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Disclosure Information

About Daly Advice

Daly Advice Limited (Daly Advice) is a Financial Advice Provider (FAP) licensed by the Financial Markets Authority (FMA) under the Financial Markets Conduct Act 2013 to provide financial advice services.

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Daly Advice is listed on the Financial Service Providers Register (FSPR), with the registration number FSP1011327. Further information can be found at the Financial Service Providers Register website.

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Our Director, David Lynch, is also listed on the FSPR as a Financial Adviser (FSP1001495).

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Our Advice Services

Daly Advice provides personalised financial advice that takes your individual circumstances, goals and needs into account. Our advice is designed to help you make informed decisions about protecting yourself, your family and your assets.

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We follow a structured advice process to understand what matters to you, identify risks, and recommend solutions that are appropriate for your situation. We will clearly explain the scope of advice we are providing and any limitations before proceeding.

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Under the conditions of our licence, Daly Advice provides advice in the following areas:

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  • Personal risk insurance (including life, health, trauma, income protection and medical insurance)

  • Investment advice, including KiwiSaver

 

If you need professional advice in any other area (legal, accounting, other areas of financial planning etc.), please speak to your adviser and we can refer you to an appropriately qualified specialist.

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Personal Risk and Medical Insurance

When providing personal risk and medical insurance advice, Daly Advice considers your personal circumstances to determine the type and level of cover that may be appropriate for you. This includes discussing your priorities, financial position, and the risks you wish to protect against. Based on this information, we recommend insurance solutions that align with your stated preferences and needs.

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Investments and KiwiSaver Advice

When providing investment and KiwiSaver advice, Daly Advice takes the time to understand your personal circumstances, financial goals, timeframes and, importantly, your tolerance for risk. This includes discussing what you are aiming to achieve, how long you plan to invest for, and how comfortable you are with market fluctuations. Using this information, we provide advice on investment and KiwiSaver options that are appropriate for your situation and aligned with your stated preferences and long-term objectives.

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Product Providers

Daly Advice works with a selected range of reputable insurance and investment providers. This means we do not consider every insurance or investment product available in the market. If there are any material limitations on the providers or products we can advise on, these will be explained to you as part of the advice process. These providers include:

  • AIA

  • Asteron Life

  • Chubb

  • Fidelity Life

  • NIB

  • Partners Life

  • Southern Cross

  • Booster

  • Kernel Wealth

 

We may recommend products from one or more of these providers as part of your financial advice.

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How We Are Paid

Daly Advice does not charge clients upfront fees for personal risk and medical insurance advice.

Instead, we receive a commission from the insurance and/or investment provider if you choose to proceed with a product we recommend. This commission may include an upfront commission and an ongoing servicing commission while we continue to act as your adviser. Initial commission typically ranges between 100% and 220% of the first year’s premium, while ongoing commission is generally between 5% and 30% of premiums each year the policy remains active.

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For KiwiSaver and investments, we're usually paid as a percentage of funds under management (FUM). These payments are typically between 0.25% and 0.5% of the funds under management. There may also be an upfront payment from the KiwiSaver or investment provider.​

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Where a fee is charged for investment advice, this will usually be calculated as a percentage of the funds under management. In some circumstances, an initial advice fee may also apply.

 

Any fees will be:

  • Discussed with you before advice is provided;

  • Agreed to by you; and

  • Clearly disclosed in writing in your Statement of Advice.

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The exact amount and structure of any commission will be disclosed to you at the time advice is provided. All commissions are paid to Daly Advice and form part of the business revenue used to operate and support the advice service.

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Conflicts of Interest

From time to time, product providers may offer hospitality or modest gifts (for example, attendance at industry events or small promotional items). Our priority is to act in your best interests, and some clients may consider that receiving commissions or gifts from product providers creates a potential conflict of interest. Daly Advice manages this by:

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  • Following a documented advice process focused on your needs and objectives

  • Recommending products based on suitability rather than commission levels

  • Being transparent about how we are paid

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Our Duties

Under the Financial Markets Conduct Act 2013, Daly Advice and our advisers are required to:

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  • Meet the competence, knowledge and skill standards set out in the Code of Professional Conduct for Financial Advice Services

  • Give priority to your interests and take reasonable steps to ensure advice is not materially influenced by our own interests

  • Exercise care, diligence and skill when providing financial advice

  • Meet standards of ethical behaviour, conduct and client care

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Reliability History

A reliability event is something that could reasonably influence your decision to seek advice from me or Daly Advice (for example, serious misconduct, legal proceedings, or bankruptcy).

 

Neither Daly Advice nor David Lynch have been subject to any reliability events.

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What If Something Goes Wrong?

We welcome feedback and take concerns seriously. If you have a complaint about our advice or service, we encourage you to contact us so we can try to resolve it promptly and fairly.

 

Our internal complaints process involves:

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  • Asking you to submit your complaint in writing to your adviser

  • Acknowledging receipt of your complaint within 2 working days

  • Investigating the matter by reviewing relevant information

  • Reaching a mutually agreeable resolution within 10 working days.

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In some cases, complaints might take longer than the above timeframes to process. We will keep you updated with renewed timeframes if this happens.

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Alternatively, complaints can be sent to our Director, David Lynch:

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If we are unable to resolve your concerns, you can contact Financial Services Complaints Limited (FSCL)—a free, independent dispute resolution service:

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