Disclosure Statement

LICENSING INFORMATION

Discovery Bay Services Limited (FSP 722932) holds a licence issued by the Financial Markets Authority to provide financial advice. Arthur Prinsen (FSP 373526) is authorised by that licence to provide financial advice.

Arthur is a financial adviser who runs a licensed financial adviser business called Discovery Bay Services Limited (FSP 722932),

Arthur gives advice on personal, health and key person insurance.

NATURE AND SCOPE OF THE ADVICE

Discovery Bay Services provides financial advice to our clients about their life insurance, health insurance, permanent disability, trauma cover, income cover, mortgage cover, ACC and KiwiSaver.

We only provide financial advice about products from certain providers:

For life insurance, health insurance, permanent disability, trauma cover, income cover, mortgage cover, we work with 7 providers  
AIA
Fidelity Life
Nib
Asteron Life
Chubb Life
Partners Life
For health insurance, we work with 4 providers
AIA
Southern Cross
Nib
Partners Life
AMP
For KiwiSaver, we work with 1 provider – Generate
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.

COMPLAINTS HANDLING AND DISPUTE RESOLUTION

If you are not satisfied with our financial advice service you can make a complaint by emailing [email protected], Calling 021 741013 or writing to us at 21 Hallberry Road, Papatoe Auckland 2024.
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 Financial Disputes Resolution Scheme.
Financial Disputes Resolution Scheme 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.

FEES OR EXPENSE

Discover Bay Services does not charge fees, expenses or any other amount for any financial advice provided to its clients

Discovery Bay Services may charge a fee for the financial advice provided to a client where a client cancels a life or health insurance policy within two years of inception. Whether a fee will be charged and the manner in which it will be charged will be advised when the advice is provided to the client.

This fee will be payable by the client by the 20th of the month after the policy is cancelled.

CONFLICTS OF INTEREST AND INCENTIVES

For life insurance and health insurance, Arthur Prinsen receives commissions from the insurance companies on whose policies we give advice. If you decide to take out insurance, the insurer will pay a commission to Discovery Bay Services and your financial adviser. The amount of the commission is based on the amount of the premium.

The amount of commission is based on the amount of the premium or the KiwiSaver balance.
To ensure that our financial advisers prioritise the client’s interests above their own, we follow an advice process that ensures our recommendations are made on the basis of the 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. Discovery Bay Services monitors these registers and performs an annual review of our compliance programme.

DUTIES INFORMATION

Discovery Bay Services, 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.

Discovery Bay Services, 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.

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 .
You can contact
Financial Disputes Resolution Scheme:
Email: [email protected],
Phone: 0508 337 337
Post: Freepost 231075, PO Box 2272, Wellington 6140
Online complaint: click on this link

Testimonials

  • Arthur is an incredible guy: his mission is to do his customers right. He'll go above and beyond to ensure you get the cover you need. You'd be amazed at what he can do to help out, even if you've already taken out a policy with another provider

    Ben Male

  • The person to call for your insurance and claims professional and caring

    Rajesh Chandan

  • Kay and I would like to extend our heartfelt thanks to you for your efforts with Kay's recent early life pay-out. We realise the "behind the scenes" works that is involved in a claim such as thins, and from our perspective you made the process fast and painless for us!

    Greg Longstaff

  • Just thought I would let you know I’m now 30 days post procedure for my varicose veins! Thanks for going in to bat for me and making sure I got the cover I needed based on the circumstances.
    My legs and I will be forever grateful.

    Jason Tidswell

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