Moonstone Financial Services
Disclosures
Important information about our services, fees, conflicts of interest, and how we are regulated in New Zealand.
Key disclosures
The following disclosures are provided to support informed decision-making. If you have questions, please ask before proceeding.
Our Commitment to Transparency
This page provides key disclosures to help you understand how Moonstone Financial Services operates, how we are paid, and what you can expect when receiving advice. It is general information only and does not take into account your personal circumstances. If you would like advice, please click here to contact us to arrange an initial conversation.
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: preeti@moonstone.co.nz
Website: https://www.moonstone.co.nz
Our Financial Advice Provider Details:
Preeti Kanta Prasad
18 Sapperton Drive, Henderson, Auckland 0612, New Zealand
021 139 7496 | preeti@moonstone.co.nz | FSPR: FSP1008288
Shikha Singh-Lochan
1 Mulbury Way, Lower Shotover, Queenstown 9304, New Zealand
021 210 0081 | shikha@moonstone.co.nz | FSPR: FSP1008915
Nature and Scope of our Financial Advice Services
We provide advice to our clients about:
- Home Loans
- Loans for Investment Properties
- Construction Loans
- Debt Consolidation
- Refinancing and re-fixing existing loans
- Asset Finance
- Health Insurance
- Life and Living (including Income and Mortgage) protection insurance.
We can help you by referring you to our partners for the following services:
- Home and Contents Insurance
- Kiwisaver
We are unable to offer legal or tax advice and recommend you consult your solicitor or accountant for this type of advice. Similarly, we are unable to give you advice on the use of your KiwiSaver retirement fund(s). For that, we recommend seeking 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.
Commissions and Incentives
For services in relation to insurance/ investments/ loan products, commissions may be paid by the product provider as follows:
On the settlement of a loan, we usually receive a commission payment from the applicable lender.
The commission is generally 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 rollover fee from the applicable lender if we assist in refixing your loan.
If any variations to these percentages or other commission payments 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.
Conflict of Interests
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 do 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’ interests, 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 10 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.
Product Providers, we recommend and use
We work with all major registered banks and second-tier lenders for providng lending services to our customers.
- ANZ
- ASB
- BNZ
- Westpac
- Kiwibank
- Cooperative Bank
- PROSPA
- Avanti Finance
- Heartland
- Pepper Money
- Unity Money
- Liberty Finance
- ASAP Finance
- Pallas Capital
- BIZCAP
- CMFL
- Finbase
- Basecorp Finance
- Cressida Capital
- DBR
- First Mortgage Trust
- Funding Masters
- Plus Finance
- Southern Cross Partners
- Xceda
- Vincent Capital
- Simplify
- XE
- The Lending People
Insurance
- nib Insurance
- AIA Insurance
- Chubb Life
- Fidelity Life
Privacy and information handling
Your information and confidentiality
We collect and use personal information to provide advice and services, meet legal and regulatory obligations, and communicate with you. We take reasonable steps to protect your information and only share it where necessary (for example, with product providers to implement recommendations) or where required by law.
Ready to discuss your financial plan?
If you would like tailored advice on investments, retirement, KiwiSaver, or insurance, book an initial conversation with Moonstone Financial Services.