PUBLIC DISCLOSURE STATEMENT
Licensing Information
LifeCovered Limited, which trades as 'LifeCovered' and 'CompareNow' is licensed by the Financial Markets Authority to provide financial advice services. Our license number is FSP675171.
You can find us on the Financial Services Register here: https://fsp-register.companiesoffice.govt.nz
Companies office link
https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/6802793
Contact Details
Phone: 0800 437 627
Email: willi@comparenow.co.nz
Web: www.comparenow.co.nz
Mailing Address: P O Box 9408
Physical Address: 10 Bryce Street, Hamilton Central, 3204
What services do we offer?
Nature and scope of service
Everyone's path to wealth and prosperity is unique.
Life is a series of seasons, with sunny and rainy days.
As priorities and needs evolve with the changing seasons, so do people's needs and priorities as they navigate their wealth journey. That’s when we calibrate.
The journey can be divided into three seasons or life stages. We call them
- Protecting wealth, (Think of this as your oxygen mask in the airplane)
- Building wealth, (planting your financial seeds to cultivate and grow your wealth)
- Wealth succession (retire with money).
Our financial protection plans are tailored to fit you, your family, your business and your circumstances to help manage life's bumps in the road.
Our financial advisors provide financial advice in relation to KiwiSaver, Health Insurance, Life Insurance, Disability Insurance and workplace insurance benefits.
Personal Insurance
AIA, Asteron Life, Chubb Life, Fidelity Life and Partners Life
Workplace Insurance
Accuro, AIA, Asteron Life, Southern Cross, nib
Health Insurance
Accuro, AIA, nib, Partners Life, Southern Cross
KiwiSaver
Booster, Generate, Milford, Pathfinder
Please note, we don't provide advice on life investment products like whole-of-life, endowment, unit-linked insurance, and insurance bonds. However, we can refer you to professionals who specialise in these areas.
If our financial advisers are unable to provide advice on any product discussed, this will be made clear in the scope of service and statement of advice provided.
Any financial advice we provide will only consider the information you have given us about your particular needs, financial situation or goals.
We do not provide advice in the following areas but may be able to assist with referrals to our network of professionals:
- Legal, accounting, or taxation advice.
- General insurances (e.g., home, contents, pets, travel, professional indemnity, public liability),
- Mortgages
Fees for Advice
Our service is free of charge.
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 does the business make money?
As a company, we are remunerated by the insurer or investment company, for products sold.
Not to worry, because the commission is already built into the price of all insurance policies and investment product sold. You don’t pay anything extra working with us.
The revenue pays salaries, rent, expenses and taxes.
We do not have any performance quotas with any insurance companies or product providers.
Disciplinary history you should be aware of
None. There have been no professional indemnity insurance, negligence claims, dispute resolution, or disciplinary actions. Ever.
We take all complaints seriously, but we also gratefully accept all clients' suggestions. We welcome your feedback.
Our Duties
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.
- Establishing the client-adviser relationship.
- Gathering client data and determining their goals and expectations.
- Analysing and evaluating the client’s financial position, which can include client’s cash and debt management, personal and business insurance, retirement and estate planning needs and or investment needs.
- Developing and presenting our written advice.
- Overseeing the implementation of the plan.
- Monitoring and reviewing the plan.
This can require several meetings with a prospective client before our advice is finalised.
It also means we maintain a close on-going relationship with clients, regularly reviewing progress and working with them over time to ensure their goals can be met.
All of our financial advisers undergo annual training about how to manage conflicts of interest. We maintain a register of conflicts of interests, and the gifts and incentives we receive.
LifeCovered Limited, and anyone who gives financial advice on our behalf, has duties under the Financial Markets Conduct Act 2013 relating to how we give advice.
We are required to:
- Give priority to your interests by taking all reasonable steps to make sure our interests don’t materially influence our advice
- 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 visiting the Financial Markets Authority website.
Click here to read the Code of Conduct standards.
Handling of Client Funds
LifeCovered does not act as an intermediary and does not receive the client's funds in its own account or operate a trust account. Client funds are directly transferred from the client to the respective investment custodian.
Professional Indemnity Insurance
LifeCovered and its advisers are covered under a Professional Indemnity (PI) Insurance policy as required by Financial Advice New Zealand.
QBE underwrites this insurance and is backed by PI Quadrant.
As with all insurance policies, terms, conditions, and exclusions may apply.
What if something goes wrong?
Step 1
When you have a concern, we recommend you start at the source. Speak with your advisor. If you are unsatisfied, please let us know as soon as possible.
You can reach our Customer Care Team in the following ways:
By mail:
LifeCovered Ltd
P.O. Box 9408
Waikato Mail Centre
Hamilton 3480
By email: team@lifecovered.nz
By telephone: 0800259925
(Monday - Friday, 9 am - 5 pm)
Step 2
If your concern isn't resolved after completing step 1, you can escalate the matter by calling 0278168783 or email willi@lifecovered.nz
Step 3
If your complaint has not been resolved after going through our complaints process, you can refer it to the IFSO Scheme.
This free, independent dispute resolution service will consider your complaint and reach an agreed outcome or make a decision.
See www.ifso.nz or call 0800 888 202 for information on the IFSO Scheme.
Download our disclosure statement here.