Public Disclosure Statement by Armour Financial Services Ltd as required by The Financial Markets Conduct (Regulated Financial Advice Disclosure) Amendments Regulation 2020

Financial Advice Provider: Armour Financial Services Ltd

FSPR Number: FSP 732111

Physical address: 53 Atkin Road, R.D.2, Mangawhai, AUCKLAND 0573

Telephone number: 027 774 4355

Email address: info@armourfinancial.co.nz

This disclosure statement was prepared on 13 May 2023

It Is Important That You Read This Document

This information will help you to choose a Financial Advice Provider that best suits your needs. It will also provide some useful information about the Financial Advice Provider that you choose.

Armour Financial Services Ltd holds a Financial Advice Providers license issued by the Financial Markets Authority.  There are no special conditions that apply to this license.

Nature and Scope of Service

We give regulated advice in respect of:

  • Life Cover – Health Insurance – Income Protection – Trauma Insurance – Total Permanent Disablement – Business Insurance – ACC Levies

When giving advice there are no material limitations or restrictions on the nature and scope of the advice that a client will be given.

We only provide recommendations on products from:

  • Insurances: AIA, Chubb Life, NIB and Partners Life.

How Do we Get Paid for The Services That We Provide to You?

We are required to tell you the specific fees, commissions, extra payments, and other benefits that we have received or will, or may, receive in relation to the services that we provide to you. We must tell you these things before we give you advice or, if that is not practicable, as soon as practicable after we give you that advice.

The following table sets out the commissions we receive from various suppliers.

Insurances

  • Initial: 165% to 220% of the first year’s premium.
  • Ongoing: 5% to 10% of the premium for each year the policy remains in force.

Conflicts of Interest and Commissions or other Incentives.

At the time of preparing this disclosure document we do not have any Conflicts of Interest that would influence the advice we provide. If any conflict occurs in the future, we will advise you and inform you how we would manage that conflict to not influence the advice we provide.

Commissions for Insurances do vary from provider to provider. They are based on a % of the annual premium you pay to the Insurance Provider. We manage this potential conflict by using independent research to select the best solution for your circumstances.

From time to time, we may receive certain non-monetary benefits from product providers. This could include gratuities such as a bottle of wine at Christmas time, calendar, pen, book, the occasional refreshments after a meeting, invitations to events, subsidised professional development, discounted training courses or office supplies etc.

What Are Our Obligations?

As a Licensed Financial Advice Provider, we must comply with the Code of Professional Conduct for Licensed Financial Advice Providers. We also have other obligations under the Financial Services Legislation Amendment Act 2020 (including regulations made under that Act), the Financial Markets Conduct Act.

Complaints Process

COMPLAINTS HANDLING AND DISPUTE RESOLUTION

If you are not satisfied with our financial advice service, you can make a complaint by emailing info@armourfinancial.co.nz / julia@armourfinancial.co.nz or by phoning 09 427 9095. You can write to us at P O Box 275, Silverdale, Auckland 0944. When we receive a complaint, we will consider it following our internal complaints process:

  • We will address your complaint and let you know how we intend to resolve it within 48 hours. We may need to contact you to get further information about your complaint.
  • We aim to resolve complaints within 10 working days of receiving them. If we cannot resolve the complaint for you within that time, we will contact you to let you know we need more time to consider your complaint.
  • We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so.
  • If we cannot resolve your complaint or you are not satisfied with the way, we propose to do so you can contact FSCL Disputes Resolution Scheme. FSCL Disputes Resolution Scheme provides a free, independent dispute resolution service that may help investigate or resolve your complaint if we have not been able to resolve your complaint to your satisfaction. This service will cost you nothing and will help us resolve any disagreements.

FSCL contact details are:

Postal: P O Box 5967, Lambton Quay, Wellington

Telephone: 04 499 7612 Freephone: 0800 347257

Email: info@fscl.org.nz

Public Disclosure

Duties Information

 Armour Financial Services Ltd and any person giving advice on Armour Financial Services Ltd behalf is bound by the following duties in the Act. That we and our advisers:

  • meet the standards of competence, knowledge, and skill set out in the code of conduct; and
  • give priority to your interests; and
  • exercise care, diligence, and skill; and
  • meet the standards of ethical behaviour, conduct, and client care set out in the code of conduct.

If You Need to Know More, Where Can You Get More Information?

If you have a question about anything in this disclosure statement or you would like to know anything more, please ask us. If you have a question about Financial Advice Providers generally, you can contact the Financial Markets Authority – www.fma.govt.nz

How Am I Regulated by The Government?

You can check that I am a financial services provider and a Licensed Financial Advice Provider at www.fspr.govt.nz.

The Financial Markets Authority authorises and regulates Financial Advice Providers and Financial Advisers. Contact the Financial Markets Authority for more information, including financial tips and warnings. You can report information or complain about our conduct to the Financial Markets Authority, but in the event of a disagreement, you may choose to first use the dispute resolution procedures described above (under Complaints Process).