Who Are We?

 

At Lucid Advice Ltd, we are family owned and family first. We understand the delicate balance between safeguarding what matters most, and not breaking the bank. 

 

We strongly believe in finding YOUR Goldilocks cover - not too much, not too little, but just right. We will always work in your best interests and find the insurance solution which works best for you and your whānau.

 

 

License Information

 

Lucid Advice Ltd (FSP1009781 trading as Lucid Advice Ltd) holds a licence issued by the Financial Markets Authority. to provide financial advice.

 

Lucid Advice Ltd

jack@lucidadvice.co.nz / 029 201 3149

lindsay@lucidadvice.co.nz / 021 026 04646

 

69b Monarch Ave

Hillcrest

Auckland 0627

 

 

Nature and Scope of Engagement

 

At Lucid Advice Limited we provide advice to our clients about their life, disability and health insurances. We also provide business owners/clients with advice in regards to business insurances. 

 

Our financial advisers provide financial advice in relation to these financial advice products. We only provide financial advice about products from the following providers: 

• Partners Life 

• NIB

• Fidelity Life 

• Chubb Life 

• Asteron Life 

• AIA NZ

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Our financial advisers may also advise on products from other providers not listed above, but only where they need to do so to provide you with complete advice on products from the listed providers. This might be the case if, for example, they are giving you advice on replacing an existing product from another provider, or advice on topping up your existing insurance arrangements. Our financial advisers do not otherwise advise on products from providers other than those listed above.

 

In providing you with financial advice, we will only consider new and 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.

 

 

How We Operate

 

To ensure that our financial advisers prioritise the client’s interests above their own, we follow an internationally recognised professional six step advice process to ensure our recommendations are made on the basis of the client’s goals and circumstances.

 

Six step advice process: 

1. Getting to know you, your situation, financial goals and objectives

2. Gathering relevant data on your current situation 

3. Analysing data and assessing viable solutions

4. Providing recommendations 

5. Implementing recommendations 

6. Ongoing review

 

 

Conduct

 

Lucid Advice Ltd, 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.

 

 

Remuneration (What do our Services Cost?)

 

Lucid Advice Ltd does not charge fees, expenses or any other amount for the financial advice provided to its clients. We receive commissions based on the business you place with the providers we work with.

 

Commissions and other incentives:

Our approved product providers pay us a commission when you purchase a financial product (such as an insurance product) and on an ongoing annual basis. In some cases, our approved product providers may also pay an additional variable commission. During the advice process your financial adviser will inform you of all commissions payable and who will receive them. 

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Conflicts of Interest

 

We take any perceived or real conflicts of interest very seriously and have a dedicated policy for dealing with such issues whereby we avoid, disclose and/or manage any conflicts so that our client’s interests are placed first and foremost. 

 

At Lucid Advice Ltd, we undergo annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance program annually by a reputable compliance adviser.

 

During the advice process your financial adviser will inform you of any perceived or real conflicts of interest and outline how they will avoid or manage such conflicts. 

 

 

Complaints Handling and Dispute Resolution

 

If you are not satisfied with our financial advice service you can make a complaint by emailing lindsay@lucidadvice.co.nz, or by calling 029 201 3149.

 

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 the Insurance & Financial Services Ombudsman Scheme (IFSO). The IFSO provides a free, independent dispute resolution service that may help investigate or resolve your complaint, if we haven’t been able to resolve your complaint to your satisfaction. 

 

Contact details for the Insurance & Financial Services Ombudsman Scheme (IFSO): 

PO Box 10-845, Wellington, 6143, New Zealand 

Telephone: 04 499 7612 

Freephone: 0800 888 202 

Email: info@ifso.nz 

For more information on the IFSO and when they can help, please refer to www.ifso.nz

 

 

Privacy/Data Collection

 

To give our clients the very best advice we need to collect personal information about their financial circumstances. In the digital age that we live in, we take our responsibilities under the Privacy Act 2020 very seriously. Some key points: 

 

• We only collect information relevant to the nature and scope of the advice we are providing.

• The accuracy of this information to our advice is critical, this is where we need your help once collected we will protect any client information. 

• You can request any personal information or ask for it to be amended at any time. 

• We will only share information where it is necessary to do so in providing the agreed services provided. If this is not part of our normal business we would only consider this with your express consent to do so. However, there are some third parties you may not be aware of that we may need to share your information with such as:  

  • Financial Markets Authority (FMA) – the Regulator of financial services in New Zealand. 

  • External compliance agencies we may engage for quality assurance purposes. 

• We have policies and procedures for dealing with any data breaches ASAP. 

• Any information no longer needed will be destroyed securely. 

 

You can find out more by visiting our Privacy Policy at our website: lucidadvice.co.nz/privacypolicy

 

Ask us - We are here to help

 

We welcome any questions or queries you have in relation to this important information but more importantly, we look forward to working with you.