Disclosure

Last modified: August 1, 2024

  • Important Information
  • Nature and Scope
  • Our Fees
  • Commissions
  • Conflicts of Interest or Other Incentives
  • How We Manage Any Conflicts of Interest
  • Our Duties and Obligations to You
  • Our Internal Complaints Process
  • Our External Complaints Process

Important Information

Smart Mortgage Services is a Licensed Financial Advice Provider issued by the FMA to provide financial advice services. Financial Services Provider Number is FSP 1007834.

Our office contact details:

Address: 781A High Street, Boulcott, Lower Hutt, Wellington
Phone: 027 SMS LOAN (027 767 5626)
Email: enquiry@smsloans.co.nz
Website: www.smsloans.co.nz

Nature and Scope of Financial Advice Services

Our Services:

Mortgages (residential and commercial loans) Debt management (including borrowing for personal and investment purposes)

Products we can provide financial advice about:

Loans including mortgages, reverse mortgages, personal loans, and asset finance.

Our Fees

Typically, our clients do not incur fees. However, fees may apply for services such as development finance, bridging finance, or non-bank specialist loans. The exact fee will be determined by the nature and scope of the service provided. We will clearly discuss and agree on any applicable fees with you in advance and explain the payment process.

Commissions

For services in relation to loan products, commissions may be paid by the product provider as follows:

Initial commission:

A percentage of the value of your loan balance ranging from 0% to 0.88%. We may also receive a referral fee for your KiwiSaver and general insurance referral. This ranges from $100 to $300 approximately.

Ongoing commission:

A percentage of the value of your outstanding loan amount or premiums, usually calculated at the end of each month in which you hold the loan ranging from 0.15% to 0.20%.

Conflicts of Interest or Other Incentives

We are here for our clients and to advise you as best we can. Your interests are our priority, although we do have business relationships with product providers also. From time to time, our product providers assist us with funding so we can bring our advisers together for conferences and professional development training (e.g., discounted CRM, subsidized training for advisers, or other non-monetary benefits).

How We Manage Any Conflicts of Interest

To ensure our advisers prioritize 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 interest and the gifts and incentives we receive. These registers are monitored regularly, and additional training is provided as required.
• We undertake an annual independent Compliance Assurance Review.

Our Duties and Obligations to You

We are bound by the duties of the Financial Markets Conduct Act (431I, 431K, 431L, and 431M) to:
• Meet the standards of competence, knowledge, and skill set out in the Code of Conduct
• Give priority to the clients’ interests
• Exercise care, diligence, and skill
• Meet the standards of ethical behavior, conduct, and client care set out in the Code of Conduct

Our Internal Complaints Process

If you have a problem, concern, or complaint about any part of our advice or service, please tell us so that we can try to fix the problem.

Our internal complaints handling process is as follows:
1) To lodge a complaint, existing clients can select the “Complaint” button in their profile or at the bottom of the portal web page. If you’re not an existing client, please email us at enquiry@smsloans.co.nz.
2) We will reply to you within 2 business days.
3) We will endeavour to resolve your complaint within 10 working days.

Our External Complaints Process

If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact our external disputes resolution scheme: FSCL. This service will cost you nothing and will help us resolve any complaints.

You can contact Financial Services Complaints at:
Address: FSCL, PO Box 5967, Wellington 6145
Phone number: 0800 347 257
Email address: complaints@fscl.org.nz