Important Disclosure Info

Financial Advice Provider Disclosure Statement

This Disclosure Statement was prepared on:
30th June 2022

Full License Holder effective 30/06/2022:
Maurice Trapp Group Limited

Financial Services Provider Register Number:
FSP107344

Address:
Level 2, 14 Jervois Road, Ponsonby, Auckland 1011
PO Box 56004, Dominion Road, Auckland 1443

Phone Number:
09 630 5884

Trading Names:
Maurice Trapp Group Limited
Momentum
Maurice Trapp Group Union Plus Ltd
Group Plus Ltd
Lewis Limited
Cooney Insurance
KSL Insurance Ltd
Financial Design Group Limited
Nextwave Financial Services Ltd

Email Address: info@mauricetrapp.com

About Us

Maurice Trapp Group Limited (MTGL) is a limited liability company that holds agency and contractual agreements with insurance companies and product providers and owns ongoing rights to contractual income streams, enters into commercial agreements for the provision/receipt of professional business services and employs administrative and support staff. MTGL holds a license issued by the Financial Markets Authority (FMA) to provide ﬁnancial advice.

Our Network

Maurice Trapp Group Auckland (Head Ofﬁce)
Maurice Trapp Group Tauranga
Maurice Trapp Group Hamilton
Cooney Insurance Cambridge
Momentum Whanganui
Lewis Limited/Group Health Solutions/MTG Employee Beneﬁts Napier
Maurice Trapp Group Union Plus Ltd
KSL Insurance Limited Christchurch
Group Plus Limited
Nextwave Financial Services Ltd

Nature and Scope of our Advice

MTGL provides advice to our clients about life & health insurance and KiwiSaver. Our ﬁnancial advisers provide ﬁnancial advice in relation to these ﬁnancial advice products.

We only provide ﬁnancial advice about products from certain providers:

For life insurances we work with ﬁve companies – AIA, Asteron Life, Chubb, Fidelity Life and Partners Life.

For health insurance we work with six companies – Accuro, AIA, Partners Life, nib, Southern Cross and UniMed.

For KiwiSaver we work with six companies – Generate, NZ Funds, Booster, Fisher Funds, Milford Asset Management

In providing you with ﬁnancial advice, we will only consider existing term life, trauma, income protection and health insurance policies (if any). We will not provide advice on existing Whole of Life or Endowment products so you will need to consult a specialist if you would like advice on those products.

Duties Information

MTGL 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.

Fees and Expenses

We are remunerated by a percentage of commissions or ﬁxed fee from Insurance and KiwiSaver Providers. We also receive a percentage of trail commissions earned on renewed Risk policies and ﬁxed fee on KiwiSaver.

We do not have any performance quotas with any insurance companies or product providers.

How our remuneration may vary

All income is received by MTGL and may vary for many reasons, including overall new business levels generated, market/consumer conﬁdence or satisfaction, amendments to commission terms and structures by product providers or other parties, impact of competition or economic conditions on existing clients/business levels. MTGL has no preferential terms (other than those readily offered to other market participants) or production performance agreements with any particular provider.

MTGL does not charge fees, expenses or any such amount for the ﬁnancial advice provided by our Advisers to our clients.

Conﬂicts of Interest that may arise

MTGL receives commissions from the providers on whose products our Advisers give ﬁnancial advice. This commission is split between the business and the Adviser. These commissions vary from provider to provider. If you decide to take out insurance or take our KiwiSaver advice, the commissions paid will be determined by the amount of premium or the KiwiSaver balance.

From time to time, product providers may also reward us for the overall business we provide to them. They may give us tickets to sports events, hampers, or other 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 maintain registers of conﬂicts of interests, and the gifts and incentives we receive. MTGL monitors these registers and provides additional training where necessary.

MTGL performs an annual review of our compliance programme.

This page is signed by:

Brent Wright, Director
Maurice Trapp, Chairman