Important information
Who we are, how we're licensed, how we're paid and what to do if something goes wrong, in plain English.
Licensing information
Kiwinest Financial Limited (company no. 9407938) provides financial advice through Newpark 2020 Limited (FSP768953). Newpark holds a licence issued by the Financial Markets Authority to provide financial advice.
Your adviser is Vineet, a Financial Adviser (FSP[number]), who gives advice on behalf of Newpark.
You can view Newpark's registration and licence on the Financial Service Providers Register by searching FSP768953. Newpark has standard conditions on its licence. There are no conditions specific to Newpark and no limits on the advice that may be given.
Nature and scope of our advice
We give advice on:
- Home loans: first home, refinancing, upsizing and investment lending. We work with [number] lenders: [list of lenders, from Newpark].
- Life insurance: we work with 6 providers: AIA, Asteron Life, Chubb Life, Fidelity Life, Partners Life and Resolution Life.
- Health insurance: we work with 5 providers: AIA, nib, Partners Life, Southern Cross and Unimed.
We only give advice about products from these providers. We don't currently give investment advice.
Fees and expenses
We don't charge you fees or expenses for our advice unless we agree them with you in advance, for example:
- for completing a financial plan
- when a product provider doesn't pay a commission
- any other fee we agree with you directly before we start.
[Newpark to confirm any mortgage-specific fees, e.g. if a loan is repaid or refinanced within the lender's clawback period.]
How we're paid, and conflicts of interest
In most cases, you don't pay us. Lenders and insurers pay commission to Newpark and to your adviser when you take out a loan or policy.
- Home loans: the lender pays a commission based on the amount you borrow. [Newpark to confirm upfront and trail commission and any clawback terms.]
- Insurance: the insurer pays a commission based on the amount of your premium.
- Gifts: providers may occasionally reward us for the overall business we give them, for example with tickets to sports events, hampers or other small gifts.
- Referrals: we may refer you to other professionals, and sometimes receive payment if business results from that referral. We'll always tell you first.
To make sure we put your interests first, we follow Newpark's policies and an advice process based on your goals and circumstances. Advisers have an annual compliance review and training on managing conflicts of interest. Newpark keeps registers of conflicts of interest, gifts and incentives.
Complaints and dispute resolution
If you're not happy with our advice or service, please tell us so we can try to fix it.
Our internal process
Contact Vineet first at hello@kiwinestfinancial.co.nz or [phone number]. You can also complain to Newpark by phone or in writing, preferably by email to enquiries@newpark.co.nz.
We'll investigate your complaint promptly and fairly, and aim to respond within 10 working days. If we need more time, we'll tell you within that period and give you an estimated timeframe.
If we can't resolve it
If you're not satisfied once our process is complete, you can take your complaint to our independent dispute resolution scheme, Financial Services Complaints Limited (FSCL). This service is free.
Financial Services Complaints Limited
Level 4, 101 Lambton Quay, Wellington 6011
Phone: 0800 347 257
Email: complaints@fscl.org.nz
Web: www.fscl.org.nz
You must contact FSCL within 3 months of receiving our decision letter. After that, FSCL can't investigate your complaint.
You can also complain to the Financial Markets Authority (FMA). See fma.govt.nz, write to Level 2, 1 Grey Street, PO Box 1179, Wellington 6140, or call 04 472 9830.
Our duties to you
Newpark, and anyone who gives financial advice on its behalf, has duties under the Financial Markets Conduct Act 2013 about how we give advice. We must:
- give priority to your interests, by taking all reasonable steps to make sure our advice isn't materially influenced by our own interests
- exercise care, diligence and skill in giving you advice
- meet the standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services
- meet the standards of ethical behaviour, conduct and client care set by the Code.
This is a summary. For more information, contact us or visit fma.govt.nz.
Contact
Kiwinest Financial Limited: hello@kiwinestfinancial.co.nz, [phone number].
Newpark 2020 Limited (FSP768953): 0508 274 273, Level 2, 132 Hurstmere Road, Takapuna, Auckland. PO Box 33 741, Takapuna, Auckland 0740.