Publicly Available Disclosure – Capital Advice

 

This document sets out the information that our business is required to make publicly available in accordance with the Financial Markets Conduct Regulations 2014 to help you decide if you want to seek our advice.

 

Company Name: Capital Mortgage Brokers Limited trading as Capital Advice

FSP Number: 767212

Phone Number: 021 433 788

Email: kit@capitaladvice.co.nz

 

Company Name: Gareth Humphreys Advice Limited trading as Capital Advice

FSP Number: 727351

Phone Number: 021 034 6471

Email: gareth@capitaladvice.co.nz

 

Company Name: RJC Financial Services Limited trading as Capital Advice

FSP Number: 1000770

Phone Number: 027 317 9444

Email: richard@capitaladvice.co.nz

 

Licensing information

We operate as Authorised Bodies under a Financial Advice Provider licence issued by the Financial Markets Authority in the name of NZ Financial Services Group Limited (NZFSG) (FSP286965).

There are no conditions attached to this licence on the advice that may be given.

Our Duties

Capital Mortgage Brokers Limited, Gareth Humphreys Advice Limited, RJC Financial Services Limited,and anyone who gives financial advice on our behalf, have duties under theFinancial Markets Conduct Act 2013.

These duties are to:

  • Meet the standards of competence, knowledge, and skill and the standards of ethicalbehaviour, conduct, and client care set out in the Code of Professional Conduct forFinancial Advice Providers.
  • Give priority to your interests.
  • Exercise care, diligence, and skill.

Our Products and Product Providers

We provide advice to our clients about home loan products.

We provide advice about products from certain providers.

For lenders we work with: AIA Go Home Loan, ANZ, ASB, ASAP Finance Limited, Avanti Finance, Basecorp Finance, BIZCAP, BNZ, CFML, Cressida Capital, DBR, Finbase, First Mortgage Trust, GeneralFinance, Heartland Bank, Kiwibank, Liberty Financial Limited, Midlands Funds Management, Pallas Capital, PepperMoney, PROSPA, SBS Bank, The Co-operative Bank, TSB, Unity,Westpac.

Fees and Expenses

Generally, we won’t charge you any fees for the advice that we provide to you. This is possiblebecause, if you act on the advice given, we usually receive commission from the applicableproduct provider on settlement of a mortgage. Thereare some exceptions to this general position which are explained below.

We may charge you a one-off fee in the following situations:

(a) No commission: If you request that we provide services in relation to a product or serviceand we do not receive a commission. Any such fee would be agreed and authorised by youin writing before we complete the services and would be based on an estimate of the timespent providing the advice.

This may arise in the rare event that you request that we provide Services in relation to eithera product that is offered by a provider that we do not hold an accreditation with, or aproduct that is outside our usual arrangements with our product providers.

Should we need to charge you a fee, you will be invoiced and will be given 30 days to makepayment.

Commissions and other incentives

If you proceed with a product on the basis of financial advice given by your adviser, the adviser, adviser business, and/or the licensee usually receives commission on settlement of aloan. We may also receive a commission payment or referral feefor business referred to other businesses.

The types of payments that may be received include:

  • Upfront commission (calculated as a percentage of the first year’s premium (in thecase of insurance products) or a percentage of the loan at drawdown (in the case of aloan).
  • Renewal or trail commission calculated as a percentage of the premium paid foreach year the policy is in force (in the case of insurance products) or a percentage ofthe loan outstanding at the relevant time (in the case of a loan).
  • Fixed rate roll over fee (from some product providers if we assist in refixing your loan).
  • Referral fees.
  • Other incentives or rewards, for example gifts or tickets to events.

Further information about the commissions and incentives that are relevant to the advice you may receive, including the maximum percentages used to calculate the commissions,will be given to you by your Financial Adviser.

This commission is used to remunerate the financial adviser that provides the advice, and topay the expenses associated with running our business including any rent, staff costs and ITresources. From this commission we also pay NZ Financial Services Group Limited forservices they provide to us in connection with our authorisation under their licence from theFinancial Markets Authority.

Conflicts of Interest

We may attend events hosted by industry associations, product providers, and NZFSG, at which product providers discuss and provide information about their products. Wemanagethis potential conflict of interest by ensuring we follow an advice process that ensures weprioritise your interests and recommend products that are suitable for you regardless of theinformation received at such events.

We take steps to ensure that the conflicts of interest, including receipt of commissions or other incentives, does not influence the advice we give to you and that our advisers prioritiseyour interests by recommending the best product for your purpose regardless of the typeand amount of commission we or they may receive.

We do this by:

  • Ensuring our advisers follow an advice process that ensures they understand yourneeds and goals and that their recommendations meet those needs and goals.
  • Ensuring our advisers receive regular training on how to manage conflicts of interest.
  • Providing you with a schedule showing commission amounts and types by productprovider. This schedule is contained within each Financial Adviser’s personalisedDisclosure Guide. A Financial Adviser will provide you with more information aboutcommissions during the advice process.

If there are any conflicts of interest apart from commission that could potentially influencethe advice that we give, these will be shown in your Financial Adviser’s Disclosure Guide.

Complaints

If you have a complaint about our service, you need to tell us about it. You can contact our internal complaints service by phoning us on +64 4 495 5900 or emailing us at info@capitaladvice.co.nz with the heading Complaint – (Your Name).

Please set out the nature of your complaint, and the resolution you are seeking. We will acknowledge receipt of this within 24 hours. We will then record your complaint in our Complaints Register and notify our Licence Holder. We may want to meet with you to betterunderstand your issues. We will then investigate your complaint and provide a response toyou within 7 working days of receiving your complaint. If we need more time to investigateyour complaint, we’ll let you know.

If we cannot agree on a resolution, you can refer your complaint to our external dispute resolution service. This service is free and independent and will assist you to resolve things with us.

Details of this service are:

 

Financial Services Complaints Limited (FSCL)

Phone: 0800 347 257

Email: complaints@fscl.org.nz

Get in Touch