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Our Regulatory Responsibilities

As a Financial Advice Provider, We are now required to be licensed by the Financial Markets Authority (FMA). As such, we are required to have, and maintain, certain processes and standards in order to obtain and keep our license.  

The licensing requirements are to protect you, the client, in a number of different ways. There are requirements to ensure that our business meets a minimum standard in order to ensure the capability of providing our advisory services, along with requirements for how we conduct our services.

Together, with our licensing conditions, we are also governed by a code of conduct which all financial advice providers must adhere to when we interact with our client. 

The code ensures that we maintain competencies and puts you the customer interests at the forefront of everything we do. 

We have a number of internal processes which are in place to ensure strong business continuity with our values, our code of conduct and the requirements laid out by the FMA. A summary of the policies we hold and how they best serve you, as our valued clients, are detailed below. 

Advisor
Responsibilities

Duties & Code of Conduct

The Financial Markets Authority (FMA) have detailed specific expectations on how an advisor should conduct themselves in regards to their clients, as well as the key competencies and skills that are needed in order to be an accomplished advisor. The core requirements are: - To treat clients fairly - Act with integrity - Give suitable financial advice - Ensure the client understands the advice provided - To protect client information, and - To ensure the ongoing maintenance of competence in providing financial advice. Our ongoing efforts to meet these expectations are relfected in how they have been adopted into our own Code of Conduct and are interwoven within the rest of our policies and processes.

Privacy

As detailed in the Financial Advisors Code of Conduct, there is an expectation that our client information is kept confidential and secure. This policy details the type of information that we collect from our clients, how we ensure it is relevant to the insurance advice process, who the information can be shared with and how we ensure it is kept safe. This policy is also created within the requirements established in the Privacy Act 2020. A copy of our Privacy Statement is also included in our Disclosure statement which is available on our website.

Disclosure

The provision of accurate and relevant information is a two way process between the advisor and the client. Aynsley and Associates have a policy that details what information we commit to disclosing to our clients, and how we ensure that the client is aware of the type of information that is required from them during the advice process. Disclosure is needed to ensure there is confidence in the accuracy and reliability of the information that is being exchanged between the advisor and the client. This provides the advisor with the ability to recommend financial outcomes that meet your needs and requirements. Disclosure done right, results in the acquisition of a quality insurance product.

Continuous Professional Development

This policy details our commitment to ensuring Aynsley and Associates remains up to date and relevant within the health and life insurance industry. Chris Aynsley, our Financial Advisor, not only has 30+ years of industry experience, but is also qualified with NZQA Level 5 certificate in Life & Health Insurance. With this Chris is able to bring together past experience and current innovations to provide you with holistic insurance advice. Chris partakes in annual insurer provider product courses, and is part of insurance industry think groups such as mySolutions which provide courses and seminars on relevant industry topics.

Record Keeping

In conjunction with our Privacy Policy, we also have a detailed Record Keeping Policy which details where we keep the information we hold on you, how we ensure it is kept secure – physically and virtually, and what format it is kept in. As part of our legal obligations with the FMA, all records must be kept on file for 7 years after the record is made, date the financial advice was given and/or the date from when the information will be relied upon.

Conflicts of Interest

Aynsley & Associates Limitted is a commission based Financial Advice Provider, specializing in Life and Health Insurance. In addition to obtaining commissions, insurers at times run networking and continuous development events in order to assist their advisors to maintain their relevance and understanding of their product and services. This policy is in place to ensure that these interests are acknowledged and compensated accordingly to ensure that we are able to keep the needs and requirements of you, our valued client, front of mind, at all times. Reference to our Conflicts of Interests is also available in our Disclosure Statement.

Providing Financial Advice 

Advertising & Fair Dealing

This policy details how we make sure that any information you obtain from us is free from misleading or deceptive conduct, false or misleading representations and unsubstantiated representations of the insurance advice and products we provide.

Client Review

Aynsley and Associates don’t just provide outstanding service during the process of applying for an insurance policy. We understand that as you and your work or family commitments grow, your insurance policy needs continue to grow with you. As such we have a process in place that details our ongoing service commitments and how we best utilize our financial advisors experience to ensure that your policy is always working to meet your needs and requirements.

How We Engage

We have made the commitment to you, our clients, to act with honesty, care, integrity, honesty and transparency. We agree to place your interests first and ensure that we maintain our competence and skill in order to provide you with the appropriate insurance cover to meet your needs and requirements. In order to meet that commitment this policy details the process on how we: -Engage with you, our clients -Ensure we have an appropriate understanding of your needs and requirements -Ensure you understand and accept your role and responsibilities during the ongoing relationship with Aynsley & Associates -Ensure the product recommended will best meet your needs and requirements -Ensure the product continues to meet your needs and requirements -Ensure the advice complies with the Financial Advisors Code of Conduct

Replacement Business

In addition to how we engage our clients, we also have a separate policy which brings to focus the additional care and review that is undertaken when we recommend replacing an old insurance policy with a new insurance product. This policy details the risks and benefits that are weighed up to ensure a replacement policy is the best outcome for you, the client.

Complaints

We want to ensure that the you feel supported and listened to throughout the insurance journey, from the highs of obtaining cover down to the lows when miscommunication and misunderstandings inevitably occur. We acknowledge that complaints are an invaluable opportunity for feedback from you, our valued client, in areas where we can improve our level of service. As such we have a policy that details our complaints process. Further information can also be found on our website.

Our Business Responsibilities & Compliance

Business Continuity Plan

This policy identifies potential immediate, short and long term impacts various events can have on our staff, wider business and our clients. We have identified client centric contingencies that will be implemented in order to mitigate any disruption to our business operating as per usual. Identified events range from when our advisor is down with the flu all the way up to who we will step in to provide care to you, our client, if needed.

Health & Safety

This policy is aligned with the Health and Safety at Work Act 2015 which details expectations for eliminating, so far as is reasonably practicable, risks to the health and safety of our staff and clients. It details some of the relevant events that may occur, steps for response, and expectations for our capabilities to continuing servicing our clients. This policy is focused on the risks surrounding the environment we work in, such as an extension cord on the office floor all the way up to a natural disaster such as an earthquake or tsunami.

Oversight & Compliance

This policy details how we make sure the policies we have are relevant, legally compliant and are aligned to ensure they are meeting you, our clients, best interests.

Cyber Security

In this technological age, operating across the internet allows the achievement of keeping our business flexible and adaptable in order to meet you, our clients, needs and requirements with minimal disruptions. We utilise a variety of cloud based systems and document storage services. Though there are benefits for utilising cloud based systems, this policy ensures we are aware of the potential risks of operating in a cloud based format, and ensuring we have adequate measures in place to maintain the safety and integrity of our digital information.

Outsourcing

We don’t trust just anyone to provide us with assistance in meeting your needs and requirements. Any third party provider that we use to assist us in ensuring our service capabilities are always top notch, has gone through rigorous review and checks to ensure they will perform in alignment with our business values and our code of conduct.

Material Issues & Breach

We have an obligation to report certain incidents which impact our ability to service you, our client, within the expectations detailed in the code of conduct to the FMA. This policy details the process in how we identify and manage these incidents.

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