This Disclosure Guide outlines what you need to know about me, and the type of advice I am able to give you, so that you can make an informed decision on whether you wish to seek my advice and engage my services.
Licensing Information:
Kiwi Adviser Network (KAN) holds a Financial Advice Provider Licence issued by the Financial Markets Authority to provide financial advice services. KAN’s Financial Services Provider number is 763551.
Point Home Loans Ltd (FSP number 765132) is a member of KAN, and is authorised by their licence to give financial advice.
I, Janet Harris (FSP number 95425), am a Financial Adviser, and am authorised to give advice on behalf of Point Home Loans Ltd. My contact details are:
Address: Pt Chevalier Road, Point Chevalier, Auckland 1022 / PO Box 44371, Pt Chevalier, Auckland 1246
Phone: 021 990 173
Email: [email protected]
Nature & Scope of Financial Advice Service:
I can provide financial advice on Mortgage (Home Loan) products and Consumer Credit Contracts such as:
Home loans – Investment property loans – Construction/renovation loans – Top up loans – Debt consolidation loans – Car loans (Secured)
I can provide a financial advice service about loan products only from the following providers (also known as lenders):
Main banks: ANZ · ASB · BNZ · Westpac
Small banks: Heartland Bank · SBS · Sovereign Home Loans · The Co-Operative Bank
Non-bank lenders – long term lending: Avanti Finance · Liberty Financial · Resimac · Pepper Money
Non-bank lenders – short term lending: ASAP Finance · Avanti Finance · Basecorp Finance · Cressida Capital· First Mortgage Trust Plus Finance · Southern Cross Partners · DBR
Plus – Unity Credit Union (debt consolidation loans)
Fees & expenses for my service:
I generally do not charge you a fee for the financial advice I provide to you, or for implementing that advice, as I usually get paid a commission by the particular lender on settlement of a loan. This particularly applies to loans arranged with banks.
Certain non-bank lenders do not pay commission, so I charge a fee that will be payable on settlement date. All and any such fees will be clearly disclosed to you, and authorised by you in writing, before you commit to any such loan.
I may also charge you a one-off fee under certain circumstances, such as if you repay a home loan within 27 months of settlement date, as the lender will require Point Home Loans to repay some, or all, of the ‘upfront’ commission originally received. This is known as ‘commission clawback’.
Whether a fee will be charged, the amount and manner in which it will be charged and the date by which the fee is payable, will be advised when the financial advice service is provided to you.
Commissions & Conflicts of Interest:
Point Home Loans will receive commission from the lenders who provide home loan and personal loan products. If you choose to take out a home loan or personal loan, then the lender will pay commission based on the loan amount that is settled with that lender. Receiving payment for settlement of your loan from a provider I select for you, can present a conflict of interest.
I manage any conflict of interest, and ensure I prioritise my client’s best interests, by:
- Following a robust 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, and explaining to you why I have selected the particular lender and product.
- Ensuring the amount of any loan is in accordance with your identified needs.
- Undertaking regular training on how to manage conflicts of interest.
- Having an annual independent Compliance Assurance Review of my processes and advice.
Referrals:
I do not accept any referral fees or commission, if I refer you to any other service provider. This includes, but is not limited to, an insurance adviser, real estate agent, accountant, lawyer or building inspector. Accordingly, I only refer to those who I believe will give you the best advice and service, as I have used them myself, or another client has recommended them. Occasionally I will suggest service providers I have not used, but will also disclose how I came by them (eg Google search) and I will not accept any payments for referrals.
Similarly, I do not pay any referral fees or commissions if a client is referred to me.
My Duties and Obligations to you:
I am bound by the duties of the Financial Markets Conduct Act (431I, 431K, 431L and 431M) to:
- Meet the standards of competence, knowledge and skill set out in the Code of Conduct
- Give priority to the client’s best interests
- Exercise care, diligence and skill and
- Meet the standards of ethical behaviour, conduct and client care, set out in the Code of Conduct.
Internal Complaints Process:
If you have a problem, concern or complaint about any part of my advice or service, please tell me so that I can try to fix the problem. Contact my Internal complaints service by phoning me on 021 990 173, or email me at [email protected]. I will acknowledge your complaint as quickly as possible, and usually within 24 hours.
My internal complaints handling process is as follows:
- I will investigate your complaint by analysing the information available; I may need to contact you to obtain further information about your complaint
- I aim to resolve your complaint within 10 working days of receiving it. If I can’t, I will contact you within that time frame to let you know that I need more time to investigate your complaint.
- I will advise you in writing of my proposed resolution to your complaint.
If we cannot agree on how to fix the issue, or if you decide not to use my internal complaints service, you can contact my External disputes resolution service, Financial Services Complaints Ltd (FSCL). This service is independent, will cost you nothing and will help us resolve your complaint. You can contact FSCL at:
In writing: Financial Service Complaints Ltd; PO Box 5967 Lambton Quay, Wellington 6145
By email: [email protected]
By freephone: 0800 347 257
