Important information about our business

Moonstone Financial Services Limited (Moonstone) holds a Financial Advice Provider licence issued by the Financial Markets Authority to provide financial advice services. Moonstone's Financial Services Provider Number is FSP1008289.

Our office contact details:
Address: 18 Sapperton Drive, Henderson, Auckland 0612, New Zealand
Phone:   021 139 7496
Email:   p reeti@moonstone.co.nz
Website:   https://www.moonstone.co.nz

Our Financial Advice Provider Details:

Name: Preeti Kanta Prasad

Address: 18 Sapperton Drive, Henderson, Auckland 0612, New Zealand

Phone: 021 139 7496

Email: preeti@moonstone.co.nz

FSPR Number: FSP1008288

Nature and Scope of Financial Advice Services

We provide advice to our clients about:

Home Loans
Loans for Investment Properties
Construction Loans
Debt Consolidation
Re-financing and Re-fixing existing loans

Product Providers we may recommend and use:

this will be updated closer to our opening day

We can help you with other services by referring you to our partners for the following

services:

this will be updated closer to our opening day

I am unable to offer legal or tax advice and recommend you consult your solicitor or

accountant for this type of advice.

I am unable to give you advice on the use of your KiwiSaver retirement fund(s) or to fund

your home purchase. If you plan to use your KiwiSaver fund(s) as part of the mortgage

process, I recommend that you seek advice from a Financial Adviser who specialises in

investment planning.

Our Fees and Expenses

Generally, we won’t charge you any fees for the financial advice we provide to you. This is possible because, on settlement of a loan, we usually receive a commission from the lender.

Any exception to this general position are explained below. If these exceptions will apply to you, we will let you know.

One-off fees

We may charge you a one-off fee if the following occurs

When we don't receive commission from the lender: 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. This may arise in the rare event that you request that we provide services in relation to either a product that is offered by a lender that we do not hold an accreditation with, or a product that is outside our usual arrangements with our approved lenders.
When we have to repay commission to the lender: In the event that, in the 28-month period following drawdown of your loan, your loan is fully or partially repaid or the terms materially changed, and a lender requires that we repay the applicable commission to them, we may charge you a one-off fee. Any such fee would be no more than $2,500 (plus GST, if any) and would be calculated based on a rate of $250 (plus GST, if any) per hour of our time spent providing financial 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.

The actual fee charged to you will depend on the nature and scope of the advice or service we provide. We will discuss and agree on the actual fees with you before we proceed and explain how they are payable.

The following section outlines the types of fees that may apply:

The fees charged for our advice and services may be based on a combination of:

A set dollar amount; or
a percentage-based fee.

Our agreed advice and service fees may include charges for:

Initial advice ongoing; or
annual advice and services.

Other Costs

Where other costs are incurred in the process of providing our advice and services to you, you will be liable for these costs.

However, we will agree on all additional costs with you prior to incurring them; or we don’t charge our clients fees, expenses, or anything else directly for the financial advice we provide.

Commissions

Commissions And Incentives

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

On settlement of a loan, we usually receive a commission payment from the applicable lender.

The commission is generally of an upfront commission payment, but we may also receive an ongoing trail commission payment. The upfront commission is calculated as a percentage of the loan at drawdown. A trail 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 applicable lender if we assist in refixing your loan.

If there are any variations to these percentages or other commission payments that may apply, specific to your loan application, we will disclose this to you as part of our advice process.

We may also receive a referral fee or commission payment if we refer you to our referral partners listed above. We will give you more information about how that referral fee or commission is calculated, before proceeding.

From time to time, we may receive incentives or rewards from lenders. For example, they may provide us with gifts, tickets to events or other incentives.

The commission is typically between 0.55% and 0.85% of the value of the loan. The amount will depend on the bank and the type of mortgage you choose. We may also receive an ongoing commission (known as a trail) of between 0% and 0.2% of the remaining loan balance, each year.

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. For example, from

time to time our product providers assist us with funding so we can bring our advisers

together for conferences and professional development training.

How we manage any conflicts of interest

We manage the conflicts of interest arising from these commission payments by:

Following an advice process that ensures we understand your needs and goals so that we always recommend the best product for you regardless of the type and amount of commission we will receive.
Ensuring the amount of any loan is in accordance with your identified needs.
Providing you with the table below showing commission rates and types by lender
Undertaking regular training on how to manage conflicts of interest.

To ensure our advisers prioritise 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’ interest, and
Exercise care, diligence, and skill, and
Meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct.

Complaints and Duties

Our Internal complaints process.

If you have a complaint about any part of our advice or service which we gave you, please

call us to lodge a complaint so that we can try to fix the problem.

You can contact our internal complaints service by:

by phoning us directly
by sending us an email to Preeti Prasad on preeti@moonstone.co.nz and we will reply to you within 24 hours.

Our internal complaints handling process is as follows:

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 aim to provide an answer to you within 7 working days of receiving your complaint. 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.

Our external complaints process.

If you are not satisfied with how we addressed or resolved your complaint, you can contact the Financial Services Complaints Limited. They are an independent dispute resolution

service that costs you nothing to use and will help us resolve any disagreements or finalise outstanding complaints.

Their contact details are:

Financial Services Complaints Limited

complaints@fscl.org.nz

0800 347 257

My duties as a Financial Adviser

I am bound by and support the duties set out in the Financial Markets Conduct Act 2013.

These duties are to:

Meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services (Code).
Give priority to my client’s interests.
Exercise care, diligence, and skill.
Meet the standards of ethical behaviour, conduct, and client care set out in the Code.

Your Obligations

Its important that you provide accurate and timely information. You also have a need to advise us of any significant matters or changes that then lenders should be made aware of making their decision.

Availability of Information

This information can be provided in hardcopy upon your request.