What Does A Mortgage Advisor Do?

Our Financial Advice Provider is a member of NZ Financial Services Group Limited.

Licensing Information

Our Financial Advice Provider is authorised to provide a financial advice service under a current financial advice provider license issued by the Financial Markets Authority in the name of: NZ Financial Services Group Limited FSPR Number: 286965 

Nature and Scope of our Advice

The information below will help you understand what type of advice we can provide to you.

• We can help you choose and apply for a loan that is suitable for your purpose from a panel of lenders shown below.
• Once we have chosen a lender and loan terms that are suitable for you, We will help you to obtain an approval.
• We may also be able to help you maintain your loan, for example assisting you with re-fixing your loan. 

Banks and Lenders we use

We source loans from a panel of lenders. The current lenders we can use are:

Products we can advise on

The types of financial products we can give advice on are:

• Home Loans
• Investment Loans
• Construction Loans

What else we can help you with

We can help you with other services through our referral partners to make it easier for you. However we are not able to give advice on the products they offer and we have not checked to see if they can meet your specific needs. You are free to use other providers of your choice or undertake your own research.

• Tower - F&G
• Asset Finance
• Koura Wealth
• UK Pension Transfers
• XE Money

We are unable to offer legal or tax advice and recommend you consult your solicitor or accountant for this type of advice. 

Fees and Expenses

Generally, we don’t charge you any fee for the advice and transactional solutions that we provide to you. This is possible because, on settlement of a mortgage, we usually receive commission from the applicable product provider as described above. There are two exemptions to this general position which are explained below.

One-off fees

We may charge you a one-off fee in the following situations:

[a] There’s no commission: If you request that we provide financial advice and we do not receive a commission from the lender, we may charge you a one-off fee. Any such fee would be agreed and authorised by you in writing before we complete the services, and would be based on an estimate of the time spent providing the advice. 

This may arise in the rare event that you request that we provide services in relation to either a product that is offered by a provider that we do not hold an accreditation with, or a product that is outside our usual arrangements with our product providers.

[b] Commission has to be repaid: If you make certain changes to your loan, the lender can require me to repay to them the commission we received for your loan - this is called a ‘clawback’ and can be up to 100% of the commission. If this occurs, we may charge you a one-off fee. Set out below are the circumstances in which this would apply and the fee that would be charged to you.

Commission payments or referral fees can be paid in different ways:

• Paid in full to a financial adviser.
• Shared between two or more financial advisers.
• Paid to an employer who then pays a financial adviser a salary.
• Paid in full to a financial adviser’s company, from which the financial adviser takes drawings or profit share.
• Shared with a license holder to cover the costs of the services they provide.

We can provide you with more information to explain which option applies to me.

Occasionally we may receive incentives or rewards from lenders or referral partners. For example, lenders may provide us with gifts, tickets to events or other incentives.

We manage the conflicts of interest arising from these commission payments, referral fees or incentives by:

• Following an advice process that ensures we understand your needs and goals so that we always recommend the best loan for you regardless of the type and amount of commission or other payments we may receive.
• Ensuring the amount of any loan is in accordance with your identified needs.
• Providing you with tables showing commission rates and types by lender.
• Undertaking regular training on how to manage conflicts of interest. 

Conflicts of Interest

To ensure that we prioritise your interests above our own, we follow an advice process that ensures our recommendations are made on the basis of your individual goals and circumstances. We complete annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance program is undertaken annually by a reputable compliance advisor.

Please note that as a financial adviser from time to time we may refer you on to a third-party business such as ICIB Insurance, or Tidal Financial Services. Both mentioned insurance advisors remunerate us as an advisor for the referral by way of a payment of 20% - 25% of the annual insurance premium amount.

To mitigate this conflict ICIB Insurance, or Tidal Financial Services will conduct a full analysis of your individual needs and will tailor a plan to suit you and there is no obligation to take cover through them. 

Privacy policy & security

We will collect personal information about you in accordance with my Privacy Policy. We regard client confidentiality as of paramount importance. We will not disclose any confidential information obtained from or about you to any other person, except in accordance with my Privacy Policy. The electronic platform we use to store your personal information is secure and run on Amazon Web Services.

Our Privacy Policy outlines that we may share your personal information with NZ Financial Services Group Limited for audit purposes. This ensures that we deliver services in your best interests and comply with current regulations. If you disagree with this, please email team@nzfsg.co.nz and inform us, as we won’t be able to provide financial advice services to you.

Complaints Process

If you have a complaint about my financial advice or the service we gave you, you need to tell us about it. You can contact my internal complaints service by phoning us on 020 4049 0099, or emailing us at fiona@nzmortgageadvice.co.nz (Subject line: Complaint - Your Name). Please set out the nature of your complaint, and the resolution you are seeking. We aim to acknowledge receipt of this within 24 hours. We will then record your complaint in our Complaints Register and will work with you to resolve your complaint. We may want to meet with you to better understand your issues. We aim to provide an answer to you within 7 working days of receiving your complaint. If we cannot agree on a resolution you can refer your complaint to our external dispute resolution service. This service is independent and will cost you nothing and will assist us to resolve things with you. The name of this service and their contact details are:

Financial Services Complaints Limited (FSCL) - A Financial Ombudsman Service

Email: complaints@fscl.org.nz

Phone: 0800 347 257

Website: https://www.fscl.org.nz/

Postal Address: PO Box 5967 Wellington 6140

My Duties

We are bound by and support the duties set out in the Financial Markets Conduct Act 2013. These duties are to:

• Meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services (Code).
• Give priority to my client’s interests.
• Exercise care, diligence, and skill.
• Meet the standards of ethical behaviour, conduct, and client care set out in the Code.

Table 1 - Adviser fee (no commission)

The maximum percentage rates, or maximum fee charged for each lender is set out below. This fee is then paid to us by the lender, instead of a commission payment.

Table 2 - Adviser fee (plus commission)

The maximum percentage rates, or maximum fee charged for each lender is set out below. This fee may be paid to us by the lender, in addition to a commission payment.

Table 3 - Adviser commission

The maximum percentage and dollar rates for each lender is set out below. This commission payment is then paid to us by the lender.

Availability of Information

This information can be provided in hardcopy upon your request.