Company Name: Zurich Finance
Contact: 0275363888 www.zurichfinance.co.nz
Here is some essential information you need to know about Zurich Finance to help you make an informed and confident choice when engaging us.
Zurich Finance (FSP number: 6807676) is a licensed Financial Advice Provider and regulated by Financial Markets Authority (FMA) to provide financial advice in relation to loans and mortgages and insurance. You can find more information about our individual advisers on our website.
We provide financial advice in relation to loans and mortgages from a panel of lenders below:
ANZ, ASB, BNZ, Westpac, Bank of China, ICBC, CCB, Heartland bank, TSB, SBS bank, The Coorperative bank, Avanti finance, Select, Resimac, Liberty, FMT, DBR, Southern Cross, Peppermoney, Cressida capital, ASAP, Basecorp finance, CFML, Prospa, Zip business…The type of financial advice products we can provide advice on are:
• Home Loan • Construction Loan • Business Loan • Commercial Loan • Bridging Finance • Personal Loan • Car Loan • Refinance •Land Bank
Any advice we provide in relation to KiwiSaver withdrawal for a first home purchase is limited to factual information on what can be withdrawn and the process for this and does not extend to whether or not this is in the client’s best interests. Please consult an investment adviser for advice on retirement savings.
We provide financial advice in relation to insurance from a panel of insurance company below
AIA, NIB and Partners Life
The Type of insurance products we can provide advice on are
Health Insurance, Income Protection/Mortgage Repayment Cover, Trauma Insurance Cover, Total & Permanent Disability Insurance and Life Insurance
Our mortgage advisers are paid in the form of commission from the lenders through which we place business. The amount of the commission we receive depends on the settlement of a mortgage. The commission we receive on loans is calculated as a percentage of the loan. The commission is generally of an upfront nature but may also include a trail commission. We also receive a fixed rate rollover fee from some product providers if we assist in refixing your loan. This commission is used to remunerate the Financial Adviser that provides the financial advice to you, and to pay the expenses associated with running our business including any rent, staff costs and IT resources as well as paying NZFSG for services they provide to us in connection with our authorisation under their licence from the FMA. We take serious steps to ensure that the receipt of commissions does not in any way influence the financial advice given to you and that our Financial Advisers prioritise your interests by recommending the best product for your purpose regardless of the type and amount of commission that may be received.
Our insurance advisers receive a commission from the insurers through which we place business. The amount of the commission we receive depends on annual net premium. We will provide more specific details of these commissions at the time our advice is given.
To ensure our advisers prioritise our clients’ interests, we follow the six-step advice process that ensures our recommendations are made appropriately, based on clients’ goals, needs and circumstances. All our advisers undergo annual training about how to manage conflicts of interest. Providing you with detailed information showing commission rates and types by the lending product provider. This information is contained within each Financial Adviser’s personalised Disclosure Guide. Your Financial Adviser must provide you with more information about commissions during the advice process.
Generally, We/our advisers do not charge clients fees, expenses or any other amount for the financial advice we provide. You will not be invoiced or asked to pay any fees to us at any time. Any exceptions to this general position are explained below. We may charge you a one-off fee if the following occurs:
Our adviser will charge a fee for the financial advice provided to you. The fee charged will depend on the nature of the financial advice and service that we provide. When our adviser does not receive a commission from the lender: If you request that our adviser 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 upon and authorised by you in writing before we complete the services, and would be based on an estimate of the time spent on 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 our adviser does not hold accreditation with, or a product that is outside the usual arrangements with our product providers.
When our adviser has clawbacks (which means if a mortgage is repaid or refinanced within 28 months of your mortgage settlement, we/ our adviser will have to repay some of the “upfront” commission received to the lender. This is known as “commission clawback”). If the lender charges us/ our adviser with a commission clawback, due to early settlement of the mortgage for you, we/ our adviser will ask you to repay the commission that it has to repay to the lender to a maximum of $3,000 (including GST), as cost recovery for the service provided. This fee has been calculated on an average of 12 hours of advice, negotiation, and administration to complete and submit your loan application to the provider, at our hourly rate of $217.50 per hour plus GST. The exact fees we will charge will be confirmed at the time the advice is provided. All of our fees are payable within 30 days you receive the invoice from us.
For our Insurance advisers, we do not charge clients fees, expenses or any other amount for the financial advice we provide. You will not be invoiced or asked to pay any fees to us at any time, even if the engagement of services or the products placed through this engagement are terminated by either party.
Zurich Finance and our advisers 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; • exercise care, diligence, and skill; • meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services; • meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services.
If there are any conflicts of interest, apart from the commission, that could potentially influence the financial advice given to you, these will be shown in your Financial Adviser’s Disclosure Guide.
We maintain registers of conflicts of interest and the gifts and incentives we receive. These registers are monitored regularly, and additional training is provided as required.
If you are not satisfied with our service or financial advice, please contact our internal complaints service: Call: 0275363888 Email: firstname.lastname@example.org Write to: Zurich Finance, 92 Alton avenue, Hillcrest, Auckland 0627, New Zealand
When we receive a complaint, we will consider your complaint and let you know how we intend to resolve it within 2 working days of receipt of the complaint. Where possible, we try to resolve your complaint immediately. Please set out the nature of your complaint, and the resolution you are seeking. If we are unable to resolve your complaint immediately, we will acknowledge your complaint within 48 hours. We may contact you to get further information about your complaint. We aim to resolve complaints within 7 working days of receiving them. If we need more time to investigate your complaint, we will let you know when you can expect to receive a response to your complaint. We will contact you by phone, email or letter to let you know whether we can resolve your complaint and how we propose to do so. If we cannot agree on how to fix the issue, or if you decide not to use our internal complaints process, you can contact our external disputes resolution scheme, Financial Dispute Resolution Service (FDRS). FDRS provides a FREE and independent dispute resolution service that may help to resolve your complaint if we haven’t been able to do so to your satisfaction. To contact, Financial Services Complaints Limited, call: 0508 337 337 Email: email@example.com; Write to: Freepost 231075, PO Box 2272, Wellington 6140
You can find out about how to make a complaint and an overview of our internal complaints process on our website at http://www.zurichfinance.co.nz/complaint process. Our website also has information about external disputes resolution schemes, Financial Dispute Resolution Service (FDRS) provides a free and independent dispute resolution service that may help to resolve your complaint if we haven’t been able to do so to your satisfaction.