trauma / Critical Illness		Business /Key Person cover
	Disability Income / Total Permanent Disability		KiwiSaver

Initials: ____________________

 

□ APPOINTMENT:

I/we hereby appoint Maurice Trapp Group to act as our adviser and thereby provide service, recommend the actions / provisions necessary to meet my/our personal risk management requirements and to process / manage future Life insurance claims on my/our behalf.

Please update your systems to show Maurice Trapp Group as my/our servicing adviser (Life Insurance), please release any information they may request now or in the future regarding medical or financial information in relation to my/our Life Insurance.

Specifically, the Scope of Service requested relates to the following products:

	Life		Medical / Health
	Trauma / Critical Illness		Business Key Person cover
	Disability Income / Total Permanent Disability		KiwiSaver

 

Initials: _________________

 

AUTHORITY TO THIRD PARTIES:

I/we authorise Maurice Trapp Group to obtain all relevant personal information (including Medical/Financial) and documentation necessary to provide service, recommend the actions / provisions necessary to meet my/our personal Life Insurance requirements and to process / manage future insurance claims on our behalf. In Order to assist with this, please update your Systems to allow Maurice Trapp Group to receive any information they may request now or in the future. This authorisation is enduring and therefore is to remain valid until revoked in Netter or e-mail). A photocopy faxed or scanned copy of this authority is to be considered as an original.

 

SCOPE OF ENGAGEMENT:

I/we agree that, should l/we proceed with an insurance portfolio as recommended by Rick Willis, I am/we are engaging them as my/our Financial Adviser for insurances and/or KiwiSaver. I/we acknowledge that there is no charge to me/us for this service unless agreed upon in writing, now or in the future, and that Maurice Trapp Group is remunerated via commissions paid by the insurer — commissions ‘clawed back' if policies are cancelled cannot be recovered from me/us by Maurice Trapp Group nor the individual adviser appointed to me/us.

l/we have been provided with a copy of "How we work at Financial Design Group" (Disclosure) documentation and understand a copy can made available to me at any stage.

 

DISCLOSURE OF INFORMATION:

Should l/we proceed with insurance cover through Maurice Trapp Group, l/we understand that the recommendations are reliant upon the information l/we have provided being true and correct. This includes the need for full and complete disclosure of health and financial details to the insurer. If at any stage l/we become aware of inaccuracies in the information l/we have provided, l/we will notify Maurice Trapp Group immediately.

 

PRIVACY ACT CONSENT:

In accordance with the Privacy Act 2020 I/we hereby give consent to Maurice Trapp Group to collect, store and use our information as specified below:

• To verify my/our identity
• To provide services and products to me/us by way of assessing and managing my/our insurance application and policy, to assess and manage my/our claims, and to provide customer care and support and improve the services and products that are provide to me/us.
• To market services and products to me/us, including contact electronically (e.g., by text or email for this purpose)
• To respond to communications from me/us, including a complaint
• To conduct research and statistical analysis (on an anonymised basis)
• To protect and/or enforce Financial Design Group legal rights and interests, including defending any claim.
• For any other purpose authorised by me/us or the Act. E.g., internal or external audits
• I understand that I/we have the right to access and correct any of my/our information held and that my/our authorisation is sought before any such information is released to a third party, other than those specified above. I/we further understand that the information collected will be held at the offices of Financial Design Group, Level 2, 14 Jervois Rd, Ponsonby 1011.

Important information for you to know.

How we get paid:

I do not charge you a fee for my services as your financial advisor unless we agree upon this in writing. If you accept my recommendations and go ahead with the new insurance covers, Maurice Trapp Group will receive remuneration from the relevant provides. Each year the policy remains in force, an annual service commission will be paid by the provider. This commission will be:

	When first put in place	Ongoing annually
Life Insurances	100-220%	0-10%
Medical / Health	25-140%	7.5-25%
KiwiSaver / Investment	A single payment of $50-300	A % based on your balance

The initial remuneration will be split 40% to Maurice Trapp Group and 60% to my business, and the annual service commission will be split 50/50.

Conflicts of interest and incentives:

Sometimes product providers offer gifts or incentives to me as a result of my relationship with them. I undergo

annual training on how to manage conflicts of interest and have a robust advice process that ensures I act in your best interest.  Maurice Trapp Group monitors and registers any gifts or incentives I receive and conducts an annual review of this under our compliance programme.

What to do if you are unhappy:

If you are not satisfied with the service from myself or Maurice Trapp Group, we want to hear from you. You can find a full overview of this at https://mauricetrapp.co.nz/legal/risk-insurance/maurice-trapp-group-limited-complaints-policy/ Alternatively, you can email feedback@mauricetrapp.com and you will be walked through the complaints process by one of Maurice Trapp Group's managers.

 

My duties as your financial adviser:

I have duties under the Financial Markets Conduct act 2013, relating to the way that I give advice. I am required to:

• Give priority to your interests by taking all reasonable steps to make sure my advice isn’t materially influenced by my 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 I have the expertise needed to provide you with advice, and I can provide you a copy of this if you wish).
• Meet standards of ethical behaviour, conduct and client care set by the above-mentioned Code of Conduct.

This is a summary of the duties that I have, and I am audited on this by Maurice Trapp Group regularly. I am happy to provide you with additional information regarding these duties, or you can find out more by visiting the Financial Markets Authority website at www.fma.govt.nz

Any of the information discussed in this report, or in person is available in writing on request. Please let me know I you would like a written copy.

 

Maurice Trapp Group

Below are some of the benefits Maurice Trapp Group offers you as a client.

• We have no obligation to place business with any one product provider.
• We care about you and your long-term future, meaning we will regularly review your cover to make sure it still meets your needs.
• We always endeavour to get your cover accepted on the best possible terms with the insurance company and will assist with reviews of these terms wherever we can.
• In the event of a claim, we take care of all the details, relieving you of the stress of dealing with the insurance company and assisting you in every way possible.
• We have a vast amount of customer service, underwriting, and claims experience in the team, and look forward to a lifelong relationship with our clients.

Other ways we can help

Maurice Trapp Group Offers advice services for investments, KiwiSaver, and Fire & General Insurances (car,

contents & home, Professional indemnity & liability etc). If I am unable to assist you myself, I can work with another Maurice Trapp Group adviser to ensure you have specialised advice and thorough protection.

There are some financial services such as estate planning, Wills, mortgages and accounting, that we do not currently Offer in-house. However, due to my working relationships with a number Of other businesses, I can refer you to someone suitable if you would like. It is important that your Will and any Trusts are kept up to date as this may impact on where your insurance claim payment go.

Maurice Trapp Group also offers Group Scheme and Employee Benefits programmes. please let me know if you would like to consider this for your business.