Here is some key information you need to know to help you understand the type of advice we can provide you, so that you can make an informed and confident choice when engaging us.
Financial Advice Provider
GOOD SHEPHERD LIMITED
FSPR Number: FSP 729391
Phone: 09-4756000
Email: info@gsfnz.com
Address: 6/26 Rosedale Road, Rosedale, Auckland 0632
Licensing Information
Good Shepherd Limited is authorised to provide a financial advice service under a current financial
advice provider licence issued by the Financial Markets Authority
Nature and Scope of Our Advice
We provides regulated financial advice in relating to property lending products on:
|
|
|
The information below will help you understand what type of advice we can provide to you.
A panel of lenders (set out below, but are not limited to):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The types of products that individual GSL's financial advisers can provide advice on and the relevant product providers will be disclosed at the adviser level. Our financial advisers will provide their Disclosure Guide when you engage with them.
Fees and Expenses
Generally we won't charge you any fees for the financial advice provided to you. We usually receive commission from the product provider on settlement of a loan. Any exceptions to this general position are explained below. If these exceptions will apply to you, our financial adviser will let you know.
One-off fees
We may charge you a one-off fee if the following occurs:
A) There’s no commission: If you request that we 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 providing the advice.
B) Commission has to be repaid: If you make certain changes to your loan in the 28 month period following drawdown of your loan, such as your loan is fully or partially repaid or the terms materially changed, the lender can require us to repay the commission we received for your loan - this is called a ‘clawback’. Where applicable, we may charge you a one-off fee. Generally no more than $3,000 (plus GST, if any). Calculated based on a rate of $250 (plus GST, if any) per hour of our time spent providing 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.
You will be invoiced for any one-off fee and will be given 30 days to make payment.
Commissions, Incentives and Conflicts of interest
On settlement of a loan, the lender usually provides us with a commission payment.
The commission is generally an upfront commission payment but an ongoing commission payment may also be paid by the lender. The upfront commission is calculated as a percentage of the loan at drawdown. An ongoing commission is calculated as a percentage of the loan outstanding at the relevant time. We may also receive a fixed rate roll over fee from the lender if we assist in refixing your loan.
The commission amount typically varies depending on the value of the loan and may differ among lenders. Our financial adviser will disclose the details to you as part of our advice process.
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, staff costs, IT resources etc.
Occasionally we may receive incentives or rewards from lenders or referral partners. For example, lenders may provide us with gifts, tickets to events or other incentives.
We manage the conflicts of interest arising from these commission payments, referral fees or incentives by:
Following an advice process that ensures I understand your needs and goals so that we always recommend the best loan for you regardless of the type and amount of commission or other payments we may receive.
Ensuring the amount of any loan is in accordance with your identified needs.
Providing you with tables showing commission rates and types by lender.
Undertaking regular training on how to manage conflicts of interest.
Complaint and Dispute Resolution
If you have a complaint about our financial advice or the service you’ve received from our financial advisers, please lodge a complaint with them. You can contact our internal complaints service by phoning 09-4756000; or emailing us at info@gsfnz.com using the subject line: Complaint-Your Name.
Please set out the nature of your complaint, and the resolution you are seeking. We aim to acknowledge receipt of this within 24 hours. We will then record your complaint in our Complaints Register and will work with you to resolve your complaint. We may want to meet with you to better understand your issues. We will then investigate your complaint and aim to provide a response to you within 7 working days of receiving your complaint. If we need more time to investigate your complaint, we’ll let you know.
If we cannot agree on a resolution you can refer your complaint to our external dispute resolution service. This service is independent and will cost you nothing and will assist us to resolve things with you.
The name of this service and their contact details are:
Financial Services Complaints Limited (FSCL) - A Financial Ombudsman Service
complaints@fscl.org.nz
0800 347 257
https://www.fscl.org.nz/
PO Box 5967 Wellington 6140
Our Duties
We are bound by and supports the duties set out in the Financial Markets Conduct Act 2013. These duties are to:
• Meet the standards of competence, knowledge, and skill and the standards set out in the Code of Professional Conduct for Financial Advice Providers.
• Meet the standards of ethical behaviour, conduct and client care set out in the Code of Professional Conduct for Financial Advice Providers.
• Give priority to your interests by taking reasonable steps to make sure our interests don’t materially influence our advice
• Exercise care, diligence, and skill.
Availability of Information
This information can be provided in hardcopy upon your request.