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Halo Public Disclosure

LICENSING INFORMATION

Halo Advisers Limited (FSP775977) holds a licence issued by the Financial Markets Authority to provide Financial Advice.

The following advisers also trade as Halo Advisers Limited and are authorised under that licence to provide financial advice.
Shakeel Lal – FSP777691

 

NATURE AND SCOPE OF THE ADVICE

Halo Advisers Limited provide advice to our clients about life & health insurance and Kiwisaver.

We only provide financial advice about products from certain providers:

  • For life insurance, we work with 4 companies – AIA, Asteron, Fidelity Life, Partners Life.
  • For health insurance, we work with 3 providers – AIA, Partners Life & NIB.
  • For Kiwisaver, we work with 2 providers –  Generate, NZ Funds

In providing you with financial advice, we will only consider existing term life, trauma, income protection and health insurance policies (if any). We will not provide advice on existing whole of life or endowment products, so you will need to consult a specialist if you would like advice on those products.

FEES & EXPENSES

For Life and Health advice, Halo Advisers Limited does not charge fees, expenses or any other amount for any financial advice provided to its clients.

Halo Advisers Limited may charge a fee for the financial advice provided to a client where a client cancels a life or health insurance policy within two years of inception. Whether a fee will be charged and the manner in which it will be charged will be advised when the advice is provided to the client. This fee will be payable by the client by the 20th of the month after the policy is cancelled.

CONFLICTS OF INTEREST AND INCENTIVES

For life insurance and health insurance, Halo Advisers Limited receive commissions from the insurance companies on whose policies we give advice. If you decide to take out insurance, the insurer will pay a commission to Halo Advisers Limited. The amount of the commission is based on the amount of the premium; On Life Insurance Policies between 180% and 200% (GST inclusive) and service commission on annual basis of between 7.5% and 10%. On Health Insurance policies between 30% and 140% and service commission on an annual of 7.5%.

To ensure that our financial advisers prioritise our clients’ interests 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 undertake a compliance audit, and a review of our compliance programme is undertaken annually by a reputable compliance adviser.

From time to time, product providers may 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 clients’ interests 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. Halo Advisers Limited monitors these registers and provides additional training where necessary. Halo Advisers Limited performs an annual review of our compliance programme.

COMPLAINTS HANDLING AND DISPUTE RESOLUTION

If you are not satisfied with our financial advice service you can make a complaint by emailing info@haloadvisers.co.nz , or by calling: 021 183 5835.

Once we receive a complaint, we follow an internal procedure to ensure we address the issue. Our Process will:

  • Acknowledge your complaint within 2 working days
  • Inform you how we will address the complaint
  • Gather any information that will help us resolve the complaint
  • Aim to resolve the complaint within 20 days

 

If you are not satisfied with our response you have the right to refer your complaint to Financial Dispute Resolution Service (FDRS).  FDRS is an independent dispute resolution scheme approved by the Minister of Consumer Affairs and will help you to resolve your complaint.  There is no cost to you to use the services of FDR.

FDRS can be contacted on:

Telephone: 0508 337 337 | Email: enquiries@fdrs.org.nz

Address: PO Box 2272, Wellington 6140. L 4, 142 Lambton Quay, Wellington 6011

 

OUR DUTIES

Halo Advisers Limited, and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.

We are required to:

  • give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our 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 that we have the expertise needed to provide you with advice).
  • meet standards of ethical behaviour, 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 only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz.