How we work with you…

Before we start, we would like to draw your attention to our Privacy Statement, please have a careful read through this to ensure you are comfortable.

What we can help you with…

Scott & Co have advisers that specialise in advice on personal insurance and insurance for business owners. The type of insurance that our advisers provide advice around is insurance that will assist at time of certain illnesses, certain injuries, and death. This could include but is not limited to, Life Cover, Income Protection, Serious Illness Cover, Health Insurance etc.

Scott & Co also have advisers that specialise in advice on mortgages for residential and investment properties. We work with first home buyers, existing homeowners, and rental property investors. We have access to both main bank and non-bank lenders.

What is our process….

Once we connect (make contact) we want to hear what you are looking to achieve. Our whole purpose in getting involved is to help you achieve your goals and help improve your financial position. We work in partnership with you to achieve this.

If we are not able to assist you then we may be able to recommend someone or some organisation that could assist. This will be the case throughout the whole process.

We do this by gathering details from you. We will conduct a fact-finding exercise to understand your current position and establish if and where we can be helpful.

Once we have gathered the detail that we require we will discuss the nature and scope of the service that we will be involved in for you. We will then seek agreement and proceed to the next step.

The next step is we will analyse the information we have gathered in relation to the agreed nature and scope of service. We may check back with you to be sure we are on the right track. Once we have analysed your information and the products available from our suppliers, we will put together a statement of advice for you to consider.

The statement of advice will assist you to decide whether to follow our advice. It is not unusual at this stage for clients to tell us they would like a few changes. We will accommodate this and change the statement of advice on your instructions if this is the case.

Should you accept the advice we will assist you in implementing it.

Insurance
For example, if an insurance application is required to be completed then we will assist with this. We will lodge this with the selected insurer and work with the insurer to get a decision on cover.

Once we have a decision, we will be back to you with the findings. If there is an offer of terms, we will discuss this with you first. If you are happy to proceed at this stage, we will have the cover put into effect and policy documents will be sent to you.

Should you or a family member need to make a claim on any cover we will assist you personally with this matter.

Should any Policy Owner (you or the nominated party) have any questions surrounding any policy, we will be there to answer your questions and assist.

Mortgages
For example, if a mortgage application is required to be completed then we will assist with this. We will lodge this with the selected lender and work with them to get a decision on finance.

We will work with you to satisfy any additional requirements or queries the lender has about your application. Once we have a decision from the lender, we will come back to you with the outcome.

If there is a loan offer, we will discuss the terms of this with you.

Assuming you are happy with the loan offer, we will negotiate interest rates and cash contribution (if any) for you and then discuss how best to structure your lending.

If the finance we are arranging is for the purchase of a property, once your contract has gone unconditional, we will instruct the lender to document your loan as per your agreed loan structure. As part of this process, the lender will send loan documents to your Solicitor for settlement.

We will also be involved with any changes you make to your lending in the future e.g., top ups, interest rate negotiations for re-fixes, restructures, debt consolidation, future purchases, re-finances. So we can continue to be of assistance, we will maintain contact with you.

Generate KiwiSaver
We provide general financial advice on KiwiSaver and the Generate KiwiSaver Scheme. We can help you understand the risks and rewards of KiwiSaver and the Generate KiwiSaver Scheme. We can also show you how to use a risk profile tool, become a member or how to transfer between KiwiSaver schemes. We will not provide recommendations or opinions on financial products issued by other providers.

Complaints process
Should you have any complaints surrounding our service or advice you can go straight to our Director, Jackie Scott on her mobile, 021 666 334, or email her at jackie@scottco.co.nz.

She will be back to you within 2 days and attempt to have your complaint resolved within 7 days or an agreed period of time. You will be updated throughout the process.

Should you not be happy with any attempt to resolve your complaint you are able to contact our deputes resolution company which is: Financial Services Complaints Limited. They can be contacted in the following ways. (This is at no cost to you).

Office contact details

Address
Financial Services Complaints Limited
Level 4, 101 Lambton Quay
Wellington 6011

Postal Address
PO Box 5967
Wellington 6140

Email
info@fscl.org.nz
complaints@fscl.org.nz

Telephone
0800 347 257
+64 4 472 3725

Below is a list of our Suppliers we will consider when selecting product or making a recommendation.

Risk Product Suppliers:
AIA New Zealand
Asteron Life Limited
Cigna Life Insurance NZ Limited
Fidelity Life Insurance Company Limited
Nib New Zealand Limited
Partners Life Limited

Mortgage Lenders:
ANZ
ASB
BNZ
Sovereign Home Loans
SBS Bank
The Cooperative Bank
Resimac
Avanti
Asap
Basecorp
Bluestone
Cressida Capital
DBR
First Mortgage Trust
Liberty
NZCU Baywide
Pepper Money
Plus Finance
Prospa
Southern Cross Partners

KiwiSaver Provider:
Generate

How do we get paid?

Scott & Co and our financial advisers receive commissions from the providers on whose products we give financial advice (insurers, banks and Generate KiwiSaver). If you decide to take out insurance or a mortgage, or to take our KiwiSaver advice, the provider will pay a commission to Scott & Co and to your financial adviser.

The amount of commission is based on the amount of the premium or mortgage, or the KiwiSaver balance. From time to time, product providers may also reward us for the overall business we provide to them. They may give us tickets to sports events, hampers, or other incentives.

Our advisers can explain this to you when they are making a recommendation and they can explain the dollar amount or percentage amount of revenue that Scott & Co will receive in your specific situation.

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. All our financial advisers undergo regular training including how to manage conflicts of interest. We maintain registers of conflicts of interests, and the gifts and incentives we receive.

Scott & Co monitors these registers and provides additional training where necessary. Scott & Co performs an annual review of our compliance programme.

Aside from the above Scott & Co does receive a referral commission revenue from Tower Insurance if we refer a client to Tower Insurances for any General Insurance solution and a client proceeds with their recommendations. We are happy to explain what that commission revenue is should we refer you to these organisations. We have a formal referral agreement in place.

We hope the above assists you in understanding the way we work and do appreciate you may have further questions. We would be happy to answer these. You can enquire with any of our advisers and or call our Director, Jackie Scott on 021 666 334 and we will be happy to assist.

If you are not already a client, we would love to work with you, contact us at:

Scott & Co Financial Services Ltd
Phone: 09 833 1955
Email:   info@scottco.co.nz
Website: www.scottco.co.nz