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Disclosure
Duties Information
Shape Life has duties under the Financial Markets Conduct Act 2013 relating to the way that I give advice.
We are required to:
- Give priority to your interests by taking all reasonable steps to make sure our advice is not material influenced by our own interests (see Conflicts of Interest)
- Exercise care, diligence and skill in providing advice
- Meet standards of competence, knowledge and skill set set by the Code of Professional Advice Services to ensure we have the expertise needed to provide advice.
- Meet stands of ethical behaviour, conduct and client care set by the Code of Professional Advice Services to ensure we treat you with dignity as we should and give suitable advice, respecting your rights and individuality.
Fees and Expenses
Shape Life Brokers does not charge fees, expenses or any other amount for the financial advice provided to its clients.
If you purchase a product through us and cancel it within 24 months, and the product provider requires us to payback the commission received, then we reserve the right to charge you a cancellation fee equivalent to a reasonable value of the work we have performed in providing that advice. An indication of such a cancellation fee amount will be advised at the time your policy is issued to you.
Conflicts of Interest
Shape Life Brokers receives commissions from the providers on whose products we recommend and you take out. The amount of commission is based on the premium you pay. More details are given in our Statement of Advice at the time our advice is given.
From time to time, providers may also reward us for business we provide to them, such as event tickets or other small items.
All our financial adviser undergo training on how to manage conflicts of interest.
To ensure that our financial adviser prioritise the client’s interest above their own, we follow an advice procedure that ensures recommendations are made based on the client’s objectives, needs and circumstances
- Avoiding any bias towards one product provider
- Not letting any gifts or incentives surpass the needs of the client
- Having access to a range pf product providers
- Using third party product research as part of our analysis
- Having our processes and a review of our compliance programme audited annually by an external compliance officer.
Privacy
The Privacy Act 1993 gives you the right to request access to and correction of, your personal information.
Information provided by you and/or any authorised agent will be used by me and any members of my staff for the purpose of providing advice to you. It may also be used by any:
- product or service provider when implementing any of my/our recommendations or variations thereof;
- compliance advisers, assessors, and/or claims investigators who may need access to such information; and
- other professionals such as solicitors, accountants, finance brokers, financial planners when such services are required to complement this advice and as requested by you.
The information will be safely stored at our offices and on our internal systems.