Co-operative Insurance Based Products

To access Term Life, Disability, Health, Illness, Medical, Whole of life, Endowment and AMP General Agency – Domestic and Business covers e.g. buildings, contents, vehicles, etc., our advisers are directly engaged by Wealthpoint Limited (WPL). WPL 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 – Life, disability and Income insurances through 6 companies AIA (Sovereign), AMP Life, Asteron, Fidelity Life, Foundation Life and Partners Life. Health Insurance through 5 companies Accuro, AIA, nib, Partners Life and Southern Cross. General Insurance through AMP General. Investments through Nikko Asset Management Goals Getter, Wealthview platform, Consilium platform, these will be detailed in a written report as they can contain a mix of up to 30 funds from a range of 200. In the Superannuation and KiwiSaver range through AMP, ANZ, ASB, Booster, Fisher Funds & Fisher Funds 2, Milford, Nikko AM and One Path KiwiSaver.

The nature of this relationship is that Stratus Financial Services (SFSL) owns a share in (WPL), as part of a co-operative. We do not have position on the board but sometimes contribute to working groups that develop services and policy. WPL on-pays commission and fees received to SFSL, whilst retaining a portion of 2.5% to 8% of any income received for SFSL. WPL may pay SFSL rebates from the income cut, on a periodic basis.

WPL contracts providers, who then pay WPL to on-pay SFSL where the relationship with the client is identified to be through SFSL. The amount each provider pays WPL will depend on the specific financial provider and type of product. The link above to WPL will disclosure the current amounts.

The range of Commissions will vary between the product type, provider and terms agreed to, the range from 5% to 230% in the first year of a contract and 2% to 27% in following years of a contract. Stratus recommends level terms for new Insurance contracts (when they are available) which limits the first income to a range of 5% to 30% in the first year and following years. Southern Cross pays $135 per annum per person for renewals. They may not be available on some types of product or increase on existing contracts.

WPL and SFSL may receive payments from product providers and financial platforms providers for the amount for business we place with them.

WPL may receive funding from suppliers to market and contribute at periodic conferences.