Duties Information
The Insurance Department Limited, and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice. We are required to:
· Give priority to your interests by taking all responsible steps to make sure our advice isn’t materially influenced by our own interests;
· Exercise care, diligence, and skill in providing you with advice;
· Meet standards of competence, knowledge, and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice); and
· Meet standards of ethical behaviour, conduct, and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should ,and give you suitable advice).
This is only a summary of the duties that we hold. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz.
· Exercise care, diligence, and skill in providing you with advice;
· Meet standards of competence, knowledge, and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice); and
· Meet standards of ethical behaviour, conduct, and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should ,and give you suitable advice).
Our Process
Initial Conversation
The initial conversation is where we get to know you. Who you are, what your goals are and how we can help. By the end of this meeting you should have a clear idea of what our plan is and how we are able to assist you.
Information Gathering
This is where we flesh out the details from our first conversation, you will complete a Fact Find and Statement of Position and provide all the supporting documentation necessary, we will compile this into a clear loan application.
Approach Lenders
We then submit this application to the bank on your behalf and work through any issues until we have an approval. If there are any conditions on this approval, we will work with you to have them satisfied so that you can purchase unconditionally.
Structure and Rates
This is where we negotiate interest rates on your behalf, then assist you in deciding how you will structure your lending. The correct loan structure can save you thousands of dollars over the life of the loan, so we take this meeting very seriously.
Ongoing Service
Our commitment to you does not end when your loan is settled. We will be here to look after your financial needs for the rest of your life. We will assist you when your interest rates need to be re-fixed, or if you have a change of circumstance.
