Licensing Information
Starlight Consultancy Limited (trading as Starlight Insurance) holds Financial Advice
Provider (FAP) licence issued by the Financial Markets Authority (FMA), effective
from 2nd December 2024, with registration number FSP1008648. We are regulated
by the Financial Markets Authority (FMA). For more details about our registration,
please visit this link.
Under the FAP licence, Starlight Consultancy Limited is authorised to provide
financial advice services under the Financial Advice Provider Class 2 License.
Nature and Scope of the Advice
Starlight Insurance’s Financial Advisers specialise in providing financial advice on health insurance, risk insurance, KiwiSaver, international student insurance and travel insurance. Our financial advisers also act as agents for AON to distribute their Stylecover fire and general insurance products. We do not provide market advice on fire and general insurance.
Through our financial advisers, we offer financial advice to our clients on:
Product Providers
Our Financial Advisers only provide financial advice about products from certain
product providers. These product providers are set out as below:
| Health & Risk Insurance | Provider |
|---|---|
| Life Insurance, Health Insurance, Trauma Insurance, Total & Permanent Disablement Insurance, Income/Mortgage and Income Protection Insurance, Key Person/Shareholder Protection Insurance, Group/Employee Insurance | AIA, Southern Cross, NIB, Partners Life, Chubb, Asteron Life |
| Fire & General Insurance | Provider |
| House Insurance, Contents Insurance, Landlord Protection Cover, Vehicle Insurance, Boat Insurance | AON – Stylecover |
| ACC Levy | Provider |
| ACC Product Review | ACC |
| KiwiSaver | Provider |
| Kiwisaver Retirement Scheme, Application/Transfer | Generate, Milford |
| Travel Insurance | Provider |
Visitor/International Student Insurance/Travelling Overseas/Parent Boost Insurance | Southern Cross Travel Insurance, Orbit Protect |
Fees and Expenses, or other Amounts Payable
Generally, we do not charge fees, expenses or any other amount for the financial advice provided to its clients. The FAP receives commissions based on the business you place with the providers we work with.
The total amount of commission the FAP receives is documented below:
| Type | Range |
|---|---|
| Risk and Health Insurance – Upfront (upon implementation) | 0-230% first year’s premium |
| Risk and Health Insurance – Ongoing | 0-25% subsequent year premium |
| KiwiSaver – Upfront fee | $0 – $250 |
| KiwiSaver – Ongoing (management fee) | 0–0.25% |
| Fire and General -– Ongoing | 15% total premium |
| Southern Cross Travel/International Student Insurance (one off) | 15% total premium |
| OrbitProtect International Student/Experience NZ policy/Working Holiday policy (one off) | 17% total premium |
| OrbitProtect Parent Boost Insurance (one off) | 12% total premium |
You may be charged a one-off fee in the following situations:
* A clawback is where a payment received from product providers for business placed, is reversed due to the policy being cancelled within a two-year period.
Conflicts of Interest and Commissions or Other Incentives
As a provider of professional financial adviser services, we have an obligation to act in the interests of our clients when making a recommendation. In providing advice to you, should any actual or potential conflict of interest arise, we undertake to bring any such conflict of interest to your notice so that you may assess our advice objectively.
Starlight Consultancy Limited (FSP1008648) will receive commission from the providers who provide Personal/Business Insurance, KiwiSaver and Fire & General Insurance. The commission is generally of an upfront nature but may also include a renewal or trail commission.
We manage the conflicts of interest by ensuring that we prioritise your interests above our own. The advice we provide is based on understanding your goals and circumstances and providing recommendations.
Our primary objective is to assist clients in safeguarding their health, income, assets, and liabilities to mitigate financial repercussions in adverse circumstances.
We do have some limitations or restrictions on the scope of the financial advice services we offer. In the event of any such limitations or restrictions, we will promptly disclose them to you.
How We Operate
To ensure that our financial advisers prioritise the client’s interests above their own, we follow an internationally recognised professional advice process to ensure our recommendations are made on the basis of the client’s goals and circumstances.
An adviser will meet with you to review your current financial situation and discuss your goals.
Using a range of independent research tools, we find the best providers and products for you.
We present our recommendations in a clear format so you can make an informed decision.
We assist you through every step of the implementation process and answer any questions you may have.
We will review your needs as often as you require to make sure you're always getting the most out of your plan.
If you need to make a claim, we are on hand to support you through the process.
Duties Information
Starlight Insurance 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:
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 FMA website here.
Complaints Handling and Dispute Resolution
If you have a problem, concern, or complaint about any part of our services, please contact us so we may address the issue.
You may contact the internal complaints scheme by telephoning (09)218 7487, by email at info@starlightinsure.co.nz or in writing to 9 Melrose Street, Newmarket, Auckland.
When we receive a complaint:
If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact Financial Services Complaints Limited (FSCL). This service will cost you nothing and will help us resolve any disagreements. You can contact FSCL at:
Physical Address: Level 4, 101 Lambton Quay, Wellington 6011
Postal Address: PO Box 5967, Wellington 6140
Telephone number: 0800 347 257
Email address: complaints@fscl.org.nz
Contact Details
