Disclosure Statement
Name of Financial Advise Provider: GROFIN Limited [FSP 717712]
| Name of Financial Adviser: | Greg Wesson (FSP 77861) |
| Trading Name: | GROFIN Insurance Solutions |
| Address: | 15 Wakefield Place, Rototuna North, HAMILTON, 3210 |
| Telephone number: | (027) 246-8252 |
| Email: | [email protected] |
It is important that you read this document
This information will help you to choose a financial adviser that best suits your needs. It will also provide some useful information about the financial adviser that you choose. GROFIN Limited (FSP 717712), trading as GROFIN Insurance Solutions, holds a licence issued by the Financial Markets Authority to provide financial advice.
Nature and Scope of our Financial Advice Services
The Financial Advice Services we are licensed to provide advice to clients on are:
GROFIN is NOT able to provide Tax Advice or Legal Advice. We are able to refer clients to specialist providers for such advice. We are also able to refer clients to specialists in relation to Wills, Enduring Powers of Attorney, or Trusts.
GROFIN has a working relationship with AON NZ for Fire and General Insurance, as well as Business Risk Insurance for business and farming clients.
When reviewing a client's existing insurance cover, GROFIN may not offer advice on whole of life or endowment products. For such support, clients will need to contact a specialist provider.
Commission Remuneration
When we arrange insurance for you, the provider(s) pay us a commission. The amount of the commission varies between providers and products and is based on a percentage of the premium.
Thrive Advice Limited retains a percentage of this commission for the range of professional services they provide to GROFIN.
If a person or entity has referred you to us, we may pay them a percentage of the commission we receive for their referral.
GROFIN will also receive commission from AON NZ for any referrals made to AON for our clients.
For all KiwiSaver investments, GROFIN receives an upfront finders fee, as well as ongoing quarterly trail commission.
Fees in relation to service
Depending on the nature and scope of the service being provided, it may be agreed with you that a fee will be charged. The fees may relate to initial advice or ongoing services that you require.
No fees will be charged to you without there being a fee engagement agreement in place first.
Costs will not be incurred for which you are liable to pay for the advice service without your agreement first.
Conflicts of Interest and Incentives
I, Greg Wesson, may have a conflict of interest in circumstances where financial advice has been given to two clients who later have a dispute. If this occurs, the conflict of interest will be disclosed to you and you will be offered the option to be referred to another financial adviser for advice and assistance.
To ensure that I prioritise your interests first, I follow an advice process that ensures our recommendations are made based on the information you have provided, your unique circumstances and your objectives.
GROFIN Ltd maintains a register of conflicts of interest, of gifts and any other incentives that have been received. If I believe there is a conflict of interest – real or perceived – this will be discussed with you.
Complaints Handling and Dispute Resolution
If you have a problem, concern or complaint about any part of our advice or service, please tell me, so that I can try to fix the problem. In the first instance, please contact me via mobile. If you would prefer to email me or write to me, please use the contact details indicated in this document.
When we receive a complaint, we will:
This information will help you to choose a financial adviser that best suits your needs. It will also provide some useful information about the financial adviser that you choose. GROFIN Limited (FSP 717712), trading as GROFIN Insurance Solutions, holds a licence issued by the Financial Markets Authority to provide financial advice.
Nature and Scope of our Financial Advice Services
The Financial Advice Services we are licensed to provide advice to clients on are:
- Personal Insurance
- Kiwisaver
- Personal Insurance, including: Life Cover, Serious Disability, Income Protection, Trauma Cover, Health and Medical, Mortgage Protection
- Business Insurance, including: Shareholder Buyout cover, Key Person cover, Business Expenses, Business debt cover and ACC Cover Plus Extra
- Kiwisaver
- AIA
- Asteron
- CIGNA
- Fidelity Life
- Partners Life Limited
- NIB
- Accuro
- Generate | NZ Funds
- GROFIN is able to assist self-employed clients with an application for Cover Plus Extra through ACC
GROFIN is NOT able to provide Tax Advice or Legal Advice. We are able to refer clients to specialist providers for such advice. We are also able to refer clients to specialists in relation to Wills, Enduring Powers of Attorney, or Trusts.
GROFIN has a working relationship with AON NZ for Fire and General Insurance, as well as Business Risk Insurance for business and farming clients.
When reviewing a client's existing insurance cover, GROFIN may not offer advice on whole of life or endowment products. For such support, clients will need to contact a specialist provider.
Commission Remuneration
When we arrange insurance for you, the provider(s) pay us a commission. The amount of the commission varies between providers and products and is based on a percentage of the premium.
Thrive Advice Limited retains a percentage of this commission for the range of professional services they provide to GROFIN.
If a person or entity has referred you to us, we may pay them a percentage of the commission we receive for their referral.
GROFIN will also receive commission from AON NZ for any referrals made to AON for our clients.
For all KiwiSaver investments, GROFIN receives an upfront finders fee, as well as ongoing quarterly trail commission.
Fees in relation to service
Depending on the nature and scope of the service being provided, it may be agreed with you that a fee will be charged. The fees may relate to initial advice or ongoing services that you require.
No fees will be charged to you without there being a fee engagement agreement in place first.
Costs will not be incurred for which you are liable to pay for the advice service without your agreement first.
Conflicts of Interest and Incentives
I, Greg Wesson, may have a conflict of interest in circumstances where financial advice has been given to two clients who later have a dispute. If this occurs, the conflict of interest will be disclosed to you and you will be offered the option to be referred to another financial adviser for advice and assistance.
To ensure that I prioritise your interests first, I follow an advice process that ensures our recommendations are made based on the information you have provided, your unique circumstances and your objectives.
GROFIN Ltd maintains a register of conflicts of interest, of gifts and any other incentives that have been received. If I believe there is a conflict of interest – real or perceived – this will be discussed with you.
Complaints Handling and Dispute Resolution
If you have a problem, concern or complaint about any part of our advice or service, please tell me, so that I can try to fix the problem. In the first instance, please contact me via mobile. If you would prefer to email me or write to me, please use the contact details indicated in this document.
When we receive a complaint, we will:
- Enter the complaint in our Complaints Register
- We will contact you by phone or email within 10 days of receiving the complaint, to advise how we intend to remedy the complaint
- If we are not able to remedy the complaint within this timeframe, we will contact you to advise we need further time to consider or remedy your complaint
- If we are unable to remedy your complaint, or you are not satisfied with the way in which we have remedied your complaint, you may contact our Disputes Resolution Scheme, who are Financial Complaints Services Limited. Their contact details are as follows:
| Address: | PO Box 5867, Lambton Quay, Wellington 6145 |
| Telephone number: | 0800 347 257 |
| Email address: | [email protected] |
Duties of a Financial Adviser
As Financial Advisers, GROFIN Limited are governed by the Financial Markets Conduct Act 2013, relating to the way advice is given.
We are required to:
This is only a summary of the duties that we have. More information is available by contacting us or by visiting the FMA website - FMA Compliance/ Licenced Providers
Greg Wesson – Financial Adviser [FSP 77861]
Greg is your Financial Adviser and is giving advice on behalf of GROFIN Limited, who is the Financial Advice Provider Licence holder (FSP 717712)
Qualifications and Experience of Greg Wesson
Greg Wesson has the following qualifications:
Greg has been giving financial advice in Personal Risk since 1992. As a District Sales Manager for Old Mutual in South Africa, Greg has managed a team of 11 financial advisers, providing support and training in life insurance, business insurance and health insurance. Greg worked as a Business Insurance Manager for ASB Bank Insurance Services, looking after Commercial, Business and Rural clients of the bank, for a number of years.
Professional Memberships
Greg belongs to the following Professional Associations:
The Financial Advice Services Greg Wesson can give advice to clients on are:
The Products that Greg Wesson can advise on are:
The products providers Greg Wesson can recommend are:
My Duties
I am bound by the duties under the Financial Markets Conduct Act.
I am required to:
This is only a summary of the duties that I have. More information is available by contacting us or by visiting the FMA website FMA Compliance/ Licenced Providers
As Financial Advisers, GROFIN Limited are governed by the Financial Markets Conduct Act 2013, relating to the way advice is given.
We are required to:
- Give priority to your interests by taking all reasonable steps to make sure our own interests don’t materially influence our advice;
- Exercise care, diligence and skill in providing you with advice;
- Meet standards of competence, knowledge, and skill as 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 FMA website - FMA Compliance/ Licenced Providers
Greg Wesson – Financial Adviser [FSP 77861]
Greg is your Financial Adviser and is giving advice on behalf of GROFIN Limited, who is the Financial Advice Provider Licence holder (FSP 717712)
Qualifications and Experience of Greg Wesson
Greg Wesson has the following qualifications:
- Diploma Institute Marketing Management
Greg has been giving financial advice in Personal Risk since 1992. As a District Sales Manager for Old Mutual in South Africa, Greg has managed a team of 11 financial advisers, providing support and training in life insurance, business insurance and health insurance. Greg worked as a Business Insurance Manager for ASB Bank Insurance Services, looking after Commercial, Business and Rural clients of the bank, for a number of years.
Professional Memberships
Greg belongs to the following Professional Associations:
- Financial Advice New Zealand and its predecessors since 2020.
The Financial Advice Services Greg Wesson can give advice to clients on are:
- Personal Insurance
- Kiwisaver
The Products that Greg Wesson can advise on are:
- Personal Insurance including: Life Cover, Serious Disability, Income Protection, Trauma Cover, Health and Medical, Mortgage Protection.
- Business Insurance including: Shareholder Buy-out cover, Key Person cover, Business Expenses, Business Debt cover and ACC Cover Plus Extra.
- Kiwisaver
The products providers Greg Wesson can recommend are:
- AIA
- Asteron
- CIGNSA
- Fidelity Life
- Partners Life Limited
- Accuro, and
- NIB
My Duties
I am bound by the duties under the Financial Markets Conduct Act.
I am required to:
- Give priority to your interests by taking all reasonable steps to make sure our own interests don’t materially influence our advice;
- Exercise care, diligence and skill in giving you advice;
- Meet standards of competence, knowledge, and skill as set by the Code of Professional Conduct for Financial Advice Services. These are designed to make sure that I have the expertise needed to give you 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 I have. More information is available by contacting us or by visiting the FMA website FMA Compliance/ Licenced Providers