Groupcare NZ Limited was founded in 1985 by two lifelong friends. Our team makeup may have changed over the years, but our focus has always been on our clients and our relationship with our clients.
We have a 3 pronged approach:
- Understand our clients
- Build trust and gain the confidence of our clients
- Customers are the heart of our business
By asking the right questions and listening carefully we help our clients identify and articulate what truly matters to them.
Our business is all about you – you and your family.
By managing the unexpected, you can enjoy your current lifestyle and protect your loved ones.
Contact us for more information about how we can help tailor an insurance package to your requirements and mitigate your risks – we are a phone call away.
Physical Location: 15a Norman Spencer Drive, Auckland 2104
Postal Address: P.O. Box 76248, Manukau City, Auckland 2241
Phone: 09 2790935
Groupcare NZ Limited (FSP35823) holds a transitional license issued by the Financial Markets Authority to provide financial advice.
Nature and scope of advice
Groupcare NZ Limited provides advice to our clients about their personal risk insurances including life insurance and health insurance.
Our financial advisers provide financial advice in relation to life insurance, trauma insurance, total & permanent disability insurance, income/mortgage protection insurance, funeral cover and health insurance. We only provide financial advice about products from certain providers:
- For life insurance, we work with six companies – AIA, AMP, Asteron Life, Cigna, Fidelity Life, and Partners Life.
For health insurance, we work with three providers – Accuro, AIA, NIB, Partners Life, and Southern Cross.
- We follow the six-step advice process:
Step 1: Getting to know you and understand your needs and requirements. Define expectations of what is needed from us.
Step 2: Obtain information from you about your current financial position.
Step 3: Analysing your information and evaluating alternatives for you.
Step 4: Developing your financial plan to you and presenting this to you.
Step 5: Implementing agreed recommendations from your financial plan.
Step 6: Monitoring recommendations. We do this by contacting you periodically to determine if there have been any changes to your financial situation, health, or other matters which could require a modification of your financial plan.
Fees and Expenses
Groupcare NZ Limited does not charge fees, expenses or any other amount for the financial advice provided to its clients. We do, however, receive a commission from insurers when you choose to take cover through them.
Conflicts of interest and incentives
Groupcare NZ Limited and our financial advisers receive commissions from the providers on whose products we give financial advice (the insurers). If you decide to take out insurance, the provider will pay a commission to Groupcare NZ Limited and to your financial adviser. The amount of commission is based on the amount of the premium.
From time to time, product providers may also reward us for the overall business we provide to them. They may give us small gifts (eg. Water bottles), access to seminars, or other incentives.
To ensure that our financial advisers prioritise the client’s interests above their own, we follow an advice process that ensures our recommendations are made on the basis of the 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. We monitor these registers and provide additional training to our team where necessary.
We perform an annual review of our compliance programme.
Complaints handling and dispute resolution
If you are not satisfied with our financial advice service you can make a complaint by emailing firstname.lastname@example.org or by calling: 09 2790935.
You can also write to us at P.O. Box 76248, Manukau City, Auckland 2241
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.
- 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 Financial Service Complaints Limited. This service will cost you nothing and will help us resolve any disagreements.
You can contact FSCL at:
Address: PO Box 5967, Lambton Quay, Wellington 6145
Telephone number: 0800 347257
Groupcare NZ Limited, 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.