Important information about our business

Kea Financial Services Limited is a Licensed Financial Advice Provider issued by the FMA to provide financial advice services.

René Artz is an adviser that provides advice on behalf of Kea Financial Services Limited.

Contact details for both the business and adviser are as follows:

Name of Financial Advice Provider: Kea Financial Services Limited

FSP Number: 1006928

Name of Registered Financial Adviser: René Artz

FSP Number: 1006927

Our office contact details:

Address:             60 Peter Street, Ashburton 7700
Phone:                  021 025 42780
Email:                   info@keamortgages.co.nz
Website:             www.keamortgages.co.nz

Nature and Scope of financial advice services

Products we can provide financial advice about:

• Home Loans – first mortgage, second mortgage, refinance, bridging finance, top-ups, pre-approvals, mortgage reviews

• Investment loans – for residential and commercial investment properties

• Personal loans – cars, trucks, debt consolidation, unsecured loans

• Asset Loans – vehicles, trucks, plant & equipment

• Business Loans – cashflow, commercial property loans

Product providers we might recommend:

We provide financial advice service about loan products from the following providers (also known as lenders):

• ANZ Bank New Zealand Limited

• ASB Bank Limited

• Bank of New Zealand

• Westpac New Zealand Limited

• Avanti Finance Limited

• Basecorp Finance Limited

• DBR Limited

• General Finance Limited

• Unity

• Pepper New Zealand Limited

• Resimac Financial Securities Limited

• Oxford Finance

• The Co-operative Bank Limited

• Cressida Capital One Limited

• ASAP Finance Limited

• Liberty Financial Limited

• Funding Partners Limited

• Southern Cross Finance Limited

• A Private lender should circumstance dictate

Any financial advice given to you on our behalf will be based on the information you have provided about your particular needs, financial situation or goals, therefore is important you disclose your financial and personal position and goals to your best ability.

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 on the actual fees with you before we proceed and explain how they are payable.

The following section outlines Commission, Fees and Other Costs that may apply.

Commissions

Generally, I won’t charge you any fees for the financial advice I provide to you. This is possible because, on settlement of a loan, most mainstream Banks and some non-bank lenders will pay an Adviser an Initial (upfront) commission when the loan is drawdown. This is normally a percentage of the loan facility ranging from 0.40% - 0.85% depending on the product provider.

Ongoing (trail) commission - a percentage of the value of your outstanding loan amount, usually calculated at the end of each month of which you hold the loan. Only some product providers pay this ongoing commission, normally at a rate of 0.10% - 0.20%.

Any exceptions to this general position are explained below.

Fees

In some circumstances I will need to charge you a fee for my services. If this is the case, I will discuss this with you up front & we will agree on the fee and confirm in writing before any applications are undertaken.

This could be in the following circumstances, but not limited to:

• Arranging finance with a Lender on your behalf, who does not pay any commissions & I need to cover my time, service, and expertise. For example, this could apply to situations such as commercial/business loans, small top ups, caveat/personal loans, 2nd mortgages, bridging finance, restructures, and adverse credit history

• Completing a restructure of your current lending, where no commission is paid by the Lender

• Where I provide consultation services for you where there is no new lending, but time is taken, and formal advice is provided

• Top ups on existing home loans where there is less than $100,000 of new lending

• A full face to face review of your financial position & mortgage planning advice, goals and preparation for a home loan application in 6 or more months

Commission recovery policy

If a mortgage is repaid within 27 months of your mortgage settlement, Kea Financial Services Limited will have to repay some of the ‘upfront’ commission received. This has to be repaid to the Lender. This is known as ‘commission clawback’.

If Kea Financial Services Limited is charged with a commission clawback, due to early settlement of the mortgage arranged for you, then Kea Financial Services Limited will ask you to repay Kea Financial Services Limited the commission that has become repayable to the Lender, to a maximum of $2,500* as cost recovery for the service provided. This is commonly known as the clawback fee. The clawback fee I charge you will not exceed the amount of commission I have to repay to the lender.

*This has been calculated on an average of 10 hours of advice, negotiation and administration to complete and submit your loan/insurance application to the provider, at our hourly rate of $250 per hour.

The above cost recovery applies if Kea Financial Services Limited is not given the opportunity to arrange the refinance.

There will be no fee payable if:

• Kea Financial Services Limited was given the opportunity, but was unable to get a subsequent finance approval

• An upfront fee was agreed and paid by the Client when the mortgage was originally drawn and no commission was received. This would be the case with most short-term loan contracts.

• In Kea Financial Services Limited opinion, the early repayment of the mortgage was driven by an exceptional change of circumstance for the Client

Commission clawbacks are in no way associated with any adviser fee Kea Financial Services Limited may have charged for arranging non-Bank lending.

You will be invoiced for the clawback fee and will be given 30 days to make payment.

Other fees

Please advise us at the start of the process if you are engaging other banks or brokers directly. In this instance I may charge an admin fee for my time should we obtain approval/or spend considerable time on a proposal and you source the finance elsewhere via another broker or bank directly within 7 months of this engagement. This includes non-disclosure of critical information that hinders our ability to obtain a solution causing additional work. Our admin fee would be capped at $2,500 based on the time spent to get an application prepared to be submitted to a Lender.

You will be invoiced and will be given 30 days to make payment.

Adviser fees where lender commission is not payable

We may charge a fee (advised and agreed upfront) for complex work that does not earn a commission from the lender to sufficiently cover our time and expertise. That may include situations such as commercial/business loans, small top ups, caveat/personal loans, 2nd mortgages, bridging finance, restructures, mortgage planning advice and lending where there is adverse credit history. If anything is unclear, please discuss with me in the first instance.

You will be invoiced, and payment will be due upon settlement of the new loan.

Other costs (such as legal fees, valuation fees)

Where other costs such as legal, valuation, accountant fees are incurred in the process of providing our advice and services to you, you will be liable for these costs.

Conflicts of interest or other incentives

We are not aware of any conflicts of interest. We do not hold any shares or have any personal interest with our product providers.

We are here for our clients and to advise you as best we can. Your interests are our priority although we do have business relationships with product providers also. From time to time, we may receive a small gift from a product provider (e.g., taken out for lunch, movie tickets, a bottle of wine).

From time to time our product providers assist us with funding so we can bring our advisers together for conferences and professional development training.

Other examples include discounts on our CRM, subsidised training for advisers or other non-monetary benefits.

How we manage any conflicts of interest

To ensure our advisers prioritise our clients’ interests:

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

• We follow an advice process that ensures our recommendations are made appropriately, based on Clients’ goals and circumstances

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

• By confirming to you how much commission I will receive, if any when making your loan recommendation

• By undergoing annual training about how to manage conflicts of interest

• We maintain registers of conflicts of interests and the gifts and incentives we receive. These registers are monitored regularly, and additional training is provided as required

• We undertake an annual independent Compliance Assurance Review

Our duties and obligations to you

We are bound by the duties of the Financial Markets Conduct Act (431I, 431K, 431L and 431M) to:

• Meet the standards of competence, knowledge and skill set out in the Code of Conduct

• Give priority to the clients’ interest and

• Exercise care, diligence, and skill and

• Meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct

Our Internal complaints process

If you have a problem, concern, or complaint about any part of our advice or service, please tell us so that we can try to fix the problem. Our internal complaints manager is René Artz who can be reached via email at info@keamortgages.co.nz or 021 025 42780. René will reply to you within 5 working days.

Our internal complaints handling process is as follows:

1. Existing clients can select the ‘Complaint’ button in their profile or at the bottom of the portal webpage. If you are not an existing Client, please email our internal complaints manager at info@keamortagges.co.nz

2. We will reply within 5 working days

3. We will resolve your complaint within 10 working days

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 complaints.

You can contact Financial Services Complaints Limited at:

Address: PO Box 5967, Wellington 6140

Phone number: 0800 347 257 or +64 4 472 3725

Email address: info@fscl.org.nz

Introduction

Kea Financial Services Limited (we, us, our) complies with the New Zealand Privacy Act 2020 (the Act) when dealing with personal information. Personal information is information about an identifiable individual (a natural person). This policy sets out how we will collect, use, disclose, and protect your personal information.

This policy does not limit or exclude any of your rights under the Act. If you wish to seek further information on the Act, you can contact our Privacy Officer by email at info@keamortgages.co.nz . Or visit www.privacy.org.nz for further information.

Changes to this policy

We may change this policy by uploading a revised policy onto the website. The change will apply from the date that we upload the revised policy.

What is personal information?

Personal information is information about an identifiable individual. It includes (but is not limited to) name, address, contact details, date of birth, occupations, payment details, employment history and/or details, education and qualifications, financial information, testimonials and feedback, evidence of source of funds or source of wealth (in some cases) and other information.

We will use your personal information:

●         to verify your identity

●         to provide services and products to you

●         to market our services and products to you, including contacting you electronically (e.g. by call, text, or email for this purpose)

●         to improve the services and products that we provide to you

●         to respond to communications from you, including a complaint

●         to protect and/or enforce our legal rights and interests, including defending any claim

●         for any other purpose authorised by you or the Act.

Disclosing your personal information

We may disclose your personal information to:

●         Other companies or individuals who assist us in providing services or who perform functions on our behalf (such as mailing houses, hosting and data storage providers, specialist consultants, and legal advisers);

●         Product providers (such as but not limited to lenders and insurance companies);

●         Financial advisers and financial advice providers who may use our services;

●         Other companies or individuals who perform checks (such as but not limited to compliance reviews and audits) that are necessary or desirable under the law on our behalf;

●         Other companies, agencies, or individuals that maintain databases against which your identity may be verified, which may include (but are not limited to) the New Zealand Department of Internal Affairs, and New Zealand Transport Agency;

●         Social media sites on which we may have a presence;

●         Courts, tribunals, and regulatory authorities (such as the Financial Markets Authority, and the Ministry of Justice in New Zealand);

●         Office of the Ombudsman, where a complaint relates to official information;

●         Any person or agency we believe could assist in responding to a serious privacy breach.

●         Office of the New Zealand Privacy Commissioner, where a complaint relates to breach of the Privacy Act 2020;

●         Human Rights Commission, where a complaint relates to discrimination;

●         CERT NZ, where appropriate to assist with the management of a voluntarily notified privacy breach

●         Overseas privacy regulator, where a complaint relates to the actions of an overseas agency; and

●         Anyone else to whom you authorise us to disclose it.

Except as described above, we will not disclose your personal information without your written or oral consent, unless we are required to do so by applicable law.

Protecting your personal information

We will take reasonable steps to keep your personal information safe from loss, unauthorised activity, or other misuse. Our software is subject to audits to ensure it is continuing to meet security requirements. All data handled in our software is encrypted in transit and during storage and can only be accessed over secure network connections.

Storing your personal information

We will only retain personal information as long as it is required for the purposes for which the information may lawfully be used. All data stored online is backed up and can be retrieved in the event of data loss or corruption.

Data will sometimes be held on-premise at 60 Peter Street, Ashburton if it is provided to us outside of our software.

Accessing and correcting your personal information

Subject to certain grounds for refusal set out in the Act, you have the right to access your readily retrievable personal information that we hold and to request a correction to your personal information. Before you exercise this right, we will need evidence to confirm that you are the individual to whom the personal information relates.

In respect of a request for correction, if we think the correction is reasonable and we are reasonably able to change the personal information, we will make the correction. If we do not make the correction, we will take reasonable steps to note the personal information that you requested the correction.

If you want to exercise either of the above rights, email us at info@keamortgages.co.nz .  Your email should provide evidence of who you are and set out the details of your request (e.g. the personal information, or the correction, that you are requesting).

Data Breaches

Our Privacy Officer has processes and systems in place in the unfortunate event of a data breach. If such an event occurs, we will promptly identify, report and examine a personal data breach.

Internet use

While we take reasonable steps to maintain secure internet connections, if you provide us with personal information over the internet, the provision of that information is at your own risk.

If you follow a link on our website to another site, the owner of that site will have its own privacy policy relating to your personal information. We suggest you review that site’s privacy policy before you provide personal information.

We use cookies (an alphanumeric identifier that we transfer to your computer’s hard drive so that we can recognise your browser) to monitor your use of the website. You may disable cookies by changing the settings on your browser, although this may mean that you cannot use all of the features of the website.

We may use information about your use of our websites and other IT systems to prevent unauthorised access or attacks on our software. We may utilise services from one or more third-party suppliers to monitor the use of our systems. These third-party suppliers will have access to monitoring and logging information as well as information processed on our websites and other IT systems.