Disclosure Statement

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LICENSING INFORMATION

Rule Financial Services Limited

Rule Financial Services Limited (FSP769153, trading as Rule Financial Services) holds a licence issued by the Financial Markets Authority to provide financial advice.

NATURE AND SCOPE OF THE ADVICE

Rule Financial Services provides advice to our clients about mortgages, life insurance and health insurance.

Our financial advisers provide financial advice in relation to home mortgages, life insurance and health insurance.

We only provide financial advice about products from certain providers:

• For mortgages, we work with six banks

  • ANZ, ASB, Westpac, Co Operative Bank, SBS Bank and TSB.

  • We also work with specialist lenders Avanti Finance, Bluestone Mortgages and Pepper Money.

• For life insurance, we work with three companies – AIA, Cigna and Partners Life.

• For health insurance, we work with two providers – AIA and Partners Life.

FEES OR EXPENSES

Rule Financial Services Limited

Unless specifically negotiated in advance the financial advice that Rule Financial Services provides to our clients for a mortgage is always free.

Rule Financial Services may charge a fee for the financial advice provided to a client where a client cancels a life or health insurance policy within two years of inception. Whether a fee will be charged and the manner in which it will be charged will be advised when the advice is provided to the client. This fee will be payable by the client by the 20th of the month after the policy is cancelled.

CONFLICTS OF INTEREST AND INCENTIVES

Rule Financial Services Limited

For life insurance and health insurance, Rule Financial Services receives commissions from the insurance companies on whose policies we give advice. If you decide to take out insurance, the insurer will pay a commission to Rule Financial Services. The amount of the commission is based on the amount of the premium.

For mortgages, Rule Financial Services receives commissions from the banks with whom we arrange mortgages. If you decide to take out the mortgage, the bank will pay a commission to your financial adviser. The amount of the commission is based on the amount of the mortgage.

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 on the basis of the client’s goals and circumstances. We undertake a compliance audit, and a review of our compliance programme annually by a reputable compliance adviser.

COMPLAINTS HANDLING AND DISPUTE RESOLUTION

Rule Financial Services Limited

If you are not satisfied with our financial advice service you can make a complaint by emailing simon@rulefinancialservices.co.nz  or by calling: 021432552. You can also write to us at: Unit 2/42B James Cook Drive, Whitby, Porirua 5024.

When we receive a complaint, we will consider it following our internal complaints process:

• We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.

• We aim to resolve complaints within 10 working days of receiving them. If we can’t, we will contact you within that time to let you know we need more time to consider your complaint.

• We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so.

If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact The Insurance & Financial Services Ombudsman Scheme.

The Insurance & Financial Services Ombudsman Scheme provides a free, independent dispute resolution service that may help investigate or resolve your complaint, if we haven’t been able to resolve your complaint to your satisfaction.

You can contact The Insurance & Financial Services Ombudsman Scheme by emailing info@ifso.nz  or by calling 0800 888 202. You can also write to them at the office of The Insurance & Financial Services Ombudsman Scheme PO Box 10-845, Wellington 6143.

DUTIES INFORMATION

Rule Financial Services Limited

Rule Financial Services, and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.

We are required to:

• give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests.

• exercise care, diligence, and skill in providing you with advice.

• meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice)

• meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice).

This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz.

CONTACT DETAILS

Rule Financial Services Limited

Contact details:

Rule Financial Services Limited (FSP769153) trading as Rule Financial Services is the Financial Advice Provider.

You can contact us at:

Phone: 04 234 1756 or 021 432 552

Email: simon@rulefinancialservices.co.nz

Address: Unit 2/42B James Cook Drive, Whitby, Porirua 5024.