Disclosure Statement

Here is some key information you need to know to help you understand what type of advice I am able to give you, so that you can make an informed and confident choice when engaging me

Details about me and my Financial Advice Provider

I am a Financial Adviser. I give advice on behalf of a Financial Advice Provider.

My details are set out below.

Full Name: Helen Stuart
Address: L1/373 Dominion Road, Mount Eden, Auckland 1024, New Zealand
Phone: 021 049 9345
Email: [email protected]
FSPR Number: 511566
Name of Financial Advice Provider: Compass Mortgages Limited Trading as: Compass Mortgages
FSPR Number: 733731
Address: L1/373 Dominion Road, Mount Eden, Auckland 1024, New Zealand
Phone: 02 10499345
Email: [email protected]

My Financial Advice Provider is authorised to provide a financial advice service under a current financial advice provider licence issued by the Financial Markets Authority in the name of: NZ Financial Services Group Limited FSPR Number: 286965

Nature and Scope of My Advice

The information below will help you understand what type of advice I can provide to you. I can help you choose and apply for a loan that is suitable for your purpose from a panel of lenders shown below. Once we have chosen a lender and loan terms that are suitable for you, I will help you to obtain an approval. I may also be able to help you maintain your loan, for example, assisting you with re-fixing your loan.

Banks and Lenders I Use

I source loans from a panel of lenders. The current lenders I can use are:

• ANZ

• Westpac

• BNZ

• ASB

• ASAP Finance Limited

• Avanti Finance

• Cressida Capital

• DBR

• First Mortgage Trust

• Heartland Bank

• Liberty Financial Limited

• Unity

• Pepper Money

• RESIMAC

• SBS Bank

• Select Home Loan

• Southern Cross

• Sovereign

• The Co-operative Bank

• TSB

• Kiwibank

• Basecorp Finance

• CFML

• General Finance

• Pa las Capital

• BIZCAP

• PROSPA

Products I Can Advise On

The types of financial products I can give advice on are:

• Home Loans

• Investment Loans

• Construction Loans

What Else I Can Help You With

I can help you with other services through my referral partners to make it easier for you. However, I am not able to give advice on the products they offer, and I have not checked to see if they can meet your specific needs. You are free to use other providers of your choice or undertake your own research.

• Tower - F&G Asset Finance

• Koura Wealth

• Ray White

• UK Pension Transfers

• XE Money

I am unable to offer legal or tax advice and recommend you consult your solicitor or accountant for this type of advice.

Fees and Expenses

Generally, you won’t be charged any fees for the financial advice I provide to you. This is possible because, on settlement of a loan, the lender usually pays commission to me [which is explained in the commission section of this Disclosure Guide]. Any exceptions to this general position are explained below. If these exceptions will apply to you, I will let you know.

One-Off Fees

I may charge you a one-off fee if the following occurs:

(a) There’s no commission: If you request that I provide financial advice and I do not receive a commission from the lender, I may charge you a one-off fee. Any such fee would be agreed and authorized by you in writing before I complete the services and would be based on an estimate of the time spent providing the advice.

This may arise in the rare event that you request that I provide services in relation to either a product that is offered by a lender that I do not hold an accreditation with or a product that is outside my usual arrangements with my approved lenders.

(b) Commission has to be repaid: If you make certain changes to your loan, the lender can require me to repay to them the commission I received for your loan - this is called a ‘clawback’ and can be up to 100% of the commission. If this occurs, I may charge you a one-off fee. Set out below are the circumstances in which this would apply and the fee that would be charged to you.

Changes That Trigger a Clawback

• Your loan is fully or partially repaid or the terms materially changed.

Relevant Time Period

• The changes occur in the 28-month period following drawdown of your loan.

Amount & Calculation of One-Off Fee

• Generally no more than $3,000 (plus GST, if any). Calculated based on a rate of $250 (plus GST, if any) per hour of my time spent providing advice to you in connection with the applicable loan. The fee would not exceed the amount of commission that needs to be repaid to the lender.

You will be invoiced for any one-off fee and will be given 30 days to make payment.

Adviser Fee

Some lenders charge a fee which is capitalized (or added) to the amount of your loan. This fee is normally calculated as a percentage of your loan at drawdown but can be a flat fee. Please see tables 1 & 2 at the back of the guide for further information.

Commissions & Incentives

Commissions & incentives that apply to me: On settlement of a loan, the lender usually provides me with a commission payment. The commission is generally an upfront commission payment, but an ongoing commission payment may also be paid by the lender. The upfront commission is calculated as a percentage of the loan at drawdown. An ongoing commission is calculated as a percentage of the loan outstanding at the relevant time.

I may also receive a fixed-rate rollover fee from the lender if I assist in refixing your loan.

The maximum percentage that each lender uses to calculate upfront and ongoing commissions, and the maximum fixed-rate rollover fees (refix fees), are set out in the table 3 at the back of this guide. If there are any variations to these percentages or other commission payments that may apply, specific to your loan application, I will disclose this to you as part of my advice process.

I may also receive a referral fee or commission payment if I refer you to our referral partners. Commission payments or referral fees can be paid in different ways:

• Paid in full to a financial adviser.

• Shared between two or more financial advisers.

• Paid to an employer who then pays a financial adviser a salary.

• Paid in full to a financial adviser’s company, from which the financial adviser takes drawings or profit share.

• Shared with a license holder to cover the costs of the services they provide.

I can provide you with more information to explain which option applies to me. Occasionally I may receive incentives or rewards from lenders or referral partners. For example, lenders may provide us with gifts, tickets to events or other incentives.

I manage the conflicts of interest arising from these commission payments, referral fees or incentives by:

• Following an advice process that ensures I understand your needs and goals so that I always recommend the best loan for you regardless of the type and amount of commission or other payments I may receive.

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

• Providing you with tables showing commission rates and types by lender.

• Undertaking regular training on how to manage conflicts of interest.

Privacy Policy & Security

I will collect personal information about you in accordance with my Privacy Policy. I regard client confidentiality as of paramount importance. I will not disclose any confidential information obtained from or about you to any other person, except in accordance with my Privacy Policy. The electronic platform I use to store your personal information is secure and run on Amazon Web Services.

Complaints Process

If you have a complaint about my financial advice or the service I gave you, you need to tell me about it. You can contact my internal complaints service by phoning, or emailing me (Subject line: Complaint Your Name). Please set out the nature of your complaint, and the resolution you are seeking. I aim to acknowledge receipt of this within 24 hours. I will then record your complaint in our Complaints Register and will work with you to resolve your complaint. I may want to meet with you to better understand your issues. I aim to provide an answer to you within 7 working days of receiving your complaint. If we cannot agree on a resolution you can refer your complaint to our external dispute resolution service. This service is independent and will cost you nothing and will assist us to resolve things with you. The name of this service and their contact details are:

Financial Services Complaints Limited (FSCL) - A Financial Ombudsman Service
[email protected]
0800 347 257
https://www.fscl.org.nz
PO Box 5967 Wellington 6140

My Duties

I am bound by and support the duties set out in the Financial Markets Conduct Act 2013. These duties are to:

• Meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services (Code).

• Give priority to my client’s interests.

• Exercise care, diligence, and skill.

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

Table 1 - Adviser Fee (No Commission)

The maximum percentage rates or maximum fee charged for each lender are set out below. This fee is then paid to me by the lender, instead of a commission payment.

Table 2 - Adviser Fee (Plus Commission)

The maximum percentage rates or maximum fee charged for each lender are set out below. This fee may be paid to me by the lender, in addition to a commission payment.

Table 3 - Adviser Commission

The maximum percentage and dollar rates for each lender are set out below. This commission payment is then paid to me by the lender.