Disclosure

DISCLOSURE - STATEMENT OF SERVICES

This document outlines the services we provide and how we are paid for these services.  It includes details relating to the financial advice we provide to you, how we are regulated by current law and your rights as a client. If you engage our services, more detailed information will be provided throughout the advice process.

LICENSING INFORMATION

TMR LTD trading as MY BROKER NZ (FSP 681091) and the Financial Advisers it engages, hold licenses issued by the Financial Markets Authority.

MY BROKER NZ is an independent, Auckland based Financial Advice Provider, registered on the Financial Services Providers Register.

NATURE & SCOPE OF ADVICE 

MY BROKER NZ Financial Advisers provide advice and services in the following areas:

·   Home Loans: First Home Buyers, Construction, Bridging, Refinancing, Investment Property, Top-ups, Debt Consolidation, Non-Bank lending.

·    Health/Medical Insurance:

·   Personal Risk insurance: including Life, Trauma, Disability, Income Protection, Mortgage Protection, Waiver of Premium, Specific Condition Cover, Household/Rental Expenses.

·   Business Risk insurance including Business Life, Serious Illness, Disability, Key Person, Business Expenses, Debt Protection, Shareholder Buyout, Loss of Revenue, Waiver of Premium Insurance.

·   KiwiSaver: investing with Generate to save for your retirement, or your first home.

·   General Insurance: This is sought through our AON Broker partners and Tower NZ. Commercial Insurance is also available through our AON partnership.

FEES AND EXPENSES

Insurance: We do not charge a fee for our services if you choose to take out a Life or Health Insurance policy following our advice and keep the policy in place for 24 months.

The Insurance Provider pays us a commission for their products you have acquired, by following our advice.

The only time you may be charged a fee, is if you decide to cancel or significantly alter, the terms of the policy within the initial 24-month period, as the Provider requires that we repay any commission we have received in this instance.  We may charge you a one-off fee of $250 (plus GST if applicable) for the time the Adviser has spent providing advice to you in relation to the solution/s presented. The total fee charged will not exceed the amount of commission needing to be repaid to the provider.

Lending: We do not usually charge a fee if you choose to take a loan through us, from most of our Lenders.

The Lender will generally pay us a commission when a loan is drawn down.  However, if the loan is repaid or the terms materially altered within the following 36 -month period, the Lender will require us to repay this commission. In such a case, you may be charged a one-off fee of $250 plus GST per hour, for the time the adviser has spent providing you advice and arranging your lending. This would be Capped at 10 hours.

Non-bank lending: Several Lenders in this category do not pay us a commission. Where this is the case, you will be charged a one-off fee for our services once the loan is drawn down. Any such fee would be agreed and authorised by you, in writing, at the outset.

COMMISSIONS / REMUNERATION

Our Advisers are usually remunerated by commissions paid by the Insurance Providers, Banks and Lenders, for whom we give advice. The amount of the commission paid follows a formula that varies for each provider and is determined by the amount of the Insurance premium or the amount of the loan. We can provide an accurate figure for you once provider and policy, or loan details are fully confirmed.

CONFLICTS OF INTEREST & INCENTIVES

To ensure our Financial Advisers prioritise our clients’ interests above their own, we follow an advice process which is designed to establish your requirements based on your individual circumstances. This is what forms the basis of any recommendations.

During this process we research suitable products and providers to ensure our advice meets your specific needs.

We undergo training to help us manage any potential conflicts of interest.

DUTIES OF ADVISERS

Our Advisers are bound by duties to meet standards of Knowledge, competence, and skill, as set by the Code of Professional Conduct for Financial Advice Services.

Advisers must also exercise care, diligence, and skill – and meet standards of ethical behaviour, conduct and client care, as set out in the Code of Conduct.  More duties information is available on the Financial Market’s Authority Website: https://www.fma.govt.nz

As a business, we undertake compliance audits to ensure we continue to meet the highest possible industry standards.

RELIABILITY HISTORY

We are required to report on any reliability event that has taken place involving either My Broker NZ or one of its’ Advisers, as it may influence your decision to take advice from us.

Such events might include legal proceedings against an adviser or the company, or discharge from bankruptcy within the last four years.  We are pleased to state that we have no such reliability events to report.

COMPLAINTS OR DISPUTES

If you are not satisfied with our Financial Advice Service, you are encouraged to make your complaint known by email or phone call to our Director, Travis Moan travis.moan@mybroker.nz or 021 0761703.

Our aim is to resolve a complaint within 10 working days, and we will update you throughout the process.  If for some reason we are unable to reach an agreed resolution, you can contact our external disputes resolution service (below), free of charge:

Financial Disputes Resolution Service: www.fdrs.org.nz.: Free call 0508 337337

MY BROKER NZ membership number - FM4045.

PRIVACY

During the course of this business, we collect personal information about our clients. This information is gathered for the purpose of providing appropriate advice.

Clients have the right to ensure the information is correct and their authorisation is sought before any information is released to a third party to complete the application process.

IDENTIFYING INFORMATION – DETAILS FOR OUR ADVISERS:

 Travis A F Moan

Travis is the owner and director of TMR LTD trading as MY BROKER NZ (FSP 681091).  He is also a Financial Adviser (FSP305786).

Phone: 021 076 1703

Email: travis.moan@mybroker.nz

Shelley A Kahn

Shelley is a Financial Advisor (FSP604570) giving advice on behalf of MY BROKER NZ (FSP 681091).

Phone: 0274 399 379

Email: shelley.kahn@mybroker.nz

OUR PRODUCT PROVIDERS

We work with a wide range of Lenders and Insurance Providers in our market (refer list below). For KiwiSaver investing, we work solely with Generate. 

BANKS & LENDERS:

ANZ; ASB; BNZ; Westpac; Go Home Loans (Sovereign - AIA); SBS; Co-Op Bank; General Finance; NZCU Baywide; Southern Cross Finance; Co-Op Bank; Cressida Capital; Property Finance; ASAP Finance; NZMS; Finbase; Plus Finance; Prosper; Heartland Bank; Marac; Resimac; Avanti Finance; DBR; First Mortgage Trust; Liberty Finance; Bluestone; Basecorp Finance; Funding Partners; Lock Finance; Pepper Money.

INSURANCE PROVIDERS:

Partners Life; AIA; Fidelity Life; NIB; Chubb Life.  AON Stylecover & Tower for Fire and General.

KIWISAVER:

Generate.