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Public Disclosure Statement

Licensing Information

NextWave Financial Services Limited (FSP1001259), trading as NextWave Financial Services Limited, is a Financial Advice Provider that holds a full licence issued by the Financial Markets Authority (FMA) to provide financial advice services.

Nature and Scope

NextWave Financial Services Limited is authorised to provide advice to our clients on the following financial products:

Personal & Business Insurance

  • Life insurance
  • Trauma insurance
  • Total & Permanent
  • Disability (TPD) insurance
  • Income protection
  • Mortgage & household expenses cover
  • Health/medical insurance
  • Key person protection
  • Shareholder protection
  • Debt Protection cover

Generalised KiwiSaver

Generalised advice is a non-personalised service where we help you determine your risk profile and recommend a KiwiSaver fund that matches your financial risk tolerance. We do not offer investment or retirement planning services.

If you would like personalised advice about your KiwiSaver, we can refer you to an investment specialist who can assist. 

Product Providers We Work With

We provide advice on products from a select panel of providers:

Life Insurance Providers

  • Partners Life
  • Fidelity Life
  • Chubb Life
  • Asteron Life
  • AIA

Health Insurance Providers

  • Partners Life
  • nib
  • AIA

KiwiSaver Providers

  • Generate
  • Milford Asset

We will consider any existing term life, trauma, income protection, and health insurance policies when giving advice. We do not provide advice on existing whole-of-life or endowment insurance policies.

Our Duties

NextWave Financial Services Limited has duties under the Financial Markets Conduct Act 2013 relating to how we provide advice. We are required to:

  • Give priority to your interests and ensure our advice is free from inappropriate influence
  • Exercise care, diligence, and skill
  • Meet all competence, knowledge, and skill standards set out in the Code of Professional Conduct for Financial Advice Services
  • Meet all ethical and client-care standards under the Code

How We Get Paid

NextWave Financial Services Limited is remunerated in the form of commissions paid by the insurance product providers.

Fees and Expenses

NextWave Financial Services Limited does not charge customers fees or any other expenses for the placement of Life and Health Insurance products.

How We Manage Conflicts of Interest

When we arrange insurance for you, the providers may pay us a commission. The amount of commission varies among product providers and is based on a percentage of the total premium payable for the insurance product purchased.

More details on the commission we receive will be provided at the time we give our advice. On occasion, an insurer may provide hospitality—such as morning tea, a Christmas hamper, or a meal. These gestures support strong working relationships, which help us liaise effectively between clients and insurers. These are not taken as incentives or in return for meeting sales targets.

  • We follow a proven 6-step advice process focused on your needs.
  • We have access to a range of product providers
  • If we recommend replacing cover, we’ll provide a comparison of your current cover and the recommended cover, explaining the differences.
  • We maintain a conflicts of interest register and conduct annual staff training.
  • We complete internal and external reviews to ensure the advice process always prioritises the client’s best interests.

Complaints Process

If you are not satisfied with our financial advice service, you can make a complaint by:

Email: nextwave@nextwaveFS.co.nz
Phone Mark on 021 962 649 or Nick on 027 335 4689

What happens next

  1. We will acknowledge your complaint within 3 working days
  2. We may request further information.
  3. We aim to resolve or update all complaints within 28 working days. If more time is needed, we will notify you.
  4. We will contact you to explain the outcome and how we propose to resolve the matter.

External Dispute Resolution

If you feel your complaint has not been resolved to your satisfaction, you may refer it to our independent dispute resolution scheme.

Financial Dispute Resolution Service (FDRS)

FDRS provides a free, independent service to help resolve disputes.