Disclosure

Licensing Information

My Financial Advice Provider is authorised to provide a financial advice service under a current financial advice provider licence issued by the Financial Markets Authority in the name of: Mortgage and Insurance New Zealand Limited

FSPR Number: 733012

Nature and scope of advice

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

Services I provide

I will help you choose and apply for a loan that is suitable for your purpose from a panel of lenders (set out below). Once we have chosen a lender and loan terms that are suitable for you, I will help you to obtain an approval.

I will help you choose and apply for personal Insurance that is suitable for your purpose from a panel of Insurers (set out below). Once we have chosen an Insurer and products that are suitable for you, I will help you to obtain the insurance.

Banks and lenders I use

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

• ANZ
• Westpac
• BNZ
• ASB
• ASAP Finance Limited
• Avanti Finance
• Cressida Capital
• DBR
• First Mortgage Trust
• Heartland Bank
• Liberty Financial Limited
• Unity
• Pepper
• RESIMAC
• SBS Bank
• Select Home Loan
• Southern Cros
• Sovereign
• The Co-operative Bank
• Basecorp Finance
• Zip Business
• CFML

Insurers I use

I source insurance from a panel of Insurers. The current Insurers I can use are:

• Accuro Health Insurance
• AIA New Zealand Limited
• AMP Limited
• Asteron Life Limited
• Chubb Insurance NZ Limited
• Fidelity Life Assurance Company Limited
• nib NZ limited
• PartnersLife

Products I can help you with

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

• Home Loans
• Investment Loans
• Construction Loans
• Commercial Mortgages and Finance
• Personal and Vehicle Loans
• Professional Migrant and Trans-Tasman Mortgages
• Reverse Annuity / Equity Release
• Public and Professional Liability Covers
• Life Cover and Accidental Death Cover
• Disability Income Protection Cover
• Trauma Cover
• Total and Permanent Disability Cover
• Business Continuation and New to Business Insurance Covers
• Mortgage Protection Insurance Cover
• Medical and Health Insurance Cover
• Key Person Protection Insurance Cover
• Waiver of Premium Cover
• ACC – Cover Plus and Cover Plus Extra

What else I can offer

I can help you with other services through my referral partners set out below:

• Tower – F&G
• Asset Finance
• Koura Wealth
• UK Pension Transfers
• XE Money
• Booster KiwiSaver
• Generate KiwiSaver
• Blanket Insurance – Hollard Insurance Company Pty Ltd. Administration and claims handling by Ando Insurance Group Limited

I can also help you with KiwiSaver. Please let me know if this is of interest and I will provide you with information about the KiwiSaver providers I use and the extent to which I can help you.

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

Fees and expenses

Generally, I won’t charge you any fees for the financial advice I provide to you. This is possible because, on settlement of a loan, I usually receive commission from the lender [which is explained in the commission section of this Disclosure Guide]. Any exceptions to this general position are explained below.

If these exceptions apply to you, I will let you know.

One-off fees

I may charge you a one-off fee if the following occurs:

(a)     When I don’t receive commission from the lender: If you request that I provide financial advice and I do not receive a commission from the lender, I may charge you a one-off fee. Any such fee would be agreed and authorised by you in writing before I 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 I provide services in relation to either a product that is offered by a lender that I do not hold an accreditation with, or a product that is outside my usual arrangements with my approved lenders.

(b)     When I have to repay commission to the lender: In the event that, in the 28 month period following drawdown of your loan, your loan is fully or partially repaid or the terms materially changed, and a lender requires that I repay the applicable commission to them, we may charge you a one-off fee. Any such fee would be no more than $3,000 (plus GST, if any) and would be calculated based on a rate of $250 (plus GST, if any) per hour of my time spent providing financial advice to you in connection with the applicable loan. The fee I charge you will not exceed the amount of commission I have to repay to the lender.

You will be invoiced for any one-off fee and will be given 30 days to make payment.

Other fees

Mortgage and Insurance New Zealand Limited can charge you the client/applicant a fee of up to $250 to cover the costs of arranging a finance pre-approval should you the client/applicant not proceed and settle with the pre-approval within 6 months; withhold information affecting the application; not proceed with our pre-approval due to engaging the services of another financial adviser/lender directly prior to, during or after the process of pre-approved finance.

This $250 fee will be invoiced to you with the requirement to make payment within 30 days.

This $250 fee may be rebated back to you at a future stage if a loan is settled through Mortgage and Insurance New Zealand Limited.

Commissions & incentives

On settlement of a loan, I usually receive a commission payment from the applicable lender.

The commission is generally of an upfront commission payment, but I may also receive an ongoing trail commission payment. The upfront commission is calculated as a percentage of the loan at drawdown. A trail commission is calculated as a percentage of the loan outstanding at the relevant time I may also receive a fixed rate roll over fee from the applicable lender if I assist in refixing your loan.

The maximum percentage that each lender uses to calculate upfront and trail commissions, and the maximum fixed rate roll over fees (refix fees), are set out in the table below. If there are any variations to these percentages or other commission payments that may apply, specific to your loan application, I will disclose this to you as part of my advice process.

I may also receive a referral fee or commission payment if I refer you to our referral partners listed above. I will give you more information about how that referral fee or commission is calculated, before proceeding.

From time to time, I may receive incentives or rewards from lenders. For example, they may provide me with gifts, tickets to events or other incentives.

I manage the conflicts of interest arising from these commission payments by:

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

I may refer you to other service providers. I will receive a Commission as detailed below for referring you, if you open an account. This fee is paid to me by the service provider.  They may refer you to more specialised advice if required.

Conflicts of interest

Generally, Mortgage and Insurance New Zealand and Andre-Paul Stokes do not charge any fees and rely completely on the commissions paid by the various providers that it has arrangements with.

In some instances where the loan is more complex and as a result will take more time to complete then we will discuss any additional costs or charges before we commence your loan application.

Privacy policy & security

I will collect personal information about you in accordance with my Privacy Policy. I regard client confidentiality as of paramount importance. I 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 I use to store your personal information is secure and run-on Amazon Web Services.

Complaints Process

If you have a complaint about my financial advice or the service I gave you, you need to tell me about it. You can contact my internal complaints service by phoning, or emailing me using the heading Complaint – (Your Name). Please set out the nature of your complaint, and the resolution you are seeking. I aim to acknowledge receipt of this within 24 hours. I will then record your complaint in our Complaints Register and will work with you to resolve your complaint. I may want to meet with you to better understand your issues. I 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. Details of this service are:

Financial Services Complaints Limited

complaints@fscl.org.nz

0800 347 257

My duties

I am 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.