Parachute Insurance Advice Disclosure Information

Parachute Advisory Limited, FSP1004543, trading as Parachute Advisory Ltd is a Financial Advice Provider licensed and regulated by the Financial Markets Authority to provide financial advice. 

Nature and scope of the advice.Parachute Advisory Ltd provides advice to clients about life, health, and disability insurances to retail clients. The advice we provide from products of a range of providers. Find a list of providers on our website,

www.parachute-insurance.co.nz

Advice Fees

Parachute Advisory Ltd and our advisers do not charge clients fees for the financial advice we provide.

However, if you purchase a policy form an accredited provider and then cancel it within two years, we will on-charge you. The maximum amount will be determined by the described claw back clause as determined by the insurer and calculated as by time spent by the Parachute Advisory team.

Insurance Premiums

You will need to pay insurance premiums to your insurance provider, payable weekly, fortnightly, or monthly. The amount will be based on several factors, including the type of insurance, the extent of the coverage, pre-existing medical conditions, your age, and the length of time it covers plus the amount of your excess.

Advice Commissions

We are paid in the form of commission. We receive a commission from insurance providers through which we place business. The amount of the commission we receive depends on several factors. We will provide more specific details of these commissions once we have talked to you and understand your needs, at the time our advice is given. 

Best Client Outcome

To ensure our advisers prioritise our clients’ interests:

We follow an advice process that ensures our recommendations are made appropriately, based on clients’ goals and circumstances.
All our 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. These registers are monitored regularly, and additional training is provided as required.
We undertake an annual independent Compliance Assurance Reviews.

Complaints and Dispute Resolution

If you are not satisfied with our service or financial advice, please tell us first and as soon as possible.

Call:                    03 660 11 99

Email:                 office@parachute-insurance.co.nz

Write to:              Parachute Advisory Ltd, 12 Virginia Lane, Christchurch 8081

When we receive a complaint:
We will consider your complaint and let you know how we intend to resolve it. Where possible, we try to resolve your complaint immediately.
If we are unable to resolve your complaint immediately, we will acknowledge your complaint within 2 business days. We may contact you to get further information about your complaint.
We aim to resolve complaints within 10 working days of receiving them. If we need more time to investigate your complaint, we will let you know when you can expect to receive a response to your complaint.
We will contact you by phone, email, or letter to let you know whether we can resolve your complaint and how we propose to do so.

If we cannot agree on how to fix the issue, or if you decide not to use our internal complaints process, you can contact our external disputes resolution scheme, Financial Dispute Resolution Service. The Financial Dispute Resolution Service scheme is a free and independent dispute resolution service that may help to resolve your complaint if we haven’t been able to do so to your satisfaction. Please contact us first.

To contact the Financial Dispute Resolution Service scheme, www.fdrs.org.nz

Call:                 03 660 11 99

Email:              enquiries@fdrs.org.nz

Write to:           Freepost 03 660 11 99, PO Box 2272, Wellington 6140

Our Duties

Parachute Advisory Ltd and our advisers 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
- Exercise care, diligence, and skill
- Meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services
- Meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services

 Our Contact Details

Parachute Advisory Ltd (FSP03 660 11 99 Financial Advice Provider)

Call:                    03 660 11 99

Email:                 office@parachute-insurance.co.nz

Write to:              12 Virginia Lane, Christchurch 8081

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