Life Cycle Fire and General

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Disclosure

Disclosure

Licensing Information and Terms

LCFG, operating as Lifecycle Fire & General  (referred to as we, our, or us), is a registered “financial advice provider” licensed by the Financial Markets Authority to offer financial advice.

As a condition of our license, we, along with any representative providing advice on our behalf, are solely authorized to provide guidance on general insurance products.


Nature and Scope of Our Financial Advice Services

We work with a team of financial advisers who provide expert guidance on general insurance products on our behalf. Our policies are designed to help protect your personal or business assets, as well as safeguard you, your business assets, liabilities, and income.

Fees, Expenses, and Other Amounts Payable

We may charge a fee for the financial advice we provide and for implementing that advice. If a fee is applicable, it will be based on the amount of work and time required to offer and implement our advice, and it will be shown on your invoice, payable when you pay your premium. We will disclose the amount of any fee either when we understand the scope and nature of the advice required or when we provide our advice to you.

Our remuneration may also be paid by the insurance providers with whom we place your insurance policy on your behalf, in the form of commission. In either case, we will document the fee structure and keep you informed of any fees or commissions before implementing any advice.


Premium Funding

Premium funding products allow you to pay your insurance premium over the term of your policy through instalments, rather than a lump sum. However, premium funders charge interest and take a power of attorney over your insurance policy. This essentially means that they have the ability to cancel your insurance policy if you fail to pay an instalment.

If you decide to enter into such an arrangement, the premium funder will pay us a commission as a percentage of the amount they fund. The amount of this commission will be disclosed to you when we know the scope and nature of the advice required and whether you intend to use the services of a particular premium funder. The commission will be paid directly to us by the premium funder.


Conflicts of Interest and Commissions or Other Incentives

Lifecycle Fire & General [and our financial advisers] receive commissions from the insurance companies on whose policies we provide advice. If you decide to take out a policy, the insurer will pay us a commission based on the premium amount.

We are a member of Kiwi Advisor Network (KAN), which provides technology platforms, management, marketing, professional, technical, and buying benefits and services to support us in offering financial advice services.

A financial adviser may have a conflict of interest in circumstances where financial advice has been provided to two clients who later have a dispute, including in respect of liability. In this case, the adviser will clearly disclose the conflict of interest to the clients and refer one of these clients to another of our financial advisers for further advice and assistance.

We manage all conflicts of interest and ensure our financial advisers prioritize your interests above their own by following an advice process that ensures our recommendations are made based on your needs and circumstances. All our financial advisers complete mandatory training to understand and manage possible conflicts of interest. We maintain a register of conflicts of interests and any gifts and other incentives that we may receive. We review our compliance program annually.


Duties

  • Lifecycle Fire & General and our financial advisers are bound by the following duties under the Financial Markets Conduct Act 2013 to:
    • Meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services (Code of Conduct), which form part of the wider regulatory regime for financial advice and ensure we have the expertise necessary to provide you with advice.
    • Give priority to your interests by taking all reasonable steps to ensure that the advice given to you is not materially influenced by our own interests or the interests of any other person connected with the giving of advice.
    • Exercise care, diligence, and skill that a prudent person engaged in the occupation of giving related financial advice would in the same circumstances.
    • Meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct, to treat you as we should and to provide you with suitable advice.


Complaints

If you are unhappy with our financial advice service, please contact your financial adviser so they can try to put things right.

  • If you wish to make a complaint or do not feel comfortable discussing your concerns with your adviser, you can contact us in the following ways:
  • Call us at +64 22 340 2622 between the hours of 9-5 Monday – Friday.
  • Email us at samkit@lcfg.co.nz
  • Write to us at 402 Ormiston Road, Flat Bush, Auckland 2019 addressing your letter to the attention 


Complaint Handling Process

If you have a complaint, your adviser will try to resolve it with you immediately. We will send you complain acknowledgement within 5 working days. The acknowledgment letter will include a timeline for our response and the name of the manager handling your complaint. We will investigate the matter and contact you to try to resolve the complaint to your satisfaction. 

We will provide you with a written update within 20 working days of receiving your complaint. If we are unable to provide a full response, we will explain why and inform you of the next steps. After 40 working days, we will issue a final resolution. If we need more time, we will inform you of the reason for the delay and the required timeframe to provide a full response. If you are not satisfied with the delay, you may redirect your complaint to our external dispute resolution service provider, whose details are provided below.

If We Cannot Resolve Your Complaint

We expect our response to address your concerns. If you feel they have not been appropriately considered, you may submit further information for our review. If we cannot resolve your complaint despite our best efforts, you may contact our external dispute resolution scheme for a free and independent dispute resolution service. Please find the contact details for our external dispute resolution service provider below:

Financial Services Complaint Limited


Address:
PO BOX 5967, Wellington 6140

Telephone:
0800 347 257

Email:
complaints@fscl.org.nz

Our Contact details:

LCFG , trading as Lifecycle Fire & General is the Financial Advice Provider. You can contact us using the following details:

Samkit Talajia

Address: 
402 Ormiston Road, Flat Bush, Auckland 2019

Phone: +64 22 340 2622

Email: samkit@lcfg.co.nz