Our public disclosure

Licensing information

MPIP Group Limited (FSP726071) holds a licence issued by the Financial Markets Authority to provide financial advice, the following Authorised Bodies are authorised by that licence to provide financial advice:

• Insurance People Limited (FSP28285) trading as Insurance People
• Insurance People (Fire and General) Limited (FSP237105) trading as Insurance People / Insurance People (Fire & General)
• MPIP Investments Limited (FSP1004613) trading as Insurance People / Investment People

Nature and scope of the advice

Insurance People, Insurance People (Fire & General) and Investment People provide advice to our clients about life & health insurance, Fire & General insurance and KiwiSaver respectively. Our financial advisers provide financial advice in relation to these financial advice products.

We only provide financial advice about products from certain providers:

• For life insurance, we work with 7 companies – AIA, Asteron, Chubb, Fidelity Life, Partners Life, PPS Mutual, Resolution Life.
• For health insurance, we work with 5 providers – Accuro, AIA, nib, Partners Life, Southern Cross.
• For Fire & General we work with 21 providers – AIG Insurance (inc. Club Marine), Allianz Insurance, AMP Insurance, Ando Insurance, Berkshire Hathaway, Chubb Insurance, Club Auto, Delta Underwriting Agency, Dual Underwriting, IUA, Mecon Insurance, Nautilus Marine, New India, NZI Insurance (inc. Lumley Insurance), Protecsure, QBE Insurance, Rosser Underwriting, TLC, UAA, Vero Insurance, Zurich Insurance. We may use other specialist insurers on a case-by-case basis, if so, additional disclosure will be provided.
• For KiwiSaver we work with 5 providers – Fisher Funds, Milford Asset Management, Generate, Booster, Pathfinder.

In providing you with financial advice, we will only consider existing life, total & permanent disability, trauma, income protection, mortgage protection, health, and personal accident insurance policies, and KiwiSaver schemes. Our advice does not include wider investment advice, tax advice, legal advice, estate planning or financial planning services. If you require advice in those areas, you will need to consult a specialist.

Duties information

Insurance People, Insurance People (Fire & General), Investment People and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.

We are required to:

• give priority to your interests by taking all reasonable steps to make sure our advice isn't materially influenced by our own interests
• exercise care, diligence, and skill in providing you with advice
• meet standards of competence, knowledge and skill 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 Financial Markets Authority website at https://www.fma.govt.nz.

Fees & expenses

For Life and Health advice, Insurance People does not charge fees, expenses or any other amount for any financial advice provided to its clients.

For Fire and General advice, Insurance People (Fire & General) charge a standard fee for the placement of fire and general insurance following advice provided to a client, these are disclosed before providing the advice; for especially large or complex cases a different fee structure may be negotiated with a client, this would be agreed before any advice will be given or cover placed.

For KiwiSaver advice, Investment People does not charge fees, expenses or any other amount for any financial advice provided to its clients.

Conflicts of interest and incentives

For life insurance and health insurance advice, Insurance People and the financial adviser receive commissions from the insurance companies on whose policies we give advice. If you decide to take out insurance, the insurer will pay a commission to Insurance People and your financial adviser. The amount of the commission is based on the amount of the premium and will be disclosed before any cover is placed.

For KiwiSaver advice, Investment People and the financial adviser may receive upfront and/or ongoing commission from the relevant KiwiSaver provider. Ongoing commission is generally based on the funds under management linked to your KiwiSaver membership and is usually calculated as a percentage of your KiwiSaver balance. The applicable commission rate or how it is calculated will be disclosed before you proceed.

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 training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme is undertaken annually by a reputable compliance adviser.

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. 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 annual training about how to manage conflicts of interest. We maintain registers of conflicts of interests, and the gifts and incentives we receive. MPIP Group Limited monitors these registers and provides additional training where necessary. MPIP Group Limited performs an annual review of our compliance programme.

Complaints handling and dispute resolution

Once we receive a complaint, we follow an internal procedure to ensure we address the issue. Our Process will:

• Acknowledge your complaint within 2 working days
• Inform you how we will address the complaint
• Gather any information that will help us resolve the complaint
• Aim to resolve the complaint within 20 days

If we are unable to promptly resolve your complaint it will be referred to a Director who will investigate the issues further.

Alternatively, you can contact our Managing Director directly:

Telephone: (09) 360 5620 | Email: feedback@peoplegroup.co.nz

Address: PO Box 47218, Ponsonby, Auckland 1144

If you are not satisfied with our response, you have the right to refer your complaint to Financial Services Complaints Limited (FSCL) – A Financial Ombudsman Service. FSCL is an independent dispute resolution scheme approved by the Minister of Consumer Affairs and will help you to resolve your complaint. There is no cost to you to use the services of FSCL.

FSCL can be contacted on:

Telephone: 0800 347 257 | Email: info@fscl.org.nz

Address: PO Box 5967, Lambton Quay, Wellington 6011