Who are we? 

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Priority Financial Services is authorized to provide a financial advice service under a license issued under the Financial Markets Authority.

 

What service do we offer? 

 

We specialize in providing life insurance and home loan solutions from our approved insurance and home loan providers to help you manage life’s bumps in the road.                                                                  

 

Our approved product providers are:  

 

Insurance Providers

AIA, Asteron Life, chubb, Partners Life, nib, Accuro, Bizcap

 

Home Loan Providers 

ANZ, BNZ, SBS, Sovereign (AIA), Resimac, Heartland Bank, Bluestone, Unity, Liberty, Avanti, Prospa, ASB, WestPac, HomeSec, Cooperative Bank

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What do our services cost? 

 

Insurance and Home Loans

You will not be charged a fee, at any time, for any advice given even if you do not take any of the insurance cover recommended for you.

 

How am I remunerated?

 

Commissions from product providers

Our approved product providers pay Priority Financial Services a commission when you purchase a financial product (such as an insurance product or home Loan product) and on an ongoing annual basis. In some cases, our approved product providers may also pay an additional variable commission.

 

During the advice process, I will inform you of all commissions payable and who will receive them.

 

Referral commissions - In some circumstances, your financial adviser may refer you to another professional (for example, an investment adviser or general insurance adviser). In return, your financial adviser may receive a share of the commission payable to the professional. Likewise, if another professional refers you to a financial adviser, they may receive a share of the commission payable to the financial adviser

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Other incentives 

From time to time our product providers may offer your financial adviser other forms of incentives. These may include, for example, tickets to an event such as a rugby game. During the advice process, I will inform you of any material incentives that they receive as a result of the advice provided to you.

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How do you know you're getting the right advice? 

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We pride ourselves on the high standards in the industry.

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We receive training and must also follow our advice process. Our advice process is designed to ensure that recommendations are made based on your goals and circumstances and are suitable for you.

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To make sure that you are getting the right advice we may time to time have an external audit of our processes to monitor our work and, if we find something that’s not quite right, we will fix it for you.

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These processes help us to manage conflicts of interest relating to the commissions we receive.

 

What duties do we have as financial advisers?

        

As your financial advisers, we have legal duties relating to the advice we give. We are required to:

 

• give priority to your interests by taking all reasonable steps to make sure their advice isn’t materially influenced by their interests, or ours

• 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 that we have the expertise needed to provide you with advice)

• meet standards of ethical behavior, conduct, and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice).

 

This is a summary of these duties. More information is available by contacting us or by visiting the Financial Markets Authority website.

 

Conflicts of Interest 

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To ensure that I prioritise your interests, I follow an advice process that ensures my recommendations are made based on your goals and circumstances. I am under no contractual obligation to promote any one product over another. 

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Priority Financial Services Ltd takes steps to manage any conflicts of interest. These steps include the following:

• Undertaking annual training about how to manage conflicts of interest and requiring me to register any conflicts of interest; and

• Engaging independent research to support any recommendation I make to you.

 

 Use of Information

 

We will collect personal information (including full name, address and contact details) so that we may administer our customer relationships and provide clients with the products and services they request. This information is held at our offices.  If at any time you wish to have access to, or correct any of, the information obtained with your permission, please contact us. We may be allowed or obliged to disclose information by law, eg: under Court Orders or Statutory Notices pursuant to taxation laws. We may also disclose personal/business information to other financial institutions and organisations at their request if you seek to obtain products and/or services from them. Personal/business information may also be disclosed to:

 

• Professionals including but not limited to solicitors, accountants, mortgage brokers, and stockbrokers when a referral is required, at your request and;

• If you have insurance, those involved in the insurance process including but not limited to claims investigators, medical practitioners, re-insurers, insurance reference agencies.

• If I intend to sell my business, any prospective purchaser of my business.

• The Financial Markets Authority and/or any other regulatory body as required for audit purposes.

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