Public Disclosure Statement

Our license to practice

Vive Financial Services Limited (FSP761391, trading as Vive Financial Advisers) holds a license issued by the Financial Markets Authority to provide financial advice.

Our nature and scope of financial advice

Vive Financial Advisers provides advice to our clients about:

  • Personal insurance
  • Life
  • Medical/Health
  • Critical illness/Trauma
  • Income & Mortgage protection
  • Total and permanent disablement
  • Kids cover
  • Level Premiums
  • Business insurance
  • Business Income Protection
  • Key person cover
  • Shareholder protection
  • Debt protection
  • Employer group schemes
  • ACC Cover Plus Extra for self-employed
  • KiwiSaver

Our product providers

Advisers at Vive Financial Advisers provide Financial Advice about products from certain providers.

Personal and Business insurance

  • Accuro
  • AIA
  • Asteron Life
  • Fidelity Life
  • NIB
  • Partners Life

KiwiSaver

  • Generate

Fees, expenses and amounts payable for our financial services

Personal & Business Insurance

Vive Financial Advisers may charge a fee (in good faith) for the financial advice provided if a client cancels a Personal Insurance or Business Insurance policy within two years of inception. See ‘Nature and scope of financial advice’ section above to see what Personal & Business Insurance advice entails.

The amount payable will be calculated as follows:

The lower of:

  • $1,500 + GST -> hourly fee of $150 + GST x 10 hours of work.
  •  OR
  •   Annual Premium x [1 - (number of months since the policies inception / 24)]

Vive Financial Services will invoice this fee and it will be payable on the 20th of the month following the cancellation of ther policies. Details of how to make payment will be included on the invoice.

Vive Financial Advisers may also charge a fee in good faith for the financial advice provided for either, or, or a combination of: Personal Insurance, Business Insurance and ACC Cover Plus Extra where a commission is not payable from our product providers. This will be:

  • communicated clearly to the client before any scope of services are agreed on (will be outlined in our ‘Terms of Engagement’);
  • The charge rate will be $150 + GST per hour;
  • Vive Financial Advisers will invoice this fee and it will be payable on the 20th of the month following implementation. Details of how to make payment will be included on the invoice.

Kiwisaver

Vive Financial Advisers do not charge fees, expenses or other amounts for any Kiwisaver advice provided to its clients.

Conflicts of interest and incentives Part 1:

  • How we get paid

Personal & Business Insurances

For Personal & Business insurances (see ‘nature and scope of advice’ above), Vive Financial Advisers and the financial adviser will receive commission from the insurance companies with whom we arrange insurance with. The amount of commission received is based on the amount of annual premiums.

Vive Financial Advisers and the financial adviser will also get paid on-going servicing commission from the insurance provider as long as the policy is in-force.

KiwiSaver

For KiwiSaver, Vive Financial Advisers and the financial adviser will receive commission from the KiwiSaver provider with whom we arrange KiwiSaver with. The amount of commission receieved is based on the balance of the KiwiSaver.

Vive Financial Advisers and the financial adviser will also get paid on-going servicing commission from the KiwiSaver provider as long as the KiwiSaver account is open.

Conflicts of interest and incentives Part 2:

  • Mortgages/ Home Loan Advice
  • General Insurance (House, Car, Contents) Advice
  • Other conflicts of interest and incentives

Mortgage/ Home Loan Advice

Vive Financial Advisers do not provide mortgage/ home loan advice as part of our service offering, howeever, we are able to refer you to a Mortgage Adviser.

Vive Financial Advisers may receieve a referral fee from the Mortgage Adviser that is calculated based on the value of the loan.

We also receive referrals from Mortgage Advisers and will pay them a referral fee. If you have been referred to us from a Mortgage Adviser we will discuss any conflicts of interest that may arise beforehand so you can make an informed decision.

General Insurance (House, Car and Contents)

Vive Financial Advisers do not provide general insurance as part of our service offering, however, we are able to refer you to a specialised general insurance broker.

They are the only general insurance product provider that Vive Financial Advisers works with. In place of an upfront fee, Vive Financial Advisers is paid a commission by the recommended insurance provider from the premium they charge you for your cover.

Other conflicts of interest or incentives

Some product providers may subsidise training, technology solutions and compliance costs for Vive Financial Advisers.

Conflicts of interest and incentives Part 3:

  • How we manage conflicts of interest and incentives

How we manage conflicts of interest and 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 undertake a compliance audit, and a review of our compliance programme is undertaken annually by a reputable compliance adviser.

Our duties

Vive Financial Advisers, 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

Complaints handling and disputes resolution

If you are not satisfied with our financial advice service in any way, you can make a complaint by emailing complaints@vivenz.co.nz , or by calling us on 021 150 2327 . You can also write to us at Level 2, 2 Osterley Way, Manukau:

When we receive a complaint, we will consider it following our internal complaints process:

  • We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.
  • We aim to resolve complaints within 10 working days of receiving them. If we can't we will contact you within that time to let you know we need more time to consider your complaint, and will aim to provide you with a realistic timeframe.
  • We will contact you by phone or email to let you know whether we can resolve your complaint, and how we propose to do so.

If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact our external dispute resolutions scheme Financial Services Complaints Limited (FSCL).

FSCL provides a free, independent dispute resolutions service that may help investigate or resolve your complaint, if we haven’t been able to resolve your complaint to your satisfaction.

You can contact FSCL by emailing complaints@fscl.co.nz or by calling 0800 347 257. You can also write to them at PO Box 5967, Wellington 6145.

Website: www.fscl.org.nz

Reliability history

A reliability event is something that may materially influence your decision on seeking advice from Vive Financial Advisers or our advisers . Some examples of reliability events:

  • legal proceedings against Vive Financial Advisers or their adviser/s
  • If Vive Financial Advisers or their adviser/s have been bankrupt in the last four years.

Neither Vive Financial Advisers nor any of our advisers have been subject to a reliability event.

Contact Details

Vive Financial Services Limited (FSP761391, trading as Vive Financial Advisers).

You can contact us at:

Vive Financial Advisers - Head Office

Phone: 021 150 2327
Email: info@vivenz.co.nz
Address: Level 2, 2 Osterley Way, Manukau 2014