Disclosure statement

This information will help you to choose a financial adviser that best suits your needs. It will also provide some useful information about the financial adviser that you choose.

I am a licensed Financial Adviser (FSP1002398), authorised under a Full Financial Advice Provider (Redemption Life Limited, FSP1008514) license and qualified with the New Zealand Certificate in Financial Services (Level 5). This means I meet the highest standards of competence, professionalism, and ethics required to provide financial advice tailored to your unique needs. My role is to help you understand your options, then provide financial advice and recommend solutions that best fit your circumstances.

Name of financial adviser

Jack Tan

Address

4 Whetu Place, Rosedale, Auckland 0632

Telephone number

020 4197 1212

Email address

jack@redemptionlife.co.nz

I am a licensed financial adviser under the Financial Markets Conduct Act 2013. I am authorised to provide advice on personal risk insurance and investment products, including:

• Life Insurance
• Income/ Mortgage Protection Insurance
• Redundancy Cover
• Trauma Insurance (Critical Illness)
• Total and Permanent Disability (TPD) Insurance
• Health Insurance
• Business Risk Insurance (share purchase/business succession, security debt and personal guarantees)
• KiwiSaver (Including Employee Benefit Programs: primarily group KiwiSaver products provided through employers to staff members - (Group KiwiSaver Schemes)
• Managed Fund
• Employee Benefit Programs: primarily group insurance products provided through employers for staff members of group insurance schemes

Redemption Life does NOT provide advice on General Insurance product lines, i.e. house, contents, vehicles and liability policies)

There have been no professional indemnity insurance claims or disciplinary actions.

All remuneration arrangements will be directly negotiated with each prospective client prior to finalizing any engagement. Depending on the agreed Scope of Engagement, we may charge a combination of fees and commissions.

Fees

Clients may be required to pay fees directly to Redemption Life upon receiving an invoice for planning or consultation services. These fees are charged for professional expertise and advice, not for product placement or ‘brokering’, unless specifically requested by the client and mutually agreed upon with Redemption Life.

An estimate of fees for any engagement can be provided in advance and if necessary, a fixed price can be agreed upon prior to the commencement of the engagement.

Payment Terms:

• Fees must be paid within seven (7) days of the invoice date via direct credit to the bank account of Redemption Life Limited.
• Cash or barter payments are NOT accepted.

At Redemption Life Limited, when implementing or ‘brokering’ a range of personal or business insurance products, our preference is to be compensated through brokerage or commission, as this eliminates any direct fees payable by the client. Commissions are paid to Redemption Life Limited by the insurance provider only upon successful placement of insurance products that meet the client’s needs and receive their approval.

We are committed to transparency and the gross amount of commission payable to Redemption Life Limited for any recommendation will be disclosed to the client prior to the implementation of any product or plan. Below is a general outline of the commission structure:

• Personal and Business Insurance Products: Typically, up to 240% of the first year’s premium, with ongoing commissions of 7.5% to 10% of the annual premium.
• Medical Insurance Products: Typically, between 20% and 30% of the first year’s premium.
• KiwiSaver Products: Upfront commissions of $50–$300 or up to 0.05% of the balance, with ongoing commissions typically between 0.20% to 0.50% of the annual fund value.
• Group Insurance Products: Typically, up to 20% of the annual premium, with ongoing commissions at the same rate for policy renewals.

In certain cases, Redemption Life Limited or the adviser may choose to receive a lower upfront commission in exchange for a higher ongoing commission, which can range between 5% and 30% annually.

To ensure that our clients’ interests are always prioritised, we follow a rigorous advice process tailored to each client’s individual goals and circumstances. Our team undergoes annual training to manage conflicts of interest effectively, participates in compliance audits and conducts peer reviews to ensure all recommendations are made in the clients’ best interest.

Additionally, Redemption Life Limited maintains detailed registers to monitor potential conflicts of interest, as well as any gifts or incentives received by the company or its staff. These registers are reviewed during our annual Adviser Business Statement process and where necessary, additional training is provided to uphold our commitment to ethical and client-focused practices.

At Redemption Life Limited, we collect personal information from you to deliver tailored advice that meets your specific needs. This typically includes details about your age, health, financial situation, and your instructions. In accordance with the Privacy Act 2020, you have the right to access any personal information we collect and hold about you, as well as to request corrections if necessary.

If you wish to obtain a copy of the information we hold, we will provide it at no cost to you. However, we retain original records for legal and compliance purposes until the relevant statutes of limitations for the advice provided have expired. All records are securely stored on our premises and within secure computer systems.

Access to client files is restricted to Redemption Life Limited staff, and any additional access is granted only as required by law or for the purpose of delivering specific advice in accordance with your instructions or the agreed Scope of Service and Engagement.

Parties who may access your information include:

• Insurers and product providers we are considering for your needs.
• Regulatory authorities and market regulators, as required by law.
• Professional compliance and audit assessors reviewing our adherence to compliance and professional standards.

We are committed to maintaining the confidentiality and security of your personal information and ensuring it is used solely for the purposes outlined above.

Additional Privacy Notice

We ensure that all required documents, instructions, consents, applications and other forms mandated by law or our professional obligations are promptly emailed to clients.

To maintain accountability and transparency, we utilise an advanced email tracking system. This system allows us to verify the delivery of emails, including the recipient’s address, the time the email was opened or read and it automatically generates read receipts. These read receipts are securely filed as part of our records to ensure compliance and provide a clear audit trail.

At Redemption Life, we maintain a strict commitment to independence and objectivity. We have no financial ties to any insurance company and no general conflicts of interest that would compromise our ability to form professional opinions or provide impartial financial advice.

We disclose that:

• There are no material conflicts of interest arising from incentives, as we do not engage in insurer-funded conferences, entertainment, sales campaigns, or similar activities.
• While we may accept occasional hospitality, such as a cup of coffee or a glass of wine from an insurance company representative, these gestures are immaterial and do not influence our professional judgment or create favouritism towards any insurer.

If a potential or actual conflict of interest arises during our engagement, we will promptly inform you and take appropriate steps to manage or avoid the conflict. If we cannot satisfactorily resolve the issue, we will withdraw from the Scope of Service and Engagement, while professionally assisting with the transition to a more suitable financial adviser.

Conflicted Remuneration Notice

• All fees and commissions earned are paid directly to Redemption Life.
• Redemption Life uses its gross revenue exclusively for operating a compliant, professional financial services business.
• Tax obligations are fully met on the net profit after expenses.

What a client pays in premium is not the same as what the Financial Adviser earns.

We uphold the highest standards of transparency and integrity in all client relationships.

If you have a problem, concern or complaint about any part of our service or product provider, please contact me so that I can try to fix the problem in the first instance. You can send an email on office@redemptionlife.co.nz

If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you may take the matter to the Financial Dispute Resolution Services (FDRS) of which we are a member.

This service will cost you nothing and will help us resolve any disagreements.

You can contact FDRS at:

Freephone

0508 337 337

International callers

+64 4 381 5047

Email

enquiries@fdrs.org.nz

Website

https://fdrs.org.nz

Post

Freepost 231075, PO Box 2272, Wellington 6140

Physical Address

Level 4, 142 Lambton Quay, Wellington Central, Wellington 6011

Please be advised that the product provider has an internal complaint handling process in place, which may be utilised if the issue in dispute pertains to a specific product. You may contact the relevant company directly to allow them the opportunity to resolve the matter as well.