Disclosure Statement

Here is some general information about our business to help you decide if you want to seek our advice.

Licence status and conditions for Home Loan Studio Limited

FSP Number: 1003759

Phone: 022 350 1797

Licensing information
We operate as a Financial Advice Provider in the name of the Home Loan Studio Limited (FSP1003759) under a current licence issued by the Financial Markets Authority in the name of Home Loan Studio Ltd.

Jessica Ford (FSP 774600) is a Financial Adviser that provides advice on behalf of Home Loan Studio Ltd.

There are no conditions attached to this licence on the advice that may be given.

Scope of our advice and Product Providers
We provide advice to our clients about home loan and lending products and KiwiSaver.

We only provide advice about products from certain providers, these are ANZ, Westpac, BNZ, ASB, Kiwibank, TSB, The Co-Operative Bank, Heartland Bank, SBS Bank, ASAP Finance Ltd, Avanti Finance, Cressida Capital, DBR, First Mortgage Trust, Liberty Financial, Unity, Pepper, Southern Cross, Sovereign, Basecorp Finance, Zip Business, Pallas Capital and CFML.

We provide advice on KiwiSaver with Milford, Booster, Pathfinder, Kernel, NZ Funds and Generate.

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.

We do not charge any fees, expenses or any other amounts for financial advice given to you.

If the financial adviser recommends any home loan or KiwiSaver products for you, you will be informed of the fees or costs of those products.

Commission

For home loan products, Home Loan Studio and the financial adviser receive commissions from the home loan providers on whose products we give advice. If you decide to take out a home loan, the home loan provider will pay a commission to Home Loan Studio Ltd and your financial adviser. The amount of the commission is based on the amount of the home loan drawn and varies per home loan provider. Some providers will do a full up-front commission ranging between 0.50% to 1% of the home loan value, others will provide a part up front commission between 0.55% to 0.80% of the home loan value with a trail income of 0.15 to 0.25% payable monthly on the home loan balance. We also receive a fixed rate rollover fee or sometimes a commission payment if we assist in refixing your loan.

For KiwiSaver, if we assist in setting up or advising on your KiwiSaver, Home Loan Studio and the financial adviser receive commissions from the KiwiSaver providers on whose products we give advice. The amount of the commission ranges from between 0.2% to 0.5% payable monthly on the KiwiSaver balance.

This commission is used to remunerate the financial adviser that provides the advice, and to pay the expenses associated with running our business including any rent, advertising, compliance costs, staff costs and IT resources. From this commission we also pay NZ Financial Services Group Limited for services they provide to us in connection with our authorisation under their licence from the Financial Markets Authority.

To ensure that our financial advisers prioritise the client’s interest above their own, we follow an advice process that ensures our recommendations are in our clients best interests and are made on the basis of the client’s goals and circumstances regardless of the commission we or they may receive.

We do this by:

● Ensuring our advisers follow an advice process that ensures they understand your needs and goals and that their recommendations on insurance cover meets those needs and goals.

● Ensuring our advisers receive regular training on how to manage conflicts of interest.

● Providing you with a schedule showing commission amounts and types by product provider. This schedule is contained within each Financial Adviser’s personalised Disclosure Guide. The Financial Adviser will provide you with more information about commissions during the advice process.

Conflicts of Interest

If there are any conflicts of interest apart from commission that could potentially influence the advice that we give, these will be shown in your Financial Adviser’s Disclosure Statement.

Fees and Expenses

Generally we don’t charge you any fee for the advice and transactional solutions that we provide to you. This is possible because we usually receive commission from the applicable product provider as described above.

There is one exception to this where we do charge a fee. When we recommend Milford KiwiSaver, you will be charged an advice fee of 0.2% of your KiwiSaver balance, charged monthly. This is fully reimbursed to you by Milford so the net result to you is the same as if we didn’t charge a fee.

Referrals

We may refer our clients to other appropriate and qualified financial advice providers / financial advisers or other professionals such as accountants or solicitors if we identify as part of our advice process that other services and/or advice outside of lending or KiwiSaver may be required. In these cases, we don’t accept any commission or fees as part of this process so that we can remain fully independent and keep your interests as our priority.

Internal complaints process

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

by telephone: 022 350 1797
by email: admin@homeloanstudio.co.nz using the heading “Complaint – your name”. Please set out the nature of your complaint and the resolution you are seeking.

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

We will acknowledge your complaint and record it in our complaints register within 1 working day.
We will investigate your complaint and may need to contact you to get further information.
We aim to resolve complaints within 5 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 independent and will assist you to resolve things with us.

You may refer your complaint to Financial Services Complaints Ltd (FSCL) – A Financial Ombudsman Service. FSCL is our independent external ombudsman and dispute resolution service that has been approved by the Minister of Consumer Affairs under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. FSCL’s service is free of charge to you.

You can contact Financial Services Complaints Limited (FSCL) - A Financial Ombudsman Service at:

Financial Services Complaints Limited - a Financial Ombudsman Service

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

Our duties

Home Loan Studio 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 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.

The Code of Conduct standards can be read here.

Contact Details

Home Loan Studio Limited (FSP1003759) is the Financial Advice Provider.

Jessica Ford (FSP774500) is the Financial Adviser.

You can contact us at:

HOME LOAN STUDIO LIMITED
Postal address: 22 Enderby Drive, Te Atatu Peninsula, Auckland
Phone number: 022 350 1797
Email: admin@homeloanstudio.co.nz
Web address: www.homeloanstudio.co.nz

Any Questions?
Please don’t hesitate to contact us if you have any questions regarding this Disclosure.