To access Brokerage based Insurance General products such as – Domestic and Business covers e.g. buildings, contents, vehicles, etc., SIBL is engaged as an authorised body, Neil Carter and Graeme Hansen are directly by Insurance Advisernet New Zealand Limited (IANZ). IANZ holds Transitional Financial Adviser Provider License. The link will take you to their website to show the range of providers and products they source for us.
We only provide financial advice about products from certain providers – General Insurance through range of companies both domestic and International, the specific insurer will be detailed when the nature and scope of advice is known.
The nature of this relationship is that Stratus Insurance Brokers Ltd (SIBL) is an Approved Body that contracts to IANZ. We do not have position on the board. IANZ on-pays commission and fees received to SIBL, whilst retaining a portion of 8.5% of any income received for SFSL.
IANZ contracts providers, who then pay IANZ to on-pay SIBL where the relationship with the client is identified to be through SIBL. The amount each provider pays IANZ will depend on the specific financial provider and type of product. The link above to IANZ will disclosure the current amounts. The providers may pay IANZ between 5% to 25% of the annual premium in first and any following years, this is then passed on to Stratus less the cut. Fees for administration our outlined in the link and may be between $20 and $100, any fee greater is notified individually.
IANZ and SIBL may receive payments from product providers and financial platforms providers for the amount for business we place with them.
IANZ may receive funding from suppliers to market and contribute at periodic conferences.