Kiwi Financial Solutions

NATURE & SCOPE OF ADVICE

Our advisers provide advice about:

Personal insurance (risk), including health insurance.
Business Risk Insurance (Key Person, Shareholder Protection benefits, Business Overheads/Expenses)
ACC advice.
Mortgages and personal lending.
Determining how much you can afford to borrow Selecting an appropriate lender and mortgage structure.
How to structure your repayments to pay off your mortgage sooner.
Structuring and refixing your current lending.

We provide advice in relation to the following lending products:

Mortgages
Personal loans
Top Ups
Fixed rate rollovers
Debt consolidation
Business loans

We provide advice in relation to the following insurance products:

Life Insurance
Trauma Insurance
Total and permanent disability insurance
Income Protection insurance
Mortgage and household expenses cover
Health/medical insurance

PROVIDERS

We provide advice in relation to products provided by the following companies:
Bank Lenders

ANZ	ASB
BNZ Kiwibank	AIA ICBC
SBS Westpac	ASAP Liberty Finance

Non-Bank Lenders

AIA	ICBC
ASAP	Liberty Finance
Avanti Finance	Link Home Loans
Basecorp Finance	Metro Finance
Bizcap	Oxford Finance
CFML Loans	Pallas Capital
China Construction Bank	Pioneer Finance
Cressida Capital	Property Funding
DBR Property Finance	Prospa
Fico Finance	Simplify
Finbase	The Co-Operative Bank
First Mortgage Trust	Strata Funding
Funding Partners	Unity
General Finance	XCEDA
Get Capital	Zagga
Go Lend
Gold Band Finance
Heartland Bank
Southern Cross Partners

Insurance
AIA
Chubb
nib

FEES AND EXPENSES

Generally, we do not charge you a fee for our services. This is because our advisers are usually remunerated by way of commission by the providers of products we recommend. However, there are some situations where fees may apply.

On occasion, some providers may not pay a commission. In this situation, we may charge a fee. The fee payable will be a fair reflection of the time required to provide you with advice and obtain approval for you. For mortgages, this fee can be added to your loan amount and will be paid at the time your loan is advanced.
Where your adviser has obtained approval from a lender or insurer who does pay commission, but you decide not to proceed with the advice, we may charge you a fee based on a fair reflection of the time required to provide you with advice and obtain approval for you.
For lending advice, If a product or service provider requires that we repay commission within 28 months of settlement of your mortgage or lending product. We will invoice you for the full amount of commission that lender requires us to repay them back, this will be invoiced accordingly and needs to be repaid within 7 days of invoice.
For insurance advice, should you proceed with a policy implementation after advice from your adviser, and then cancel, amend, or change your policy within 25 months of premium payments, we may charge you a fee for the time spent to provide advice and obtain approval on your behalf.
Client not proceeding fee: In the event you use my advisory services and then instruct me not to proceed with an application for the product we’ve been discussing or approach the lender directly, I may charge you a once-off fee to cover the cost of my time. Any such fee 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 product. You will be invoiced for any such fee and will be given 14 days to make payment.
Fees for Business Loans: Flat fee $4,000 or 1% of the loan amount whichever is higher. Below mentioned are payment terms:
1. $2,000 to be paid by you at the time of application and is non-refundable irrespective of the outcome of the application. This is to compensate us for the work involved. Balance amount is to be paid at the time loan is approved.
2. Any commission paid to us directly by the lender will be deducted from the total fees applicable and adjusted in the fee payable by you on loan approval. Any fees relating to advice that may apply will be discussed and agreed with you prior to implementing your advice. Where a fee is charged, you will be issued with an invoice. This will be payable within 14 days or as otherwise agreed to with your adviser.

CONFLICTS OF INTEREST

We receive commissions from some of the lenders and insurers that we recommend. For lending, the amount of commission is based on the amount of the loan and will vary depending on the lending provider. For insurances, the amount of commission is based on the amount of premium associated with your cover and may vary depending on the insurer. Specific commissions will be advised to you when advice is provided.

From time to time, product providers may also reward us for the overall business we provide to them. They may give us tickets to sports events, hampers, or other incentives.

To ensure that our financial advisers prioritise the client’s interests above their own, we follow an advice process that ensures our personalised recommendations are made on the basis of the client’s goals and circumstances, as advised to us.

Our financial advisers complete regular training, including how to manage conflicts of interest. Each adviser has a regular compliance review of their advice process.

DISPUTES AND COMPLAINTS

If you are not satisfied with our financial advice service you can make a complaint by emailing complaints@lfg.co.nz, or by calling 0800 466 784. You can also write to us at: 1/1 Antares Place, Rosedale, Auckland. When we receive a complaint, we will consider it using 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 cannot, 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 cannot resolve your complaint, or you are not satisfied with the way we propose to do so, you can contact Financial Disputes Resolution Scheme (FDRS). FDRS provides a free, independent dispute resolution service that may help investigate or resolve your complaint if we have not been able to resolve your complaint to your satisfaction. You can contact FDRS by phone on 0508 337 337, or by emailing enquiries@fdrs.org.nz.

DUTIES INFORMATION

Kiwi Financial Solutions, and anyone who gives financial advice on our behalf, has 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 is not 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 behaviour, 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 www.fma.govt.nz.

Important Information

LICENCING INFORMATION