Publicly available disclosure
Nature and scope of the advice
We provide financial advice in relation to loans from a panel of lenders below.
• ANZ • BNZ • Westpac• ASB • SBS Bank • The Co-operative Bank• TSB • BOC • CCB• ICBC • First Mortgage Trust • Southern Cross• Heartland Bank • DBR • SELECT• RESIMAC • Liberty Finance • Sovereign• Avanti Finance • Cressida Finance • Prospa New Zealand• Zagga • ASAP Finance • NZCU
The type of financial advice products we can provide advice on are:
• Home Loans • Construction Loans • Equipment Loans• Car Loans • Personal Loans • Investment Loans
We can help you with other services through our referral partners
• Tower – F&G • Select - Asset • Real Estate Agency• AMI – F&G • Asset Finance • Currency Exchange Agency
We are unable to offer legal or tax advice and recommend you consult your solicitor or accountant for this. Any advice we provide in relation to KiwiSaver withdrawal for a first home purchase is limited to factual information on what can be withdrawn and the process for this and does not extend to whether or not this is in the client’s best interests. Please consult an investment adviser for advice on retirement savings.
Our nominated representatives may provide financial advice in relation to loans and mortgages. Our nominated representatives provide information only service in relation to loans.
Fees or expenses
We may charge you a one-off fee if the following occurs:
Our adviser will charge a fee for the financial advice that is provided to you. The fee charged will depend on the nature of the financial advice and service that we provide. When our adviser does not receive a commission from the lender:
- If you request that our adviser provide financial advice and we do not receive a commission from the lender. We may charge you a one-off fee. Any such fee would be agreed and authorised by you in writing before we complete the services, and would be based on an estimate of the time spent on providing the advice.
- *This may arise in the rare event that you request that we provide services in relation to either a product that is offered by a lender that our adviser does not hold accreditation with, or a product that is outside the usual arrangements with our product providers.
- If a lender requires that our adviser repay commission within 28 months of settlement of your loan, we may charge you a one-off fee. Any such fee would be no more than $2,500 and would be calculated based on a rate of $250 per hour of our adviser time spent providing financial advice to you in connection with the applicable loan. The fee we charge you will not exceed the amount of commission we have to repay to the lender.
- The exact fees we will charge will be confirmed at the time the advice is provided.
- All of our fees are payable within 30 days you receive the invoice from us.
Conflicts of interest and commissions
To ensure our advisers prioritise our clients’ interests :
- We follow an advice process that ensures our recommendations are made appropriately, based on clients’ goals and circumstances.
- All our advisers undergo 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.
Complaints handling and dispute resolution
If you are not satisfied with our service or financial advice, please tell us as soon as possible. Call: +64 9 486 0975Email: email@example.comWrite to: Coconut Mortgages Ltd, F/112 Bush Road, Rosedale, Auckland 0632, New Zealand
When we receive a complaint:
- We will consider your complaint and let you know how we intend to resolve it. Where possible, we try to resolve your complaint immediately. Please set out the nature of your complaint, and the resolution you are seeking;
- If we are unable to resolve your complaint immediately, we will acknowledge your complaint within 2 business days. We may contact you to get further information about your complaint;
- We aim to resolve complaints within 10 working days of receiving them. If we need more time to investigate your complaint, we will let you know when you can expect to receive a response to your complaint;
- We will contact you by phone, email or letter to let you know whether we can resolve your complaint and how we propose to do so.
If we cannot agree on how to fix the issue, or if you decide not to use our internal complaints process, you can contact our external disputes resolution scheme, Financial Services Complaints Limited (FSCL). FSCL provides a free and independent dispute resolution service that may help to resolve your complaint if we haven’t been able to do so to your satisfaction. To contact, Financial Services Complaints Limited:Call: 0800 347 257Email: firstname.lastname@example.orgWrite to: FSCL, PO Box 5967, Wellington 6145
You can find information about those duties on our website at www.coconutloans.co.nz/duties.
We are required to:
- give priority to your interests;
- exercise care, diligence, and skill;
- meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services;
- meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services;
- have regular training with NZFSG, lenders and other product providers.
As a FAP, Coconut Mortgages Limited is required to:• ensure our nominated representatives comply with all the duties listed above.• have appropriate processes and controls in place to limit and regulate the advice provided by them.