Disclosure Information

 

LICENCING INFORMATION:

Tauranga Mortgage Brokers Limited (FSP616329) holds a licence issued by the Financial Markets Authority to provide financial advice.

NATURE AND SCOPE OF THE ADVICE:

Tauranga Mortgage Brokers Limited may provide advice to our clients about their mortgages, life, health or disability insurance. Our financial advisers provide financial advice in relation to these financial advice products.

We only provide financial advice about products from certain providers:

For mortgages, we work with the following lenders:

ANZ, AIA/Sovereign Home Loans, ASB, Avanti Finance, Basecorp, Bluestone, BNZ, Cooperative Bank, First Mortgage Trust, Pepper Money, SBS & Westpac.

For life, health and disability insurance, we work with the following insurers:

AIA (formerly AIA and Sovereign Assurance), Asteron Life, Cigna, Fidelity Life, nib & Partners Life.

In providing you with financial advice on your existing insurance cover, we will only consider your existing life, trauma, total permanent disability, income/mortgage protection and health insurance policies (if you have them). We will not provide advice on existing whole of life or endowment products, so you will need to consult a specialist investment adviser if you would like advice on those products.

We may, with your permission, refer your life, health and disability insurance review to Financial Independence (Tga) Limited, who will provide you with a disclosure information.

FEES OR EXPENSES:

Tauranga Mortgage Brokers Ltd charge a standard fee of $2,400 (Calculated at 20 hours at $120 per hour) for their work.  In most cases, Tauranga Mortgage Brokers Ltd will be remunerated by the Bank/Lender/Insurer by way of commission or fees. If Tauranga Mortgage Brokers Ltd receive commission or fees from the Bank/lender/insurance company, the above fee of $2,400 will be deferred for 2 years.

If the loan or insurance is still in force at the end of this 2 year period – and no part of the remuneration has been reversed by the Bank/Lender/Insurer - the full fee of $2,400 will be waived.

Note: This fee will not be charged if: a) Tauranga Mortgage Brokers Ltd is not successful in obtaining an appropriate loan offer or insurance offer of terms, or, b) you decide not to proceed with the purchase/refinance/transaction.

 

CONFLICTS OF INTEREST AND INCENTIVES:

For mortgages, Tauranga Mortgage Brokers and/or the financial adviser receive commissions from the lenders with whom we arrange mortgages. If you decide to take out the mortgage, the bank will pay a commission to us for our advice. The amount of the commission is based on the amount of the mortgage.

 

For life, disability and health insurance, Tauranga Mortgage Brokers Limited and/or 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 Tauranga Mortgage Brokers Limited and/or your financial adviser. The amount of the commission is based on the amount of the premium. 

If Tauranga Mortgage Brokers Limited refer your life, health and disability insurance review to Financial Independence (Tga) Limited - Tauranga Mortgage Brokers Limited will receive 30% of any commission that they earn from the insurance that they put in place for you. The responsibility of providing a statement of advice will be that of Financial Independence (Tga) Limited.

You can choose to have your review preformed by either Tauranga Mortgage Brokers Limited or referred to Financial Independence (Tga) Limited. 

This will be discussed with you before any referral is made.

To ensure that our financial advisers prioritise our clients’ interests above their own, we follow an advice process that ensures our recommendations are made on the basis of each client’s goals and circumstances. All our financial advisers undergo annual training about how to manage conflicts of interest. We undertake a compliance monitoring, and review our compliance programme at least annually by an internal compliance officer.

 

COMPLAINTS HANDLING AND DISPUTE RESOLUTION:

If you are not satisfied with our financial advice service you can make a complaint by emailing mortgage@tmbl.co.nz, or by calling: 07 552 6069. You can also write to us at: 25 Falcon Drive, Tauranga 3112.

 

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 our external Resolution Scheme:

Insurance & Financial Services Ombudsman Scheme (IFSO)

PO Box 10-845

Wellington 6143

NEW ZEALAND

 

Insurance & Financial Services Ombudsman Scheme 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 Insurance & Financial Services Ombudsman Scheme by emailing info@ifso.nz or by calling: 04 499 7612. You can also write to them at: PO Box 10-845, Wellington 6143, New Zealand.

 

DUTIES INFORMATION:

Tauranga Mortgage Brokers, 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 isn’t 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 behavior, 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  https://www.fma.govt.nz.

 

CONTACT DETAILS:

Tauranga Mortgage Brokers Limited (FSP616329) is the Financial Advice Provider.

You can contact us at:

Phone: 07 552 6069 or 022 066 3662

Email: mortgage@tmbl.co.nz

Address: 25 Falcon Drive, Tauranga, 3112, New Zealand