Insurance Towers

FAP Disclosure


 Newco Insurance Group Limited, trading as Insurance Towers is a Financial Advice Provider (FAP) licenced and regulated by the Financial Markets Authority to provide financial advice.

Our Financial Services Provider (FSP) number is 119945.

My name is Antony Plowman.  I am the sole adviser for Insurance Towers.

My FSP number is 18081.

I have two highly experienced staff members who assist me to provide great service to our clients.


You can contact us at:

Address: 57 Ranolf Street, P O Box 1940, Rotorua, 3040

Phone: 07 348 4098 (office) or 021 229 4212 (Antony’s mobile)




Areas I can provide you with advice

The following are the areas of personal or business risk and insurance advice that I can provide:

 Personal risk insurance needs arising from:

  • Untimely death (Life Insurance)
  • Suffering specified serious illness or disability (Trauma Insurance)
  • Suffering a permanent disability (Permanent Disability Insurance)
  • Loss of income through sickness or disability (Income/Mortgage Protection Insurance)
  • Needing timely hospital or specialist treatment (Health Insurance)

Business risk insurance needs arising from:

  • The loss of a key person through death or disability
  • Retirement of business debt and other liabilities caused by death or disability
  • Succession, partnership and share purchase needs caused by death or disability

I source insurance products from the following life insurance companies:

  • Asteron
  • Cigna
  • partnersLIFE

My advice process

  1. Establishing the areas of advice for the current engagement (Scope of Service and Engagement)
  2. Questioning and discussion about your needs and objectives (Needs Analysis)
  3. Further analysis and research by me and designing a solution to match your needs
  4. Preparing written recommendations for your consideration (Statement of Advice)
  5. Presenting my recommendations to you and implementing any agreed solutions
  6. Reviewing these solutions and strategies on a regular basis

My qualifications and experience

I hold the New Zealand Certificate in Financial Services (Level 5).  I have been providing financial advice for personal risk insurance for 25 years.  I undertake regular professional development to maintain and improve my competence and knowledge.

My duties and obligations to you

I have duties and obligations under the Financial Markets Conduct Act 2013 relating to the way I give advice.  I am required to:

  • Ensure you understand the nature and scope of service you ask me to provide
  • Provide a service and advice that is relevant to this scope of service and suitable to your circumstances and needs
  • Listen to your needs, concerns, preferences and to treat you fairly and with respect.
  • Act with integrity and give priority to your interests and give advice not influenced by my own interests
  • Exercise care diligence and skill in providing you with advice
  • Meet the necessary standards of competence, knowledge, and skill to provide you with the advice requested
  • Ensure you understand my advice and recommendations and any associated risks
  • Keep you informed along the way and communicate in a timely, clear, and effective manner

This is only a summary of the duties that I have.  More information is available by visiting the Financial Markets Authority website at:

How I get paid

Fees and expenses: Insurance Towers does not charge fees, expenses or any other amount for the financial advice provided to you.  You will not be billed or asked to pay any fees to us at any time even if the engagement of services or the products placed through this engagement are terminated by either party.

I am paid in the form of commission by the insurance provider through which we place business.  This is paid to my company, Insurance Towers.  The amount of commission is based on the premium you pay.  Typically, we will receive an up-front commission of between 100% and 200% of annual premium you pay and then an ongoing commission of between 5% and 20% of the annual premium you pay.  More specific detail is provided at the time our advice is given.

Conflicts of interest

To ensure that we prioritise your interests above our own, we follow an advice process that ensures our recommendations are based on your objectives, needs and circumstances.  I further manage possible conflicts of interest by:

  • Avoiding any production requirements for one product provider
  • Having access to a number of product providers
  • Using third party research as part of our analysis (if required)

Complaints and disputes

If you are not satisfied with our service or financial advice, please tell us as soon as possible so that we can try and resolve this for you to the best of our ability.  That it is our intention to provide the best possible service we can for our clients and we will do our best to try and resolve any complaint received as quickly and effectively as possible.  You can make a complaint by calling 07 348 4098 or emailing  You can also write to us at P O Box 1940, Rotorua 3040.

We will follow our internal complaints process:

  • We will consider your complaint and let you know how we intend to resolve it
  • Where possible, we try to resolve your complaint immediately
  • If we are unable to resolve your complaint immediately, we will acknowledge your complaint within two business days, we may contact you to get further information about your complaint
  • We aim to resolve complaints within 10 working days of receiving them. If we need more time to investigate your complaint, we will let you know when you can expect to receive a response to your complaint
  • We will contact you by phone, email or letter to let you know whether we can resolve your complaint and how we propose to do so

If we cannot agree on how to fix the issue, or if you decide not to use our internal complaints scheme, you can contact our external disputes resolution scheme, Insurance & Financial Services Ombudsman (IFSO).  They provide a free and independent dispute resolution service that may help to investigate or resolve your complaint if we haven’t been able to do so to your satisfaction.

Phone: 0800 888 202


Write to: P O Box 10845, Wellington, 6143