Conflicts of Interest & Incentives
For life and health insurance, Lighthouse Wealth receives commissions from the insurance companies on whose policies we advise. If you decide to take out insurance, the insurer will pay a commission to Lighthouse Wealth. The amount of the commission is based on the amount of the premium.
For KiwiSaver, Lighthouse Wealth receives either an upfront commission or an ongoing trail (depending on the KiwiSaver provider) if you decide to open or transfer your KiwiSaver to that specific provider. The amount of the commission or trail is dependent on the balance of your KiwiSaver and salary.
As an employee of Lighthouse Wealth, our Financial Advisers may refer you to Lighthouse Mortgages and/or Lighthouse Accounting, where we have referral arrangements or the directors are shared across the companies or partners outside of Lighthouse Mortgages and Lighthouse Accounting that we have referral arrangements with.
We will always act in your best interests first and disclose all associated referral fees, commissions, conflicts of interest or potential conflicts of interest where appropriate.
If you purchase a property off the back of an introduction from a Lighthouse adviser, Lighthouse will receive a flat agent’s fee from the developer for a successful referral. The referral fee is not an added cost to the property. It is not dependent on the value of the property you purchase, meaning there is no conflict for an adviser to recommend a property with a higher purchase price.
To ensure that our Financial Advisers prioritise the client’s interests above their own, we follow an advice process that ensures our recommendations are made based on the client’s goals and circumstances. All our Financial Advisers undergo annual training to help manage conflicts of interest. We undertake a compliance audit and an annual review of our compliance programme by a reputable compliance adviser.
If you decide to purchase a property off the back of an introduction by a Lighthouse adviser, Lighthouse will receive a flat agents fee from the developer for any successful referral. The referral fee is not an added cost to the property. It is not dependent on the value of the property you purchase, meaning there is no conflict for an adviser to recommend a property with a higher purchase price.
From time to time, Lighthouse Wealth may receive certain non-monetary benefits from product providers. This could include but is not limited to; gratuities such as a bottle of wine at Christmas time, a free calendar, pen or book, the occasional luncheon, drinks after a briefing session, invitations to sporting events, subsidised professional development, discounted training courses or office supplies, etc.