We do not provide financial advice service related to:
- Investment products (e.g., shares, bonds, managed funds, etc.) and KiwiSaver products; and
- Estate planning (such as Wills, Enduring Powers of Attorney, and trusts of any description); and
- Personal risk insurance (eg; life insurance, mortgage protection insurance, serious illness or trauma insurance, medical insurance, disability insurance, etc.)
You will need to consult appropriate specialists if you would like advice on “a”, “b” and “c” above.
Fees, expenses, or other amounts payable
We may charge an advice fee for our services, based on the size and complexity of the loan, the lender and the work required at settlement for the drawdown of your loan. The advice fee is up to 1% of the finance amount. Generally, the advice fee is capitalised to the loan and paid to us via the lender.
We may charge a fee for the financial advice provided to a client where a client repays a residential home loan within a defined time (being 27months) from the date it is drawn down, but this will be discussed and agreed with you during the advice process.
Conflicts of interest and commissions or other incentives
We have an obligation to put our clients’ interests first when making a recommendation. Should any actual or potential conflicts of interest arise during the advice process. We undertake to bring any such conflict of interest to your attention so that you may assess our advice objectively.
If you accept and act on our advice, we may receive a product provider commission. Conversely, if you do not accept and act upon our advice, we will not receive a product provider commission.
Residential Lending Products
We, and Astute may receive commission from the lenders who provide residential lending products. If you decide to take out a residential loan, then the lender may pay commission based on the amount of loan settled with that lender. The commission amounts will vary depending on the product provider and type of loan.
Advisers
All our advisers are salaried advisers. In addition to their base salary, an employee may be entitled to commission, in accordance with the Performance Based Development & Incentive Plan. This plan is based on the adviser’s level of performance across a balanced scorecard of individual, customer, team, and business metrics and compliance with applicable legislation, regulation, and the Code of Professional Conduct for Financial Advice Services.
Performance Based Remuneration
Our remuneration is based on the total amount you end up borrowing (i.e., the more you borrow, the more remuneration received by us).
To ensure that our financial advisers prioritise the client’s interests above their own, we follow an advice process that ensures our recommendations are made based on the client’s personal goals and circumstances. All our financial advisers undergo annual professional development refresher training about how to manage conflicts of interest. We maintain registers of conflicts of interests, and the gifts and incentives received.
Other incentives
From time to time, various product providers (described previously) may also reward us and/or Astute for the overall business provided to them. They may give tickets to sports events, hampers, or other incentives.
Other interests
In addition to being a Financial Adviser, Rachael Alexander is also the sole director and a shareholder of Max Money Group Limited.
Max Money Group, Astute, and/or some of our product providers periodically undertake a compliance review of our advice process.
Max Money Group and Astute also engage an independent compliance consultancy firm to conduct ongoing independent compliance reviews. Product providers may also engage independent compliance consultancy firms to conduct ongoing independent compliance reviews.
Complaints handling and dispute resolution
We take all complaints seriously and work to resolve them as quickly as possible.
If you are unhappy with our financial advice service, and wish to make a complaint, please contact your financial adviser so he or she can try to put things right.
If you do not feel comfortable discussing your concerns with your adviser, you can:
- Call us on 09 913 3011, or 0800 275 629 (toll free) between the hours of 8:30 am – 5 pm weekdays
- Email us at info@maxmoneygroup.co.nz
- Write to us at Unit D1, 27-29 William Pickering Drive, Rosedale, Auckland, 0632, New Zealand (the address of our Head Office) addressing your letter to the attention of the Managing Director.
How your Complaint will be handled
We will deal with your complaint using our internal complaints handling process. Accordingly,
- We will investigate your complaint by analysing the information you provided us; and
- We may contact you to get additional information about your complaint.
We aim to resolve your complaint within 40 days of its receipt and advise you, in writing, our proposed resolution to your complaint.
If we cannot resolve your complaint within 40 days of receipt (or any additional time you have given us thereafter, at our request), 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 and will help us to investigate or resolve your complaint if it is not resolved to your satisfaction using our internal complaints process.
You can contact the FSCL Scheme at:
