Disclosure guide

Here is some key information you need to know to help you understand what type of advice we are able to give you, so that you can make an informed and confident choice when engaging us.

Licensing information

Our Financial Advice Provider is authorised to provide a financial advice service under a current financial advice provider license issued by the Financial Markets Authority in the name of: NZ Financial Services Group Limited.

FSPR Number: 1005134

Nature and scope of advice

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

Services we provide

We will help you choose and apply for a loan that is suitable for your purpose from a panel of lenders (listed in the following section). Once we have chosen a lender and loan terms that are suitable for you, we will help you to obtain an approval.

Banks and lenders we use

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

ANZ; Westpac; BNZ; ASB; Kiwibank; ASAP Finance Limited; Avanti Finance; Cressida Capital; DBR; First Mortgage Trust; Heartland Bank; Liberty Financial Limited; NZCU; RESIMAC; SBS; Bank Select Home Loan; Southern Cross; The Co-operative Bank; CFML; Basecorp Finance; Zip Business.

Products we can help you with

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

• Home Loans

• Investment Loans

• Construction Loans

What else we can offer

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

• Tower - F&G

• Asset Finance

• UK Pension Transfers

• XE Money

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

Fees and expenses

Generally, we won't charge you any fees for the financial advice we provide to you. This is possible because, on settlement of a loan, we usually receive commission from the lender [which is explained in the commission section of this Disclosure Statement]. Any exceptions to this general position are explained below. If these exceptions apply to you, we will let you know.

One-off fees

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

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

(b) When we 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 we repay the applicable commission to them, we may charge you a one-off fee. Any such fee would be no more than $3,750 (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 we charge you will not exceed the amount of commission we have to repay to the lender.

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

Commissions and incentives

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

The commission is generally of an upfront commission payment but we 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.

We may also receive a fixed rate roll over fee from the applicable lender if we 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) can be supplied on request. If there are any variations to these percentages or other commission payments that may apply, specific to your loan application, we will disclose this to you as part of my advice process.

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

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

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

• Following an advice process that ensures we understand your needs and goals so that we always recommend the best product for you regardless of the type and amount of commission we will receive.

• Ensuring the amount of any loan is in accordance with your identified needs.

• Providing you with the table showing commission rates and types by lender.

• Undertaking regular training on how to manage conflicts of interest.

Privacy policy and security

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

Complaints process

If you have a problem, concern, or complaint about any part of our advice or service, please inform us so that we can try to rectify the problem. Our internal complaints manager is Matt Pene who can be reached via email at matt@flaxstreet.co.nz. Matt will endeavour to reply to you within two working days. 

Our internal complaints handling process is as follows: 
1. Existing clients can select the ‘Complaint’ button in their Trail profile or at the bottom of the portal webpage. If you are not an existing client, please email our internal complaints manager at matt@flaxstreet.co.nz 
2. We will reply within 2 working days 
3. We will aim to resolve your complaint within 20 working days

If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints process, you can contact our external disputes resolution scheme – Financial Services Complaints Limited. This service will cost you nothing and will help us resolve any complaints. 

You can contact Financial Services Complaints Limited at: 

Address: PO Box 5967, Wellington 6140 
Phone: 0800 347 257 or +64 4 472 3725 
Email: info@fscl.org.nz 

Please quote our FSCL number: 9045, when communicating with the above services.