Public Disclosure Statement.

Who we are

Craig Smith Business Services Ltd, trading as Smiths Insurance and KiwiSaver, holds a Class 2 Financial Advice Provider licence issued by the Financial Markets Authority (FMA) of New Zealand. Our Financial Service Provider (FSP) number is FSP712931.

We trade under the names “Smiths Insurance and KiwiSaver” and “Smiths Insurance & KiwiSaver.” We have been operating in the New Zealand financial-services industry since 1984.

Our licence is subject to the standard conditions applying to all Class 2 Financial Advice Provider licences (covering record-keeping, internal complaints processes, business continuity, regulatory returns, outsourcing, professional indemnity, and ongoing capability). We comply with these standard conditions at all times.

Nature and scope of the advice we give

Smiths Insurance and KiwiSaver provides financial advice about:

• Personal risk insurance. life, disability/income protection, trauma, TPD, mortgage protection
• Health insurance
• KiwiSaver and managed funds (advised by our principal, Craig Smith)

We refer Fire & General enquiries (home, contents, car and similar) to AON Insurance Brokers. We only provide financial advice about products from the providers we hold agencies with:

• Life & Disability: AIA, Asteron Life, Fidelity Life, Partners Life, Chubb Life, Pinnacle Life
• Health: AIA, NIB, Partners Life, Southern Cross
• KiwiSaver: ANZ, Booster, Fisher Funds, Generate, Milford

Because our KiwiSaver advice is limited to these five schemes, it is not whole-of-market — we tell you which schemes we can and can’t advise on before we give advice. Within that panel, the scope of each agency differs:

• ANZ: we hold an agency for comparison and for servicing existing members. We do not currently recommend switching into ANZ schemes.
• Fisher Funds and Generate: included for comparison and for servicing existing members.
• Milford and Booster: our current switch recommendations land on four funds across these two providers.

Who gives the advice

Advice is provided by Financial Advisers engaged by Craig Smith Business Services Ltd. Each adviser is listed on the Financial Service Providers Register and meets the FMA Code of Professional Conduct for Financial Advice Services standards of competence, ethical behaviour, and continuing professional development.

See our team page for current advisers and qualifications.

Fees, and how we’re paid

Smiths Insurance and KiwiSaver does not charge fees for advice. We are paid commission for business completed, so you are not charged a fee whether or not any business is placed. The free KiwiSaver Health Check and our advice cost you nothing.

Insurance: insurers pay us a commission based on the annual premium (API) of any policy you take out, plus an ongoing trail commission each year based on the annual premium. The trail amount varies from company to company.

KiwiSaver: Booster, Generate and Fisher Funds pay us an up-front payment when a member joins one of those schemes through us. This is a fixed dollar amount per member, and we confirm the exact amount to you in writing before your switch is lodged. We also receive an ongoing trail commission from the provider you join, based on the size of your fund, which ranges from 0.25% to 0.5% of the value of the fund per year. Both payments are made by the provider and do not change the fees you pay or reduce your account. Many of our reviews end with a recommendation to stay where you are.

Conflicts of interest and incentives

We receive commission from the insurers and KiwiSaver schemes whose products we advise on (listed above). To make sure our advisers prioritise your interests, we follow an advice process based on each client’s goals and circumstances, all advisers complete annual conflicts-of-interest training, and we have an independent compliance adviser audit our compliance programme each year.

We do not manufacture our own insurance policies or KiwiSaver funds. From time to time providers may offer social events or gifts as a thank you for business placed. We keep a gift register at our office; any single item valued over $150 is recorded and is available on request. Where a provider relationship could be perceived as influencing our advice, we disclose it at the point of recommendation.

Our duties

When giving financial advice, we are required by law to:

• Meet the standards of competence, knowledge, and skill set out in the Code of Conduct.
• Give priority to your interests by taking all reasonable steps to ensure our advice isn’t materially influenced by our own interests.
• Exercise care, diligence, and skill in providing advice.
• Disclose the information required by the Financial Markets Conduct Act 2013, in plain English.

Reliability history

Neither Craig Smith Business Services Ltd nor any of our financial advisers has been subject to a reliability event. A reliability event is something that might materially influence your decision to seek advice from us — for example, a legal proceeding, disciplinary action by a regulator, or an insolvency. If that position changes, we will update this statement.

If something goes wrong. complaints

If you have a concern, please contact us first. see our Complaints page for the full process.

If you can’t resolve the matter directly with us, Smiths Insurance and KiwiSaver is a member of the Financial Dispute Resolution Service (FDRS), an FMA-approved external dispute-resolution scheme. The FDRS provides a free, independent service and can be reached at fdrs.org.nz, enquiries@fdrs.org.nz, or by post at Freepost 231075, PO Box 2272, Wellington 6140. There is no cost to you to use the FDRS service.

How to contact us

Office: Powell Fenwick House, Level 2, 383 Colombo Street, Sydenham, Christchurch
Phone: 03 374 6800
Mobile: 0274 293 939
Email: craig@smiths.net.nz

This statement is published in plain English to satisfy the disclosure obligations under the Financial Markets Conduct Act 2013 and the Code of Professional Conduct for Financial Advice Services. A copy is available on request without charge.