At Abacus Group we understand the importance of providing professional advice and claim certainty. It is the quality of our advice that sets us apart.
Our specialist advice and exceptional service ensures our clients have protection and certainty.
The Abacus Group Mission Statement
Our offices are located in the Taranaki region in the town of New Plymouth. Abacus Group Limited prides itself on providing our clients the best advice and service tailored to their needs.
Our Values
Our values identify who we are and how we act.
We always ask the question: “Is this the right thing to do?”
We all matter
We are unique
Let us always look for improvement
Products
Speak to one of our specialists today about:
- Life Insurance
- Trauma Cover
- Health Insurance
- Total and Permanent Disability Insurance
- Income Protection Insurance
- Farmers Protection
- Business Insurance
Licensing Information
Abacus Group Limited – FSP93921
Richard Toon – FSP541066
Craig Nolly – FSP541086
Scott Crocker – FSP769125
Fees
We will not charge a fee for the financial advice that we provide to you.
Nature and Scope of our Advice
Our advisors will provide you with financial advice in relation to your personal and professional insurance. Our advisors only provide financial advice for the following insurance products:
| Life Insurance | Health Insurance |
| Trauma Insurance | Total & Permanent Disablement Insurance |
| Income Protection |
Our advisors only provide financial advice on the above products from the following providers:
| AIA New Zealand | Asteron Life | Cigna | Fidelity |
| Partners Life | NIB | Southern Cross |
An advice process will include providing you with financial advice on unmet insurance needs and existing cover unless you have indicated otherwise. It is important to note when cancelling existing policies and replacing them with a new policy, that you are likely to have conditions excluded from the new policy that are covered by your existing policies (aka: pre-existing conditions). However, the exclusion of your pre-existing condition(s) may be insignificant when compared with the better overall benefits of the new policy/policies. You will need to decide what is best for you based on your own personal circumstances.
Conflict of interest and incentives
Our advisors are paid a remuneration from Abacus Group Limited.
Abacus Group Limited receives commissions from the relevant insurance company if you take out insurance following advice. The commissions are between 30% and 200% of the first year’s premiums of your policy — the amount depends on which insurance company and which insurance policy chosen. Abacus Group Limited also receive a commission of between 5% and 20% of the premium for each year that the policy remains in force.
To ensure that our advisors prioritise your interests above their own, they follow an advice process that ensures recommendations are made on the basis of your individual goals and circumstances. Our advisors complete annual training about how to manage conflicts of interest. Our advisors also complete registers of conflicts of interests, and any gifts and/or incentives they receive. Abacus Group Limited monitors these registers and provides additional training where necessary. Abacus Group Limited also performs an annual review of our compliance programme, which includes review of the management of conflict of interest.
Complaints Handling and Dispute Resolution
Abacus Group Limited company culture positively advocates the value of complaints. Effective handling of complaints directly impacts the company’s reputation and administration.
If you are not satisfied with our financial advice service please submit your complaint via:
- Email: admin@abacusgroup.co.nz
- Telephone: 06 759 0111.
- Postal Address: Abacus Group Limited, P O Box 22 New Plymouth 4340
- Website: www.abacusgroup.co.nz
Our complaints handling and dispute policy is available on our website www.abacusgroup.co.nz
In the event we can’t resolve the complaint, or you aren’t satisfied with the outcome and or way we propose to do so you can contact the Insurance & Financial Services Ombudsman. This service is independent and free of charge and will help investigate and/or resolve any matters that are not resolved using our internal complaints process.
You can contact the Insurance & Financial Services Ombudsman at:
- Physical Address: Level 8, Shamrock House, 79-81 Molesworth Street, Wellington 6011
- Postal Address: PO Box 10-845, Wellington 6143
- Freephone: 0800 888 202
Email: info@ifso.org.nz
Duties Information
Abacus Group Limited, 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.
We are required to:
- 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.