Public Disclosure Important information about YG Financial Services Limited

Licence information

YG Financial Services Limited FSP705651, (trading as Your Generation Financial Services) holds a licence issued by the Financial Markets Authority to provide financial advice.

Our FAP contact details are:
Name of FAP: YG Financial Services Limited
Phone: Yang 027 432 1454
Address: A1, 17 Corinthian Drive, Albany, Auckland 0632

Nature and Scope of Engagement

YG Financial Services Limited provides advice to our clients about their KiwiSaver, risk insurance and health insurance.

Our financial advisers provide financial advice in relation to:

  • Risk insurance
  • Health insurance
  • Fire and General Insurance
  • International student insurance
  • Visitor to NZ Insurance
  • Pet Insurance
  • KiwiSaver

We refer businesses that are out of our scope. We have three referral partners - AON Commercial Team, SHARE and Curated Risk .

  • Business/Commercial Liability and asset insurance

Product Providers

We only provide financial advice about products from certain providers:

  • For life insurance, we work with five companies – AIA, Asteron Life, Chubb Life, Partners Life, Fidelity.
  • For health insurance, we work with five providers – AIA, Accuro Health, NIB, Southern Cross Health, Partners Life.
  • For KiwiSaver products – we provide appropriate advice on KiwiSaver products. We work with three providers – Generate, NZ Funds and Milford.
  • For Visitor and International Student insurances, we work with two providers – Southern Cross Travel and Orbit Protect
  • For Fire and General Insurance, we provide advice on AON Style cover, underwritten by Vero.
  • For Pet Insurance, we work with one company – Petcover NZ Limited Underwritten by Sovereign Insurance Australia (Pt Ltd) from 1st of January 2023.

In providing you with financial advice, we will consider new business and advice on existing policies.

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.

how we operate

Conduct Duties

YG Financial Services 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 is not 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

Remuneration (what do our services cost?)

The FAP receives commissions based on the business you place with the providers we work with. YG Financial Services Limited typically does not charge fees or expense, however if we do, further descriptions are listed below.

If fees are charged

For Risk and Health Insurance advice, YG Financial Services Limited may charge a fee, at their discretion, for the financial advice provided to our client. This fee will be calculated on the following basis: a base advice fee of between $500 – $2,000 (including GST), then $200 (including GST) per hour after the first 10 hours. This fee will be discussed further with the client when determining the Scope of the advice. The fee will be payable after the Statement of Advice has been provided to the client, by the client by the 20th of the month.

For Risk Insurances and Health, YG Financial Services Limited may charge a fee for the financial advice provided to a client where a client cancels a life or health insurance policy within two years of inception. Whether a fee will be charged and the manner in which it will be charged will be advised when the advice is provided to the client. This fee will be payable by the client by the 20th of the month after the policy is cancelled. This fee is also known as a clawback charge*.

The company reserves the right to waive this fee at their discretion if the client continues to use the company’s services to organise replacement finance.

* A clawback is where a payment received from product providers for business place, is reversed due to the policy being cancelled within a two-year period.

Conflicts of interest

We take any perceived or real conflicts of interest very seriously and have a dedicated policy for dealing with such issues whereby we avoid, disclose and/or manage any conflicts so that our client’s interests are placed first and foremost. 

For life insurance, health insurance fire and general, pet insurance, YG Financial Services Limited and the financial adviser receive commissions from the insurance companies on whose policies we give advice. If you decide to take out insurance, the insurer will pay a commission to YG Financial Services Limited and your financial adviser. The amount of the commission is based on the amount of the premium.

For KiwiSaver advice, YG Financial Services Limited and the financial adviser receive commissions from the provider on whose products we give advice on. If you decide to invest your KiwiSaver with the provider we recommend, the provider will pay a commission to YG Financial Services Limited and your financial adviser.  The amount of commission is based on the total amount of fund held in the portfolio.


Typically, we are remunerated by way of commissions received directly from product providers (example below).

As we get to know you and what is important, we will provide more specific information in relation to any remuneration we receive as a result of any advice we provide. In line with the spirit of professional disclosure below are some guidelines.

Risk and Health Insurance - Upfront (upon implementation)10-230% first year’s premium
Risk and Health Insurance - Ongoing5-20% subsequent year premium
KiwiSaver – Ongoing (management fee)1.18 – 1.49%
KiwiSaver – Upfront fee$40 - $120
Fire and General - Ongoing (upon implementation)15% total of monthly premium
International student and Visitor insurance – per policy17 - 20% total monthly premium
Pet Insurance – ongoing10% total of monthly premium
Referring Partners – Upon implementation and at each renewal year15% - 40% of referrer’s commission

Example: should you place insurances from our recommendations with an annualised premium of $1,000 p.a. we would be remunerated in the range of $500-2,300 in the first year and $200-$500 in subsequent years for providing our professional services.

All our financial advisers undergo annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme annually by a reputable compliance adviser.


From time to time, product providers may also reward us for the overall business we provide to them. They may give us but not limited to tickets to sports events, hampers, or other incentives.

Complaints handling and dispute resolution

If you are not satisfied with our financial advice service you can make a complaint by emailing YG Financial Services Limited or by calling: Yang at YG Financial Services 027 432 1454.

You can also write to us at:

YG Financial Services Ltd

Po Box 300214, Albany, Auckland 0752

When we receive a complaint, we will consider it following our internal complaints process:

We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.

We aim to resolve complaints within 10 working days of receiving them. If we can’t, we will contact you within that time to let you know we need more time to consider your complaint.

We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so. If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact Financial Dispute Resolution Service (FDRS) provides a free, independent dispute resolution service that may help investigate or resolve your complaint, if we haven’t been able to resolve your complaint to your satisfaction.

You can contact FDRS by emailing or by calling: 0508 337 337. You can also write to them at Financial Dispute Resolution Service. Po Box 2272, Wellington 6140

Privacy/Data Collection

To give our clients the very best advice we need to collect personal information about their financial circumstances. In the digital age that we live in, we take our responsibilities under the Privacy Act 2020 very seriously. Some key points:

  • We only collect information relevant to the nature and scope of the advice we are providing
    • The accuracy of this information to our advice is critical, this is where we need your help
  • Once collected we will protect any client information
  • You can request any personal information or ask for it to be amended at any time
  • We will only share information where it is necessary to do so in providing the agreed services provided. If this is not part of our normal business we would only consider this with your express consent to do so. However, there are some third parties you may not be aware of that we may need to share your information with such as:
    • Financial Markets Authority (FMA) – the Regulator of financial services in New Zealand
    • External compliance agencies we may engage for quality assurance purposes.
  • We have policies and procedures for dealing with any data breaches ASAP.
  • Any information no longer needed will be destroyed securely.

You can find out more by visiting our Privacy Policy at our website: YG Financial Services Ltd

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Contact Us

Physical Address: A1, 17 Corinthian Drive
Albany, Auckland 0632

Postal address: Po Box 300214,
Albany, Auckland 0752

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