Adviser disclosure

 

 

 

 

 

 

 

 

Sarah Cavanagh

 

Terms of Business and Adviser Disclosure

ABOUT ME

Name:	Sarah Cavanagh	I am a Financial Adviser for Genesis Advice I provide financial advice on behalf of Wealthpoint Limited (FSP678011) which holds a Financial Advice Provider Licence.  Unless detailed in this document, my advice and recommendations will be personalised to your specific situation, considering your goals, personal situation, or your specific needs.
Financial Adviser:	FSP1003518
Address:	Building 4, 195 Main HighwayAuckland 1051
Phone Number:	021 800 864
Email Address:	[email protected]
Website:	www.genesisadvice.co.nz

QUALIFICATIONS NZ Certificate in Financial Services – Level 5  EXPERIENCE I have been a Financial Adviser since 2006, and have been in financial services in New Zealand since 1996 DUTIES INFORMATION I am bound by the duties of the Financial Markets Conduct Act to: Meet the standards of competence, knowledge and skill set out in the Code of ConductGive priority to the clients’ interest and exercise care, diligence and skill and meet the standards of ethical behaviour and conduct.Client care as set out in the Code of Conduct.

SERVICES I CAN ASSIST WITH Life Insurance: Insurance providing a payment upon terminal illness or death of the insured. Trauma Insurance/Serious Illness/Critical Illness cover: Insurance providing a lump sum payment to cover immediate medical expenses and other financial needs when a critical illness or injury occurs. Disability Insurance: Insurance that provides a lump sum in the event the insured is prevented from working and unlikely to work again in the future due to disability. Income/Mortgage Protection: Insurance that provides income in the event the insured is prevented from working and earning an income due to an illness or disability. Health Insurance: Insurance providing reimbursement for certain types of medical expenses.

SUPPLIERS, RELEVANT COMMISSIONS AND FEES

RISK PROVIDERS

I provide advice on the following product providers:

• Accuro Health
• AIA (Previously Sovereign)
• Asteron
• Chubb Life
• Fidelity Life
• NIB Health
• Partners Life
• Resolution Life Ltd

Upfront commission paid by the insurer ranges from 0-230% and ongoing trail commission ranges from 

0-30%

OTHER FEE INFORMATION

Supplier fees will be received by Wealthpoint Limited from product suppliers or platform providers and will on-pay the fees received to Genesis Advice whilst retaining between 3% and 6% of the fees.

ADVISER FEES

I may charge fees for my services to clients. Separately, I may charge you a fee for a review of your existing business which will be a flat fee or at an hourly rate which I will agree with you in advance. Typically, these fees will be $150 per hour, depending on the work to do.

LIMITATIONS ON THE ADVICE I PROVIDE

I do not provide financial advice on (Commercial Insurance, Domestic Insurance, Rural Insurance, Lending, Investment (non Kiwisaver), Kiwisaver, Travel Insurance, Workplace Group Insurance), however we do have specialists within Genesis Advice and the wider Wealthpoint Network who I can refer you to.

In some cases I may refer you to an adviser outside of Genesis Advice for specialty advice on areas I am unable to assist. I may receive a referral fee for this.

COMMISSIONS, CONFLICTS OF INTEREST AND INCENTIVES

I may receive bonuses depending on the amount and value of financial products I distribute.

Product providers pay a commission for any business that is written. 

This commission is based on a percentage of the annual premium value minus any taxes, levies etc (eg GST).

This commission is paid to Wealthpoint Limited who has an agreement with the product provider to distribute their financial products. 

Wealthpoint Limited on-pays the commission received to Genesis Advice whilst retaining a portion of the commission. Wealthpoint will retain between 3% and 6% of any commission received. Wealthpoint may also pay Genesis Advice rebates on a periodic basis.

The amount of commission paid and whether there are ongoing commission payments will depend on the specific financial provider and type of financial product.  I may receive subsidised professional development training from financial providers. 

Wealthpoint Limited and Genesis Advice may receive payments from product suppliers and financial platform providers for the business I place with them.  Wealthpoint may receive funding from suppliers to market and contribute at periodic conferences. 

To ensure Wealthpoint advisers prioritise the client’s interests above their own, our advisers follow an advice process that ensures our recommendations are made based on the client’s goals and circumstances. I am regulated by the FMA and are subject to a Wealthpoint quality assurance process for compliance purposes.

RELIABILITY HISTORY 

Neither my company nor I have ever been publicly disciplined.

Neither my company nor I have ever been convicted nor been the subject of any civil proceedings with respect to Financial Advice

Neither my company nor I have ever been bankrupt or insolvent

PRIVACY INFORMATION 

This statement relates to the personal information that you provide now and in the future. The personal information collected will be held by the adviser business and Wealthpoint to identify services and products that may be suitable for your needs. Wealthpoint can access this information to assist you to provide financial services to you, to administer and service any products you have, to identify other services or products available that may be suitable to your needs, to provide quality control services and to manage complaints. 

I may disclose your personal information to other relevant product providers to enable them to assist me to provide financial services to you. You have the right to ask to see and request correction of any personal information my adviser business and/or Wealthpoint holds about you. My adviser business and Wealthpoint hold information about you securely. If you transfer to another adviser business or I sell my client register, I will transfer the information I hold to the new adviser business or Adviser. Your personal information may be disclosed to auditors. Your personal information may be disclosed to regulators when required under law.