This document complies with the disclosure requirements under the Securities Markets Act 1988 and sets out the disclosure required to be made in relation to your financial/insurance adviser.

The following are details, which are deemed to be relevant about Peter Maynard’s role as a financial/insurance adviser and about Affordable Health and Life Ltd.

In 1997 Peter Maynard founded Affordable Health and Life Ltd. Peter Maynard is the founder of the company, Managing Director and sole individual shareholder.

 

Peter Maynard has been providing insurance advice in various forms since 1997.  He became a full time insurance broker in 1997 when he set up his own company. Peter Maynard has the following relevant qualifications:

Peter Maynard is a member of Life Brokers Association.

In accordance with industry standards, and for your protection, Affordable Health and Life Ltd and Peter Maynard are covered under a professional indemnity insurance policy.  This policy provides insurance cover against breach of professional duty by Affordable Health and Life Ltd and/or Peter Maynard. 

Any potential complaints are best directed to Peter Maynardat Affordable Health and Life Ltd in the first instance. They can be contacted on (03) 543 6590  at any time during normal business hours (8.30 am to 5.00 pm) or, PO Box 20-002, Bishopdale, Christchurch 8543.

Affordable Health and Life Ltd gives advice in relation to the following types of products:[2]

-           Life cover

-           Accidental death cover

-           Disability income protection

-           Trauma cover

-           Living insurance

-           Business overheads cover

-           Mortgage protection insurance

-           Major medical insurance

-           Key person protection insurance

-           Medical insurance

-           Finance company debentures & capital notes

-           Superannuation and KiwiSaver

-           Combined risk and savings

-           Tax paid investment bonds

-           Bank accounts and term deposits

-           Cash management funds

-           Unit trusts

-           Group investment funds

-           Property purchasing

-           Syndicated property

-           Venture capital opportunities

-           Investment into private companies

-           Mortgages

 

Affordable Health and Life Ltd may place investments with almost any investment provider. When it comes to risk management products, superannuation funds and insurance bonds, Affordable Health and Life Ltd needs to have a detailed agency agreement in order to place business. Affordable Health and Life Ltd  has agency agreements for the sale of these products with the following suppliers:

-           American International Assurance Company (Bermuda) Limited (AIA New Zealand)

-           AMP Life Limited

-           Asteron Life Limited

-           AXA New Zealand

-           Fidelity Life Assurance Company Limited

-           ING Life Limited

-           Sovereign Assurance Limited

-           Tower Health & Life Limited

Other investment products will have the normal supplier intermediary relationship that does not entail a detailed agency agreement to be signed. Appendix A to this document lists those companies.

We do not run a trust account and we do not hold any money for clients.

The following system and procedure is used for receiving client funds:

·       The investment management service is provided via an independent custodian, which holds investments collectively on behalf of the client.

·       All money that is to be invested (payable via cheque or direct bank transfers) is payable directly to the custodian of the wrap service as applicable.

·       Neither Affordable Health and Life Ltd nor Peter Maynard in any circumstances uses clients’ money or property for the benefit of any other person or ourselves. This applies to monies that are to be invested.

 

The records Affordable Health and Life Ltd keeps that relate to the investment of money are:[3]

a.     A photocopy of the completed cheque and application form which is kept in the client’s personal file.

b.     The details of the investment are entered on to our portfolio reporting system immediately after an investment is made.

c.     We manually update the client’s personal file with details of the investment.

d.     During normal working hours, all clients have access to their personal file should they wish to check the accuracy of the information contained therein.

Affordable Health and Life Limited is eligible to receive commissions, bonuses, rebates and non monetary payments from product providers in relation to the sale of products and the use of Wrap services. Please note that Affordable Health and Life Limited will often provide discounts on the commission it receives, particularly if the sum being invested is substantial. The discount reflects the sum of money being invested and the fact that this sum obviously brings economies of scale in Affordable Health and Life Limited’s time, effort and procedures.

Affordable Health and Life Ltd  is owned by:

Affordable Health and Life Ltd  has entered into a Licence Agreement with ING (NZ) Limited that enables it to promote the master trust, Private Portfolio Service. Affordable Health and Life Ltd is not a representative or agent of ING (NZ) Limited. Affordable Health and Life Ltd is independently owned and operated.

The Licence Agreement requires that 55% (by value) of managed fund business needs to be placed in Private Portfolio Service (PPS) or other ING-managed or administered funds. However, there is no requirement for my company to place a percentage of each individual client’s fund in PPS or other ING-managed or administered funds. Affordable Health and Life Ltd  has the freedom to create a portfolio and select funds/investments for each individual client.

My business address, telephone and fax numbers are as set out above.

1.       In accordance with the Securities Markets Act 1988, I hereby certify that in the preceding five years neither I nor any principal officer of Affordable Health and Life Ltd has been:

a.  Convicted of an offence under the Securities Act 1978, the Securities Markets Act 1988 or the Investment Advisers (Disclosure) Act 1996, or of a crime involving dishonesty (as defined in Section 2(1) of the Crimes Act 1961)

b.  A director or principal officer of a company that committed an offence under any of the Acts listed above or an offence involving dishonesty as defined above

c.  Adjudicated bankrupt

d.  Prohibited by law from taking part in the management of a company or a business

e.  The subject of an adverse finding by a court in any proceeding taken against me in my capacity as an investment adviser, or

f.  Expelled from or have been prohibited from being a member of a professional body

 

2.       I also certify that  Affordable Health and Life Ltd  has not been placed in statutory management or receivership in the preceding five years.

We declare that this document when completed and signed, complies with all the requirements of the Securities Markets Act 1988.

 

Yours sincerely

 

 

 

 

___________________ 

 

Appendices: A. Investment product maximum commissions

 

 

I, ………………………………………. acknowledge receipt of the Disclosure statement for Peter Maynard.

 

 

 

Signed: ………………………………………………. Date: ……………………….