Financial Advice – Disclosure

The information provided in this disclosure document is important

Licence status and conditions

GM Financial Advisors Limited (FSP1007170, trading as GM Finance) holds a licence issued by the Financial Markets Authority (FMA) to provide financial advice.

Nature and scope of the financial advice given

GM Finance provides advice to our clients about Lending products listed below:

• Housing Loans
• Business Loans
• Commercial Loans
• Asset Finance

We provide financial advice about products from a large range of providers.

ANZ, ASB, BNZ, Westpac, ASAP Finance, Avanti, Basecorp, Cooperative Bank, CMFL, Bank of China, China Construction Bank, Cressida Capital, DBR, First Mortgage Trust, Funding Partners, Heartland Bank, Liberty, Pepper Money, Plus Finance, Prospa, SBS, TSB, Pallas Capital, Kiwibank, Bizcap.

We do not provide advice on …

• Legal or estate planning (e.g. wills, trusts, contracts, etc.)
• General Insurance advice
• Personal Insurance advice
• Investment products (e.g. shares, bonds, managed funds, KiwiSaver, etc.)

Any financial advice provided on our behalf will take account only of the information you have given us about your particular needs, financial situation or goals.

No fees, expenses or other amounts payable for our financial advice

We do not charge you a fee if you decide to take a loan. The lender may pay us a commission if you decide to take up our advice and when your loan settles.

However, We may charge you for the financial advice that I provide if you cancel or refinance your mortgage within 36 months after it settles. You apply via us for a mortgage and then decide not to proceed for any of the following reasons:

• Decided to change adviser or deal with the lender directly after we have worked on your application.
• Decided to change adviser or deal with a lender directly within 12 months while we hold a valid approval for you
• Have not informed us about your changed financial circumstances, as a consequence of which we cannot get an approval extension.
• Your application is declined by a lender because of a failure and/or refusal on your part to declare all the information they require to assess and process the application.

GM Finance has referral partnerships and can refer you to a specialist adviser, with your agreement. These include Insurance Brokers, Fire & General Brokers and Kiwisaver Advisors.

Conflicts of interest and commissions or other incentives

We are paid commissions by lenders when a mortgage settles and in some cases at the mortgage anniversary each year.

To ensure that our financial advisers prioritise the client’s interest above their own, we follow an advice process that ensures our recommendations are made on the basis of the client’s goals and circumstances. All our financial advisers undergo annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme annually by a reputable compliance consultancy firm.

Internal complaints process

If you have a problem, concern, or complaint about any part of the financial advice you have received from us, you may contact us using any of the following means:

• in writing: 82 Hare Puke Drive, Flagstaff, Hamilton
• by telephone: 021321893
• by email: [email protected]
• completing the online complaints form: https://gmfinance.nz/contact-us/

When we receive a complaint, we will consider it following our internal complaints process:

• We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.
• We aim to resolve complaints within 10 working days of receiving them. If we can’t, we will contact you within that time to let you know we need more time to consider your complaint.
• We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so.
• If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact Financial Services Complaints Limited.

Dispute resolution process

If our internal complaints process does not resolve your complaint to your satisfaction, you can contact our external independent dispute resolution scheme.  This service is free and may help investigate or resolve the complaint.

We are a member of the Financial Services Complaints Limited’s approved dispute resolution scheme.  You can contact the Financial Services Complaints Limited at:

            Financial Services Complaints Limited

            Level 4, Sybase House, 101 Lambton Quay

            Wellington 6011

Telephone: 0800 347 257 (freephone if within New Zealand) or +64 4 472 3725 (if calling outside New Zealand)

Postal: P O Box 5967, Wellington 6140

Email: [email protected]

Website: http://www.fscl.org.nz/

Our duties

GM Financ, 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 reasonable 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)
• 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 have. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz.

The Code of Conduct standards can be read here: https://www.fma.govt.nz/assets/assets/code-of-professional-conduct-for-financial-advice-services.pdf.

Contact Details

GM Financial Advisors Limited (FSP1007170, trading as GM Finance) is the Financial Advice provider.

You can contact us at:

Phn: 0211143201

Email: [email protected]