Disclosure Statement

Licensing Information

Stainton & Co. Limited (FSP 1010858) is a Financial Advice Provider (FAP). We operate as an Authorised Body under the FAP Licence held by Vanguard Financial Services Limited (FSP 7298735), which has been approved by the Financial Markets Authority (FMA).

There are no special licence conditions imposed.

Nature and Scope of the Advice

Stainton & Co. provides financial advice to clients in relation to general insurance products.

We do not provide advice on Life and Health Insurance, Investments, Kiwisaver, or Mortgages. If you require advice on those products, we can refer you to a specialist.

Stainton & Co. can provide financial advice on a variety of products from a wide range of New Zealand-based and overseas providers, including but not limited to the following:

Fees and How We Get Paid

Fees and Expenses

If you proceed with our financial advice and we arrange insurance for you, we may charge a fee. This will be based on the amount of work and time required and will be clearly shown on your invoice.

If you cancel your insurance part way through the period, we may retain some or all of this fee from any refund provided by the insurer. We may also charge a fee for adjustments to your insurance during the policy period, which will also be shown on your invoice.

Conflicts of Interest and Commissions or Other Incentives

Stainton & Co. may receive a commission from the insurance provider you place your policies with when you pay your invoice for insurance cover. We may also receive a commission if we refer you to a premium funder and you enter into a premium funding arrangement.

Stainton & Co. pays your financial adviser a salary, and may also pay bonuses. Stainton & Co. and your financial adviser may receive indirect benefits from insurers and premium funders such as business lunches, tickets to sporting or cultural events, or corporate promotional merchandise.

We recognise that these commissions and incentives could create conflicts of interest for Stainton & Co. and your financial adviser. To manage these conflicts, we follow an advice process that ensures our recommendations are based on your financial goals and circumstances. Stainton & Co. also undertakes compliance reviews, and our financial advisers undergo specialised training in this area. Vanguard, as our FAP licence holder, conducts an annual audit of our conflicts of interest compliance framework.

Premium Funding

Premium funding enables you to pay your insurance premium by instalments instead of a lump sum. Premium funding companies charge interest and take a power of attorney over your policy, which means they may cancel it if instalments are not paid.

If you enter into a premium funding arrangement, the premium funder may pay Stainton & Co. a commission as a percentage of the amount they fund. We will disclose this amount to you at the time.

Duties Information

Stainton & Co. and any person giving advice on their behalf, have duties under the Financial Markets Conduct Act 2013. These include duties to:

  • Give priority to your interests by taking reasonable steps to ensure our advice is not materially influenced by our own interests

  • Exercise care, diligence, and skill in providing advice

  • Meet the standards of competence, knowledge, and skill required by the Code of Professional Conduct for Financial Advice Services

  • Meet the standards of ethical behaviour, conduct, and client care required by the Code

These duties are designed to ensure you receive suitable and high-quality advice. More information is available by contacting us or visiting the FMA website.

Identifying Information

Stainton & Co. Limited (FSP 1010858)
Authorised Body under Vanguard Financial Services Limited FAP (FSP 7298735)

Contact details:

  • Phone: 021 070 6744

  • Email: fraser@staintonandco.nz

  • Address: Level 2, 110 Symonds Street, Auckland CBD 1010

Glossary

  • Authorised Body – an entity named on a financial advice provider’s licence that can provide the licensed service without needing its own licence. Authorised Bodies must register on the Financial Service Providers Register as a financial advice provider.

  • Financial Advice – a recommendation or an opinion about buying or selling financial advice products.

  • Financial Advice Provider (FAP) – a business or individual who provides a financial advice service.

  • Financial Advice Service – engages one or more individuals to give financial advice on their behalf or provides financial advice on their own account.

  • Financial Adviser – an individual registered on the Financial Service Providers Register to provide a financial advice service, who is not a financial advice provider.

  • Financial Markets Authority (FMA) – the New Zealand government agency responsible for enforcing securities, financial reporting, and company law as they apply to financial services and securities markets.

  • Financial Service Provider (FSP) – a person who provides or offers to provide a financial service (as per the FSP Act).

  • Financial Service Providers Register (FSPR) – a searchable register of people, businesses, and organisations that provide financial services in New Zealand. The register contains key information about FSPs including the financial services they provide, any relevant licences they hold, and the dispute resolution scheme they belong to.

  • Full Licence – held by a Financial Advice Provider and approved by the FMA.