About us
Licence and contact details.
Full licence holder effective 30/06/2022Maurice Trapp Group Limited
AddressLevel 2, 14 Jervois Road, Ponsonby, Auckland 1011PO Box 56004, Dominion Road, Auckland 1443
Phone09 630 5884
Emailinfo@mauricetrapp.com
Trading namesMaurice Trapp Group Limited, Group Plus Ltd, Lewis Limited trading as Employee Lab, KSL Insurance Ltd, Financial Design Group Limited and NextWave Financial Services Ltd.
Maurice Trapp Group Limited is a limited liability company that holds agency and contractual agreements with insurance companies and product providers, owns ongoing rights to contractual income streams, enters commercial agreements for professional business services and employs administrative and support staff.
Nature and scope
Advice products and providers.
MTGL provides advice to clients about life and health insurance and KiwiSaver. Financial advisers provide financial advice in relation to these financial advice products.
- Life Insurance: AIA, Asteron, Booster, Resolution Life, Chubb, Fidelity, DPL and Partners Life.
- Health Insurance: Accuro, AIA, Partners Life, nib and Southern Cross.
- KiwiSaver: Generate, NZ Funds, Booster, Fisher Funds, Milford Asset Management and ANZ OneAnswer.
In providing financial advice, MTGL will only consider existing term life, trauma, income protection and health insurance policies, if any.
Duties information
How advice must be given.
MTGL and anyone who gives financial advice on its behalf have duties under the Financial Markets Conduct Act 2013 relating to the way advice is given.
- Give priority to client interests by taking reasonable steps to ensure advice is not materially influenced by MTGL’s own interests.
- Exercise care, diligence and skill in providing advice.
- Meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services.
- Meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services.
More information is available by contacting MTG or visiting the Financial Markets Authority website.
Fees and expenses
How MTG is remunerated.
MTG is remunerated by a percentage of commissions or fixed fees from insurance and KiwiSaver providers. MTG also receives a percentage of trail commissions earned on renewed risk policies and fixed fees on KiwiSaver.
MTG does not have performance quotas with insurance companies or product providers.
| Product | When first put in place | Ongoing annually |
|---|
| Life insurances | 100-220% | 0-10% |
| Medical / Health | 25-140% | 7.5-25% |
| KiwiSaver / Investment | A single payment of $50-300 | A percentage based on your balance |
Conflicts of interest
How conflicts are managed.
MTGL receives commissions from providers on whose products advisers give financial advice. Commissions vary from provider to provider and are split between the business and adviser.
From time to time, product providers may reward MTGL for overall business with tickets to events, hampers or other incentives. MTGL follows an advice process designed to ensure recommendations are made based on each client’s goals and circumstances.
Financial advisers undertake annual training on managing conflicts of interest. MTGL maintains registers of conflicts, gifts and incentives, monitors those registers and performs an annual review of its compliance programme.
This page is signed by Brent Wright, Director, and Maurice Trapp, Chairman.
