Licensing Information
We operate as a Financial Advice Provider under a current licence issued by the Financial Markets Authority by the name of NZ Financial Services Group Limited (FSP286965).
Mobile Mortgage Services Limited is a Financial Services Provider [( FSP768831) (NZBN: 9429042320821)]. [FSP (Entity)] Registered. Our office is located at 16 Nether Green Crs, Johnsonville, 6037 Wellington.
NATURE AND SCOPE OF ADVICE
Mobile Mortgage Services Limited provides advice to our clients about their mortgages and Kiwisaver via NZ Funds.
We only provide financial advice about products from certain providers:
For mortgages, we work with the following lenders: these are: ANZ Bank, ASB Bank, BNZ Bank, Westpac, FMT, SBS, Sovereign, The Co-operative Bank, ASAP, Avanti Finance, Basecorp Finance, Cressida Capital, DBR, Heartland Bank, Liberty, Prospa, Resimac, Southern Cross, Select.
In providing you with financial advice, we will only consider existing term life, trauma, income protection and health insurance policies (if any). We will not provide advice on existing whole of life or endowment products, so you will need to consult a specialist if you would like advice on those products.
OUR FEES
The actual fee charged to you will depend on the nature and scope of the advice or service we provide.
We will discuss and agree the actual fees with you before we proceed and explain how they are payable.
UPFRONT & TRAIL FEE
The fees charges for our advice and services may be based on a combination of:
• A set dollar amount; or a percentage – based fee.
• Our agreed advice and service fees may include charges for Initial advice, ongoing or annual advice and services.
COMMISSION
For services in relation to Loan Products and Kiwisaver, commissions may be paid by the product provider as follows:
Initial commission – a percentage of the value of your investment balance and Lending amount.
Mortgages – from 0.55% to 0.85% of loan amount
Ongoing commission (Trail Commission) – a percentage of the value of your investment balance or loan amount, (Westpac & BNZ) usually calculated at the end of each month in which you hold the investment or loan.
Mortgages – 0% to .30% per annum of loan amount – or refix fees of $0 to $150 per refix.
The commission is used to remunerate the financial adviser that provides the advice, and to pay the expenses associated with running the business including staff costs, utilities, IT resources and other business-related expenses. In addition, we pay NZ Finance Service Group Limited for the services they provide.
OTHER COSTS
Where other costs are incurred in the process of providing our advice and services to you, you will be liable for these costs. However, we will agree all additional costs with you prior to incurring them. You may be charged a one-off fee for the following situation.
1. Where there is no commission: any financial advice provided will incur a fee which would be agreed and authorize by you before we agree on the service.
Should we need to charge you a fee, you will be invoiced and will be given 30 days to make the payment.
CONFLICTS OF INTEREST
We are here for our clients and to advice you as best we can. Your interests are our priority although we do have business relationships with product providers also. From time to time our products providers assist us with funding so we can bring our advisers together for conferences and professional development training.
To ensure that our financial advisers prioritise the client’s interests above their own, we follow an advice process that ensures our recommendations are made based on the client’s goals and circumstances.
Joseph Williams undergoes annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme annually by a reputable compliance adviser.
INTERNAL COMPLAINTS PROCESS
If you have a problem, concern, or complaint about any part of my service, please tell me so I can try to fix the problem. You may contact our Business Administrator by telephoning +6426487978 or emailing isabelle@mobilemortgageservices.co.nz
If we cannot agree on how to resolve the issue, you can contact the Financial Services Complaints Limited. This service will cost you nothing and will help us resolve any disagreements.
EXTERNAL COMPLAINTS PROCESS
If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact our external disputes resolution scheme – Financial Services Complaints Limited. This service will cost you nothing and will help us resolve any disagreements.
DRS Membership Number 6370
You can contact Financial Services Complaints Ltd at:
Address: PO Box 5967, Lambton Quay, Wellington 6140
Phone: 0800 347 257
Email: info@fscl.org.nz