What you need to know
This Financial Advice Provider (FAP) Disclosure Statement is important because it provides information about the financial advice services that we offer our members. It should help you decide whether to use our advisers and whether to follow their financial advice.
The Veterinary Professional Insurance Society (VPIS) holds a Transitional Financial Advice Provider (FAP) licence issued by the Financial Markets Authority (FMA) in accordance with the Financial Markets Conduct Act 2013 (FMCA) to provide financial advice services in New Zealand. This FAP disclosure is issued in accordance with the FMCA and its regulations.
Our Financial Service Provider Registration number is FSP231945.
Nature and scope of advice
Our external partners, Crombie Lockwood (NZ) Limited (FSP 39921), are authorised to provide advice about our insurance products, which include:
- Professional Indemnity insurance
- Public/ General Liability insurance
- Statutory Liability insurance
- Employers Liability insurance
Crombie Lockwood are licensed to provide advice on a broader range of products. Please refer to Crombie Lockwood’s Terms of business and disclosure for further information.
Fees, expenses and other amounts payable
There is no charge for the financial advice provided to our existing or prospective members.
Conflicts of interest
We pay an annual fixed fee to Crombie Lockwood for their services which include the provision of advice to members on our behalf.
Should a conflict of interest situation arise, we will manage it in accordance with our conflicts of interest policy, which all employees, contractors and representatives must comply with. This consists of processes for escalation, review, and management, including letting you know and working with you to resolve the situation where relevant.
Our financial advisers at Crombie Lockwood also undergo annual training about how to manage conflicts of interest.
VPIS maintains a register of conflicts of interests. We monitor this register and undertake an annual review of our compliance programme.
While carrying out our services to you, we will ensure that any person giving advice on our behalf:
- meets the standards of competence, knowledge and skill set out in the Code of Professional Conduct for Financial Advice Services;
- gives priority to your interests where there is a conflict by taking all reasonable steps to ensure our advice is not materially influenced;
- exercises care, diligence and skill in providing you advice;
- meets the standards of ethical behaviour, conduct and client care set out in the Code.
Complaints handling and disputes resolution
Our goal is to ensure you receive the highest level of quality service and support at all times. But if you do have a complaint or encounter a problem, please let us know as soon as you can. We are committed to sorting things out as quickly and as fairly as possible, and we assure you that we will do our best to address your complaint fairly and transparently.
Please refer to our complaints process and dispute resolution process for further details.