Disclosure Statement (Financial Adviser)

It is important that you read this information.

It will help you (the Client) make an informed decision whether I, Kerri Daley, as a Financial Adviser, will provide advice and access to products that are suitable for your needs and whether to seek, follow or accept the Financial Advice I give. This Disclosure Statement is required under the Financial Markets Conduct (Regulated Financial Advice Disclosure) Amendment Regulations 2020.

Who am I?

Name of financial adviser:           Kerri Daley (FSP1006482)

Financial Service Provider:          Frank Risk Management Limited

Telephone Number:                      07 595 0387

Address:                                          630 Victoria Street, Hamilton 3204

Email address:                                [email protected]

Website:                                           www.frankrisk.co.nz

What sort of adviser am I?

I am a Financial Adviser (FA) that gives advice on behalf of Frank Risk Management Limited who is a licensed Financial Adviser Provider/Authorised Body by the Financial Market Authority of New Zealand (FMA). Financial Services Legislation Amendment Act 2019 requires Frank Risk Management Limited to hold a current license for Advisers to provide Financial Advice Services to you the Client.

To view my registration and Frank Risk Management Limited license go to the Financial Service Providers Register and search our Financial Service Provider (FSP) number FSP28481.

As a Licensed Financial Advice Provider, we have standard conditions on our license, these conditions are not specific to Frank Risk Management Limited and does not limit or restrict advice that may be given.

What Financial Advice can we provide to you?

I can give Financial Advice on Insurance Products for Commercial and Domestic Clients.

Our Insurance product providers are Insurance business in New Zealand that are licensed under the Reserve Bank under section 19 of the Insurance (Prudential Supervisor) Act 2010. The Insurers have a financial strength rating from an approved rating agency. To view the Insurer ratings, click here.

Frank Risk Management Limited‘s insurance product providers are required to have financial strength ratings with a minimum of A- and above. When you receive a quote from us you will be supplied with the current strength ratings for the product providers that we have quoted for. If you accept the Financial Advice, we will supply a current rating for the product provider that you have selected.

Limitations and restrictions

I am committed to providing my clients with good Financial Advice that is suitable for my client’s needs. I only provide Financial Advice on Insurance Products.

How do we act with Integrity?

To ensure that I prioritise your interests above my own, I follow an advice process that ensures recommendations are made on the basis of your individual goals and circumstances. I complete annual and ongoing training about how to manage conflict of interests and a register of interests is maintained. Frank Risk Management Limited monitors these registers and provides additional training where necessary. Frank Risk Management Limited performs an annual review of the compliance programme.

I will make you aware, if there are any potential conflicts of interest that you, the Client, may need take into consideration when you decide to seek and accept Financial Advice from us. For the purposes of the Financial Markets Conduct Act 2013, a conflict of interest means any interest of Frank Group, a financial advisor, or any other person connected with the advice in which a reasonable client may find reasonably likely to materially influence our advice.

How do we get paid for the Financial Advice and Products that we provide to you?

Frank Risk Management Limited and I do not receive any commission or other incentives for giving Financial Advice. Frank Risk Management Limited may receive commission when a domestic client accepts our Financial Advice and purchases an insurance policy. The commission is paid by the Insurer (product provider’s) for the insurance business on each insurance policy that the Client purchases. The commission is paid to us can be between the range of 0-24.5% of the insurer portion (total premium of the Insurance Policy less government levies and taxes).

Frank Risk Management Limited does not receive any commission or other incentives when a commercial client accepts our Financial Advice and purchases an insurance policy, instead we charge a disclosed fee.

I receive an annual salary and am not incentivised by the selling of insurance products.

What fees do we charge?

Frank Risk Management Limited may charge commercial clients a fee for Financial Advice given, we will tell you what the fee is before you accept any advice from us or our Advisers. We will charge commercial clients fees that are payable by you the client when our advice is followed, accepted and the insurance policy is purchased. The fees we charge are for our service, placement, implementation, and administration of the insurance policies that you choose to accept and purchase.

Frank Risk Management Limited may charge domestic clients fees that are payable by you the client when our advice is followed, accepted and the insurance policy is purchased. The fees we charge are for the administration of the insurance policies that you choose to accept and purchase.

All fees are itemised and payable by you the client by the date shown on the invoice.

More information about our fees are included in our terms of business on our website.

NZbrokers Management Limited

Frank Risk Management Limited is a member of NZbrokers Management Limited, NZbrokers Management Limited provides services such as IT, education, training, technical insurance product and claims support and group member benefits to Frank Risk Management Limited. When a client accepts our Financial Advice as your adviser and purchases a policy NZbrokers may receive a service fee or technology fee from the Product Provider.

Profit Share

Frank Risk Management Limited does not accept profit shares from any insurers.

How can you depend on the Advice you receive?

I have not been subject to any other reliability events that would influence you the client in deciding whether to seek or obtain advice from me as your adviser.

How to make a Complaint

If you have a problem, concerns or you are dissatisfied with either a product or Financial Advice service that has been provided by Frank Risk Management Limited or myself and you require action to be taken, please tell us so that we can help and fix the issue. To make a complaint, or to find more details on our complaints process including how to make a complaint please click here.

Frank Risk Management Limited will approach all complaints with an open mind, listen and treat each complainant as an individual and with courtesy and respect. We will promptly acknowledge the complaint and every attempt will be made, to resolve your complaint in a timely manner, with staff escalating as necessary to Senior Management or Complaints Manager.

You will receive a written decision, remedies, and resolution as soon as practicable after Frank Risk Management Limited has decided the outcome.

What to do if you are not satisfied after making a Complaint

If you feel your complaint is not resolved to your satisfaction using the Frank Risk Management Limited complaints process, or you are unsatisfied with the response or resolution, you can contact Financial Services Complaints Ltd (FSCL). FSCL is a dispute resolution scheme of which we are a member. This service will cost you nothing and is an independent service that will help investigate or resolve the complaint. You can click here to find out how to make a complaint to Financial Services Complaints Limited.

You can contact FSCL at:

Postal Address:                P.O. Box 5967, Wellington 6145

Email:                                [email protected]

Telephone:                        0800 347 257

Website:                           http://www.fscl.org.nz/

What are my duties as an adviser?

As a financial adviser I give Financial Advice to clients on Frank Risk Management Limited behalf, when giving advice I must:

·         Hold a Level 5 New Zealand Certificate in Financial Services (or equivalent)

·         Maintain competence, knowledge, and skills for giving Financial Advice by completing continuing professional development.

·         Abide by the Code of Professional Conduct for Financial Services and have Ethical behaviour, good conduct and provide client Care.  

·         Listen to the client carefully to discover their needs.

·         Recommend products or services that meet the client needs and explain why.

·         Give clear and concise communication.

·         Protect client’s information.

·         Give priority to the client’s interests when giving Financial Advice.

Who licenses and regulates us?

The Financial Markets Authority. You can report information about us to the Financial Markets Authority or email [email protected] but if you want to complain you should use our dispute resolution procedures described under How to make a Complaint? and What to do if you are not satisfied after making a complaint?

This disclosure statement was prepared on:      23 November 2023

This disclosure statement was updated on:        23 November 2023