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, ASB, Bluestone, BNZ, Cooperative Bank, First Mortgage Trust, Pepper Money, SBS, TSB & 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.
FEES OR EXPENSES:
For both mortgage & insurance advice, Tauranga Mortgage Brokers Limited may charge a fee for the financial advice provided if you cancel or repay your mortgage or cancel your insurance within two years of inception. The fee charged for the financial advice provided to you will generally be calculated on the following basis: $2,400 (including GST) or a portion thereof depending upon the length of time the mortgage or insurance was in force. While we are unable to provide you with an accurate calculation of the fee for advice at this time, we will confirm this with you our statement of advice. Any fee will be payable by you by the 20th of the month after the mortgage is cancelled or repaid within 2 years of inception.
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.
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 firstname.lastname@example.org, 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
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 email@example.com or by calling: 04 499 7612. You can also write to them at: PO Box 10-845, Wellington 6143, New Zealand.
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.
Tauranga Mortgage Brokers Limited (FSP616329) is the Financial Advice Provider.
You can contact us at:
Phone: 07 552 6069 or 022 066 3662
Address: 25 Falcon Drive, Tauranga, 3112, New Zealand