Licence status and conditions
Wayne Grayson and Associates Limited, FSP682971 trading as Wayne Grayson and Associates (Wayne Grayson and Associates Limited, we, our) holds a financial advice provider licence, issued by the Financial Markets Authority, to provide financial advice.
It is a condition of our licence that we, together with any person giving advice on our behalf, can only provide advice on general insurance products.
Nature and scope of financial advice service
We engage financial advisers to provide financial advice on general insurance products on our behalf.
These are policies that insure your personal or business assets or protect you or your business assets, liabilities and business income.
We are not able to provide advice on personal income protection or investment policies but are able to refer you to associates who are licensed to provide advice on such products.
We have access to most insurance markets in New Zealand (excluding direct Insurers) along with access to overseas markets as required.
A list of the types of general insurance we can provide financial advice on and the product providers who provide such insurance products can be found here https://waynegrayson.co.nz/business-insurance-brokers/, https://waynegrayson.co.nz/personal-insurance/, https://waynegrayson.co.nz/marine-insurance/.
Fees, expenses or other amounts payable
We may charge a fee for the advice given to you and for implementing that advice. If a fee is to be charged it will be based on the amount of work and time required to provide and implement our advice and will be shown on our invoice to you, payable on payment of your premium. The amount of any fee will be disclosed either at the time we know the scope and nature of the advice required or when we provide our advice to you.
Premium funding
Premium funding products enable you to pay the insurance premium over the term of your policy by instalments rather than as one amount. Premium funders charge interest and they take a power of attorney over your insurance policy, this means they have the ability to cancel your insurance policy if you fail to pay an instalment. If you 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 utilise the services of a particular premium funder. Commission will be paid to us directly from the premium funder.
Conflicts of interest and commissions or other incentives
Wayne Grayson and Associates [and our financial advisers] will receive commission from the insurance companies on whose policies we give advice. If you decide to take out a policy, the insurer will pay us commission based on the premium that you pay.
We are a member of Steadfast NZ Limited (Steadfast). Steadfast supplies technology platforms, management, marketing, professional, technical, and buying benefits and services to support us in providing our 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 instance the adviser would clearly disclose the conflict of interest to the clients and would refer one of these clients to another of our financial advisers for further advice and assistance.
We manage all conflicts of interest, ensuring our financial advisers prioritise your interests above their own, by following an advice process that ensures our recommendations are made on the basis of your needs and circumstances. All of our financial advisers complete training to understand and manage 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 programme annually.
Duties
Wayne Grayson and Associates Limited 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; and
- 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; and
- exercise care, diligence, and skill that a prudent person engaged in the occupation of giving related financial advice would in the same circumstances; and
- 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 he or she 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 as follows:
- Call us on 09 418 9269 between the hours of 8.30 am – 5.00 pm week days
- Email us at info@waynegrayson.co.nz
- Write to us at PO Box 56, Silverdale, 0944, addressing your letter to the attention of Craig Batty.
How your Complaint will be handled
Your adviser will attempt to resolve any issue of dissatisfaction with you immediately.
If the matter cannot be resolved to your satisfaction, the adviser will escalate the complaint to his or her manager, notifying you accordingly. We will send you an acknowledgement of your complaint within five working days of your complaint being notified to us. This letter will provide you with our timeline to respond to you and the name of the manager who will be managing our response. The manager will investigate and contact you to try to resolve the complaint to your satisfaction. It is important that you provide this person with all relevant information.
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 to you at that point, our letter will explain why we are not yet in a position to do so and tell you when we will next contact you.
40 working days after the receipt of your complaint we will issue a final resolution. If we need to continue our review past this point, we will explain to you the reason for the delay and the required timeframe to provide a full response. At this point, if you feel that the delay is unsatisfactory, you can redirect your complaint to our external dispute resolution service provider detailed below.
If we are unable to resolve your complaint
We expect that our response to you will have addressed the concerns you have raised. If you feel that your concerns have not been appropriately considered, we invite you to submit any further information for consideration.
If we are unable to resolve your complaint despite our best efforts, you can contact our external dispute resolution scheme, who provides a free and independent dispute resolution service.
The contact details for our external dispute resolution service provider are:
Insurance & Financial Services Ombudsman Scheme
PO Box 10152, Wellington, 6143
0800 802 602
info@ifso.co.nz
www.ifso.nz
Contact details
Wayne Grayson and Associates Limited FSP682971, trading as Wayne Grayson and Associates is the Financial Advice Provider. We can be contacted as follows:
PO Box 56, Silverdale, 0944
09 418 3269
info@waynegrayson.co.nz
Privacy Policy
We Collect personal information from you, including information about your:
- name
- contact information
- location
- computer or network
- interactions with us
- billing or purchase information
we collect your personal information in order to:
- Provide information to insurers, premium funders and other service providers
Besides our staff, we shar this information with:
- Provide information to insurers, premium funders and other service providers
Providing some information is optional. If you choose not to enter material information , we’ll be unable to place insurances and premium funding..
You have the right to ask for a copy of any personal information we hold about you, and to ask for it to be corrected if you think it is wrong. If you’d like to ask for a copy of your information, or to have it corrected, please contact us at craig@waynegrayson.co.nz, or 021 843 816, or PO 56, Silverdale, 0944.