Disclosure Statement

Adviser Business Publicly Available Disclosure Loan Market - Finns Finance Limited (Adviser Business) Trading as Loan Market - Mortgage Mates

• Mobile Number: 0226 523 369
• Email Address: brent.findlay@loanmarket.co.nz

This document sets out the information that the Adviser Business is required to make publicly available in accordance with the Financial Markets Conduct Regulations 2014.

An overview of the Adviser Business

The Adviser Business is a member of The Loan Market Group Limited (Loan Market Group), which is a financial services group trading under the names Loan Market and Insurance Market. Loan Market Group also has publicly available information disclosure - you can find this information at the link at the very bottom of this website.

The Adviser Business:

• Is a Financial Advice Provider under the Financial Markets Conduct Act 2013.
• Is registered on the Financial Service Providers Register (FSPR).
• Engages Financial Advisers to provide financial advice to clients. The FSPR shows the Financial Advisers which have been engaged by the Adviser Business.

Licensing information

The Adviser Business and the Financial Advisers engaged by the Adviser Business are authorised to provide financial advice under a licence issued by the Financial Markets Authority in the name of The Loan Market Group Limited (FSP101485).

Financial Advice and Product Providers

The Adviser Business provides, through its Financial Advisers, financial advice to clients about:

• Home Loans
• Investment Loans
• Construction Loans
• Life
• Income Protection
• Health
• Trauma
• Permanent Disablement
• Asset Finance

The Financial Advisers only provide financial advice about products from certain product providers. These product providers are set out in each Financial Adviser’s personalised Disclosure Guide.

A Financial Adviser will provide their Disclosure Guide to you when you engage them or you can request a copy from the Adviser Business at any time to see the list of product providers.

May 2021 Specific information on the types of products that each of the Financial Advisers can provide financial advice on is also set out in their Disclosure Guide.

Fees and Expenses

Generally, the Adviser Business and its Financial Advisers won’t charge you any fees for advice and transactional solutions. This is possible because, if you acquire a product following receipt of their advice, the Adviser Business or the Financial Adviser usually receives commission from the applicable product provider (as described below under ‘Commissions & incentives’).

The exceptions to this general position are explained below. You may be charged a one-off fee in the following situations:

(a) No commission: If you request that a Financial Adviser provide services in relation to a product or service and the Adviser Business or Financial Adviser does not receive a commission, you may be charged a one-off fee. Any such fee would be agreed and authorised by you in writing first and would be based on an estimate of the time spent providing the advice. This may arise in the rare event that you request services in relation to either a product that is offered by a provider that the Adviser Business or Financial Adviser do not hold an accreditation with, or a product that is outside its usual arrangements with product providers.

(b) Repayment of commission: In the event that:

• In the case of a loan, in the 28 month period following drawdown of the loan, the loan is fully or partially repaid or the terms materially changed; or
• In the case of an insurance policy, in the 24 month period following issuance of the insurance policy, the policy is canceled or the terms materially changed, and the relevant product provider requires that the applicable commission is repaid to them, you may be charged a one-off fee. Any such fee would be no more than $2,500 (plus GST, if any) and would be calculated based on a rate of $250 (plus GST, if any) per hour of the Financial Adviser’s time spent providing advice to you in connection with the applicable product. The fee charged will not exceed the amount of commission that needs to be repaid from the product provider. You will be invoiced for any one-off fee and will be given 30 days to make payment. The Financial Adviser will let you know about any other fees in their specific Disclosure Guide.

May 2021 Conflicts of Interest

Commissions & incentives

If you proceed with a product on the basis of financial advice received from a Financial Adviser, the Adviser Business or the Financial Adviser usually receives a commission or incentive payment from the applicable product provider. The types of payments that may be received from product providers are as follows:

• Upfront commission which is calculated as a percentage of the first year's premium (in the case of insurance products) or a percentage of the loan at drawdown (in the case of a loan).
• Renewal commission which is calculated as a percentage of the premium paid for each year the policy is in force (in the case of insurance products) or a percentage of the loan outstanding at the relevant time (in the case of a loan).
• Fixed rate rollover fees (in the case of re-fixing a 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 the Financial Adviser.

The Adviser Business takes steps to ensure that the receipt of these types of payments does not influence the financial advice given and that its Financial Advisers prioritise your interests by recommending the best product for your purpose regardless of the type and amount of payment that may be received.

The Adviser Business does this by:

• Ensuring the Financial Advisers follow an advice process that ensures they understand your needs and goals and that their recommendations meet those needs and goals.
• Ensuring the Financial Advisers receive regular training on how to manage conflicts of interest.
• Providing you with a schedule showing maximum commission rates and types by product provider. This schedule is contained within each Financial Adviser’s personalised Disclosure Guide. A Financial Adviser will also provide you with more information about commissions during the advice process.

Loan Market Group may also receive commission or incentive payments as follows:

• A commission payment from the applicable insurer if an insurance application is accepted.
• A referral payment from Tower Insurance if a client is referred for insurance needs.
• A referral payment from XE Money or Prospa NZ if a client is referred for other financial needs.

Terms of these payments are between Loan Market Group and the applicable product provider. These payments do not influence the advice given to you as Loan Market Group does not direct or influence Financial Advisers to recommend products from a particular insurer.

Financial Advisers are required to recommend products by following the advice process described above.

Other Conflicts of Interest

The Financial Advisers engaged by the Adviser Business may attend, from time to time, events hosted by product providers or events hosted by Loan Market Group, at which product providers discuss and provide information about their products.

The Adviser Business manages the potential conflict of interest raised by attendance at these events by ensuring the Financial Advisers follow the advice process described above to ensure the Financial Adviser prioritises your interests by recommending the best product for your purpose regardless of the information received at events they’ve recently attended.

If there are any other conflicts of interest that could potentially influence the financial advice that you will receive, these will be shown in each Financial Adviser’s Disclosure Guide.

Complaints and Dispute Resolution

If you have a complaint about the service you’ve received from the Adviser Business or its Financial Advisers you can contact the Adviser Business’s internal complaints service by phoning or emailing the Adviser Business (contact details are shown above and on this webpage) with the heading Complaint - (Your Name).

Please set out the nature of your complaint, and the resolution you are seeking. The Adviser Business will aim to acknowledge receipt of this within 24 hours. The Adviser Business will then record your complaint in its Complaints Register and investigate your complaint.

The Adviser Business may want to meet with you to better understand your issues. The Adviser Business will then investigate your complaint and provide a response to you within 7 working days of receiving your complaint. If the Adviser Business needs more time to investigate your complaint, they’ll let you know.

If a resolution is not agreed, you can refer your complaint to the Adviser Business’s external dispute resolution service. This service is independent and will cost you nothing and will assist to resolve things.

Details of this service are:

Financial Services Complaints Limited

• Phone: 0800 347 257
• Email: complaints@fscl.org.nz

May 2021

Duties

Anyone within the Adviser Business giving financial advice is bound by and supports the duties set out in the Financial Markets Conduct Act 2013. These duties are:

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